Tag: MioTech
ESAs warn Commission of ‘burdensome’ disclosures requirements if market players aren’t given sufficient time to prepare ESAs warn Commission of ‘burdensome’ disclosures requirements if market players aren’t given sufficient time to pre… ESAs warn Commission of ‘burdensome’ disclosures requirements if market players aren’t given sufficient time to prepare
Mar 1st, 2021
The European Supervisory Authorities (ESAs) have said that EU policymakers need to move fast on devising detailed new disclosure rules for ESG-labelled financial products, or push back the date by when investors must adopt the rules.
The Sustainable Finance Disclosure Regulation (SFDR) will introduce new reporting requirements for financial products that claim to have sustainability objectives. The fundamental principles of those requirements have been decided, and will come into force next week, but the precise details - known as the Regulatory Technical Standards (RTS) - are still being fleshed out. As a result, investors will initially follow more flexible rules, and will only have to adopt the stricter RTS from next year.
But now the ESAs, the influential trio of financial supervisors including the European Securities and Markets Authority, the European Banking Authority and the European Insurance and Occupational Pensions Authority…