The FCA recently published its Primary Market Bulletin 45 which deals with some key ESG corporate reporting developments and a few important reminders, including:

IFRS Sustainability Disclosure Standards

The FCA is clearly a proponent of the development of common international corporate reporting standards for climate-related financial disclosures (see FCA Report: TCFD-aligned Disclosures 2022).  In 2024 the FCA plans to consult on the climate-related disclosure rules for listed companies to reference the new IFRS Sustainability Disclosure Standards issued by the International Sustainability Standards Board (ISSB) and aims to have a final policy position by the end of 2024 (with new requirements to apply for financial years beginning on or after 1 January 2025). 

The UK Sustainability Disclosure Standards are not expected to diverge from the baseline set by the ISSB standards (save where necessary to provide for any UK specific issues) and the FCA encourages listed companies to incorporate the ISSB standards into plans for future reporting.

Auditor Registration (Third Country Issuers)

The FCA reminds issuers that the DTRs require the auditor of a third country issuer to be registered with the Financial Reporting Council.  If the FCA becomes aware that a published audit report has been provided by a third country auditor who is not registered, it will temporarily suspend the issuer's listing under LR 5.1.1 R.

Multi-factor Authentication

Multi-factor authentication will now be mandatory for access to the FCA's Electronic Submission System to protect and control access to the FCA’s data.  More information is available here.