Implementation of SFDR – European Commission launches consultation
On 14 September 2023, the European Commission launched a public consultation as well as a targeted consultation to seek feedback on the implementation of the Sustainable Finance Disclosure Regulation (“SFDR”).
The public consultation is addressed to a broad range of stakeholders and deals with SFDR as it currently is today, as well as the potential issues that stakeholders might face when implementing it, namely data challenges, implementation costs and potential greenwashing considerations, amongst others.
The targeted consultation seeks feedback from financial market participants on the actual disclosure requirements, with particular reference to the format, content and timing of such disclosures. It also encompasses the marketing and investor documentations of the financial products and provides options for the establishment of a categorisation system for financial products.
Both consultations will run until 15 December 2023.
Author: Paul Falzon (Senior Regulatory Advisor, Ganado Advocates)