Publication
Government Investigations in Singapore 2025
We have contributed the Singapore chapter of Getting the Deal Through, Government Investigations 2025.
Global | Publication | December 2022
Requirement | CSRD |
Scope - EU Companies |
Covers EU Companies which are: a) Listed on a regulated market in the EU; or b) A "large company" (listed or non-listed) which has at least two of the following:
|
Scope – Non-EU Companies |
Extends to Non-EU Companies which have the following criteria: a) a turnover of over €150 million in the EU and; b) a subsidiary (which is a large or listed subsidiary) or a branch (with net turnover of €40 million) in the EU. |
Reporting Requirements |
Information must be clearly identifiable in a section of the management report and will cover sustainability matters including:
|
Standards |
Companies will be required to report on sustainability according to mandatory reporting standards. The European Financial Reporting Advisory Group (EFRAG) are developing a framework of reporting standards which will apply to (i) topics and (ii) sectors. Topical standards were drafted by EFRAG on 23 November 2022 which cover to the following topics:
Sectorial standards will be developed by EFRAG to cover:
The Commission is expected to adopt the standards in their final form in June 2023 and 2024 respectively. |
Auditor’s assurance |
Mandatory requirement for review of disclosures and assurance by a statutory auditor or independent assurance services provider that there has been no material misstatement in company’s disclosures. |
Digital Tagging |
Requirement to prepare annual financial reports in XHTML format and mark sustainability information in financial statements and management reports with a digital ‘tag’ so that it is machine readable. |
The CSRD will enter into force 20 days after publication on the EU Official Journal. The provisions will be applicable in stages between 2024 and 2029:
It is estimated that 50,000 companies will be covered by the new rules. Companies will need to assess their reporting strategies in light of the CSRD and develop mechanisms to collect and monitor relevant, verifiable data as well as disclose relevant information in a transparent and efficient manner backed by an independent verification.
The Norton Rose Fulbright Environment team will continue to monitor the CSRD as it gradually comes into force and we will keep a close eye on the accompanying standards as they are developed.
If you have any questions or would like any further information on these issues, please contact the team.
Publication
We have contributed the Singapore chapter of Getting the Deal Through, Government Investigations 2025.
Publication
The private credit market and direct lending have grown and diversified immensely in the past decade, offering alternative sources and terms of debt compared to those historically provided by the syndicated leveraged loan and public issuance markets. Consequently, they are fast becoming pivotal components in the capital ecosystem, so much so that the Bank of England consider that the private credit market is currently responsible for approximately $1.8 trillion of debt issuance, which is four times its size in 2015. This growth has been particularly pronounced in Europe and the US but there has also been significant activity in Asia.
Publication
The EU’s Artificial Intelligence Regulation, commonly referred to as the AI Act, is expected to come into force during the summer of 2024 (the AI Act). The AI Act will be the first comprehensive legal framework for the use and development of artificial intelligence (AI), and is intended to ensure that AI systems developed and used in the EU are safe, transparent, traceable, non-discriminatory and environmentally friendly.
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