Jurisdiction(s):
United Kingdom

Related legal acts

Key definition

FCA definition

What does FCA mean? In legal practice, FCA means the UK financial conduct authority, the conduct regulator for most financial services firms and markets. It sets and enforces conduct standards (including the Consumer Duty), authorises firms and individuals, and oversees markets so they function well for consumers and market integrity. Created by the Financial Services Act 2012 and exercising powers under the Financial Services and Markets Act 2000 (FSMA), the FCA replaced the FSA in 2013. It makes rules in the FCA Handbook, polices financial promotions (FSMA s.21), supervises firms, and uses extensive enforcement powers. The FCA is the UK competent authority...

UK FCA ESG Sourcebook: Climate disclosure regime for asset managers, life insurers and pension providers (TCFD entity/product reports, transition plans, scope, timings, delegation; interaction with EU SFDR)

Published by a LexisNexis Financial Services expert

Practice notes

Introduction and Background

This Practice Note provides an overview of climate-related disclosure duties for asset managers, life insurers and fca-regulated pension providers as prescribed in chapter 2 of the FCA Handbook—ESG sourcebook.

It addresses, among other areas:

which asset managers and asset owners are in scope of the rules
requirements for climate-related reports
Task force on climate-related financial disclosures (TCFD) entity and product reporting
group-level disclosures and delegate reports

The UK’s plans for the future of financial services—including mandatory TCFD-based disclosures—were outlined in the Chancellor of the Exchequer’s Financial Services statement in November 2020. For further detail, see Practice Note: Mandatory climate-related disclosures for UK financial institutions. In December 2021, the FCA published Policy Statement PS21/24 setting out its response to Consultation Paper CP21/17 on climate-related disclosures by asset managers, insurers and FCA-regulated pension providers, and confirmed the final rules. For commentary on the consultation, see News Analysis: Climate-related disclosures for the UK asset management industry—the FCA consults on TCFD-compliant measures. The rules came into force on 1 January 2022, with first public disclosures required by 30 June 2023...

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Chris Ormond

Goodwin

Chris Ormond is Knowledge & Innovation Counsel in Goodwin’s Private Investment Funds practice. She joined the firm in October 2022 and works closely with the Private Investment Funds team to provide legal, regulatory and practical insight that supports the delivery of high‑quality, consistent advice to clients.Chris partners with lawyers across the practice to share best practices, develop and curate technical know‑how, and facilitate a joined‑up approach to knowledge management across the funds platform. Her role focuses on enhancing efficiency, consistency and commercial insight across fund structuring, formation and ongoing operational matters. She is also actively involved in the development and deployment of legal technology and generative AI solutions within the funds practice, helping lawyers use these tools in a practical, risk‑aware way to enhance drafting, analysis and knowledge sharing.She has particular expertise in real estate funds and related regulatory issues....

Dr Andrew Henderson

Goodwin

Andrew Henderson, based in London, is a partner in Goodwin’s Financial Industry, FinTech, and Private Investment Funds practices. He has over twenty years of experience giving counsel and advice on UK and EU financial services and markets law and regulation, working closely with colleagues in Goodwin’s EU offices.Dr. Henderson’s work includes advice on the application of regulation, the management of regulatory risk, governance and the relationships with regulatory authorities. This includes advice on establishing, acquiring, investing in and developing financial services businesses, especially those involving new technologies connected with blockchain, distributed networks, digital assets, payments and lending. His work also includes advice to venture, private equity, credit and real estate fund managers on the structuring, establishment, and operation of their businesses and the marketing and distribution of their funds, including those marketed as ESG compliant.He has worked on regulatory change projects both for...

Web page updated on 22/05/2026

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