Publication
UK Carbon Border Adjustment Mechanism: how will it work?
In February, we reported on the Department of Energy Security and Net Zero’s confirmation that a UK Carbon Border Adjustment Mechanism (CBAM) would be bought into force by 2027
Global | Publication | April 6, 2016
Today, the U.S. Department of Labor (DOL) issued the long awaited final fiduciary rule. The final fiduciary rule makes sweeping changes to the laws governing retirement advice and conflicts of interest in retirement savings. Here are the final fiduciary rule and related fact sheet.
The DOL first proposed changes to the fiduciary rule in 2010 and then reproposed the fiduciary rule last April. Since the fiduciary rule was first proposed, the DOL has received extensive feedback from industry, advocates, Congress, federal and state regulators and others. The final rule released today reflects streamlined rules and exemptions, including several changes to simplify the “best interests contracts exemption” and certain relief for non-traded REITs and annuities. The DOL’s chart showing the changes from its 2015 conflicts of interest proposal to the final rule may be found here.
The final fiduciary rule will become effective in April 2017. However, compliance with the “best interest contract exemption” and “principal transactions exemption” will be phased in from April 2017 to January 1, 2018 to give financial institutions and advisors more time to comply with the requirements for these exemptions.
We will follow up with a more detailed summary of the final fiduciary rule. We will be hosting a seminar on the final rule later this spring and will circulate details on the seminar in the near future.
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Our client alerts are for general informational purposes and should not be regarded as legal advice. If you would like additional information or have any questions, please contact the author.
Publication
In February, we reported on the Department of Energy Security and Net Zero’s confirmation that a UK Carbon Border Adjustment Mechanism (CBAM) would be bought into force by 2027
Publication
Last November the Financial Conduct Authority (FCA) published Policy Statement 23/16 (PS23/16) containing final rules and guidance on sustainability disclosure requirements (SDR) and investment labels (UK SDR regime).
Publication
International financial markets have started to show significant interest in nature and biodiversity. Whilst climate change and greenhouse gas emissions have made the headlines in recent years, there has been much less focus on their equally important counterparts, nature and biodiversity. However, that has started to change.
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