Consumer credit

ESMA and EEA sign MoU to enhance sustainable finance cooperation

The European Securities and Markets Authority (ESMA) and the European Environment Agency (EEA) have signed a Memorandum of Understanding (MoU) to formalise and strengthen cooperation on sustainable finance. The MoU sets out terms for collaboration on integrating environmental factors into the EU sustainable finance framework and its supervision.

OFSI updates UK Financial Sanctions FAQs

The Office of Financial Sanctions Implementation (OFSI) has updated its UK Financial Sanctions FAQs, adding three FAQs Q162–164 relating to General Licence INT/2025/6641960. The FAQs clarify that the licence does not apply to assets held in, by, or via the National Settlement Depository (NSD), that OFSI has not changed its policy towards the NSD and that non-designated person clients may generally terminate their relationship with designated brokers without requiring a licence, once their funds are removed.

Financial Services—other developments (20/8/2025)

A round-up of other developments, which have not been covered in full by the LexisNexis Financial Services practical guidance team but may nevertheless be of interest.

TFC consults on draft transition finance guidelines

The Transition Finance Council (TFC), co-founded by the City of London Corporation and the UK government, has launched a consultation on draft Transition Finance Guidelines aimed at mobilising capital for high-emitting sectors. The voluntary framework sets out a series of principles and factors designed to establish common minimum expectations, enabling transitioning businesses, investors, financial institutions, insurers, governments and international organisations to confidently identify credible transition finance across asset classes and jurisdictions, including emerging markets. The Guidelines are intended to support the UK’s goal to become a global hub for transition finance by providing a clear, flexible and proportionate playbook for funding the decarbonisation of complex industrial processes in sectors such as transport, agriculture and cement. Responses are sought by 19 September 2025. A further consultation on revised guidelines is expected later in 2025, with final guidelines scheduled for publication in 2026.