Today (6 July 2023), ESMA has launched a common supervisory action (CSA) to assess the investment fund sector’s compliance with SFDR, the Taxonomy and sustainability risk and impact rules under UCITS and AIFMD.
The CSA will run throughout 2023 and until Q3 2024. CSA preliminary findings of greenwashing will be included in ESMA’s Final Report to the Commission on greenwashing due by end- May 2024. Our June 2023 briefing on ESMA’s progress report on greenwashing is available here.
The stated aim of the CSA is to promote improved comprehensibility of ESG disclosures. It will focus on:
- assessing adherence to applicable rules and standards in practice;
- gathering further information on greenwashing risks in the investment management sector; and
- identifying further relevant supervisory and regulatory intervention to address the issue.
The CSA announcement is accessible here.
Contact Us
If you have any queries on the issues discussed in this article, please get in touch with the key contacts, any member of the Asset Management & Investment Funds team or your usual William Fry contact.
Recommended Insights
Article and Insights
10
Dec 2024
December 2024 updates across outcomes from CBI ETF Review, CBI year-end deadlines,...
Partner
Nessa Joyce
Article and Insights
20
Nov 2024
November 2024 updates across sustainable finance, UK distribution, ELTIFs regulato...
Partner
Nessa Joyce
Article and Insights
21
Oct 2024
October 2024 updates across procedural changes for submissions to the CBI portal, ...
Partner
Nessa Joyce
Article and Insights
5
Sep 2024
September 2024 updates across sustainable finance, macroprudential policy for inve...
Partner
Nessa Joyce
Article and Insights
16
Aug 2024
August 2024 updates across sustainable finance, UK distribution, liquidity managem...
Partner
Nessa Joyce
Article and Insights
25
Jul 2024
Five key items ESMA wants to change in the sustainable finance framework as per it...
Partner
Nessa Joyce
Article and Insights
11
Jul 2024
Welcome to the July 2024 edition of our Asset Management & Investment Funds Update.
Consultant
Patricia Taylor
Article and Insights
17
Jun 2024
William Fry's Financial Regulation team examines some recent updates regarding EU ...
Partner
Shane Kelleher
Article and Insights
13
Jun 2024
Welcome to the June 2024 edition of our Asset Management & Investment Funds Update.
Consultant
Patricia Taylor
Article and Insights
22
May 2024
Welcome to the May 2024 edition of our Asset Management & Investment Funds Update.
Consultant
Patricia Taylor
prev
next