ESG and Sustainable Finance - The Disclosure Regulation

Investment fund managers and their investment funds under management need to start preparing for the application of the Disclosure Regulation1  on 10 March 2021. Please also see our article  on the impact of the Disclosure Regulation on asset management activities.

In addition, in order to help you navigate through the applicable legal texts, an interactive compilation of the Disclosure Regulation is available on our website. By using the electronic version of this compilation, you will have direct access to a consolidated version of the Disclosure Regulation and the draft level 2 disclosure text (“Draft Implementing Regulation”)2  as well as the relevant articles of the Taxonomy Regulation and the annexes of the Draft Implementing Regulation. The European Commission’s proposals to amend the UCITS and AIMD level 2 measures are also included.

1

“Disclosure Regulation” refers to Regulation (EU) 2019/2088 of 27 November 2019 on sustainability-related disclosures in the financial services sector, as amended.

2

The Draft Implementing Regulation is included in a Consultation Paper published by the European Supervisory Authorities (ESAs) (Ref: 2020 16) in April 2020. The consultation closed on 1 September 2020. The next steps are the submission of a final report on those implementing measures by the ESAs to the EU Commission and the formal adoption by the EU Commission (not expected before December 2020-January 2021).