SFDR – The three European Supervisory Authorities publish Final Report and Draft Regulatory Technical Standards (RTS) on the disclosures required.
February 2021The Sustainable Finance Disclosure Regulation (SFDR) comes into effect on 10th March 2021. It aims to provide greater transparency on sustainability related disclosures.
In our January newsletter we noted that the Department of Finance was seeking submissions from interested parties in relation to the exercise of the national discretion in Article 17 of Regulation (EU) 2019/2088. Member States are given discretion as to whether to exempt financial advisers which employ fewer than three persons or to apply the Regulation to these entities.
The regulation applies to financial products listed below and extends to their product manufacturers and their financial advisers who are located in the EU:
- Portfolio managed by credit institutions or investment firms.
- Alternative investment funds (AIFs) and UCITs
- Insurance-based investment products (IBIPs)
- Pension products, Workplace pensions products regulated under the IORP directive and PEPP.
The final report and draft RTS will provide welcome guidance to many in advance of next week’s deadline.
See
HERE for more information.
Eilish Larkin
Compliance Consultant