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Publication
Keeping your dawn raid guidance current
Unannounced inspections or ‘dawn raids’ are used by antitrust authorities to obtain evidence when there are suspicions that individuals or businesses have infringed the antitrust rules.
United Kingdom | Publication | October 2023
In this latest financial services ESG briefing we compare the regimes that are being developed by EU, US and UK regulators as regards fund names. Investor demand for investment funds that incorporate environmental, social and governance factors have grown and will continue to grow in the future. The name of a fund is important as it is usually the first fund attribute that investors see and can have a significant impact on investment decisions. Financial services regulators are aware of this and have concerns regarding greenwashing.
In response in the EU, the European Securities and Markets Authority is consulting on draft guidelines on funds’ names using ESG or sustainability-related terms. In the UK, the Financial Conduct Authority is consulting on sustainable investment labels and a general anti-greenwashing rule. In the US, amendments are being proposed to rule 35d-18 of the Investment Company Act of 1940 (also known as the “Names Rule”) to expand its scope to apply to any fund name with terms that suggest, among others, investment decisions incorporating one or more ESG factors.
Publication
Unannounced inspections or ‘dawn raids’ are used by antitrust authorities to obtain evidence when there are suspicions that individuals or businesses have infringed the antitrust rules.
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The EU Foreign Subsidies Regulation, or FSR, is intended to prevent or remedy distortions of the EU internal market caused by “foreign” – meaning non-EU – subsidies benefitting companies active in the EU.
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The English High Court has given its judgment in the legal battle between FW Aviation (FWA) and VietJet Aviation Joint Stock Company (VietJet). This case revolved around the enforcement of leasing agreements for four Airbus aircraft and the alleged interference by VietJet in the aircraft’s repossession in Vietnam.
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