On 17th November 2022, the European Securities and Markets Authority ("ESMA"), the EU's securities markets regulator, published Questions and Answers ("Q&A") on Commission Delegated Regulation (EU) 2022/1288 (the "SFDR RTS"), which will come into force on 1 January 2023. The Q&A has been prepared by the three European Supervisory Authorities, namely ESMA, the EBA and EIOPA.
The Q&A in all cover a range of areas, including:
- Current value of all investments in Principle Adverse Impacts ("PAI") and Taxonomy-aligned disclosures;
- PAI disclosures;
- Financial product disclosures;
- Multi-option products;
- Taxonomy-aligned investment disclosures;
- Financial advisers and execution-only Financial Market Participants.
The Q&A tackles a number of important questions in relation to interpretation as well as other practical issues, including those relating to the use of templates.
Financial Market Participants should take note of the Q&A in preparation for any eventual filings of SFDR RTS related disclosures with the MFSA, once further guidance is issued.
The Q&As can be accessed here.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.