EUROPE: Central Bank of Ireland confirms Fast Track approval in relation to new SFDR RTS
By Áine Ní Riain and Gayle Bowen
On the 17th February 2023, a new Delegated Regulation was published which amends and corrects the existing Sustainable Finance Disclosure Regulation (SFDR) regulatory technical standards with the main changes introducing disclosure requirements for Article 8 and Article 9 funds in respect of fossil gas and nuclear energy related activities to ensure alignment with the EU Taxonomy. The Delegated Regulation does not provide for a transition period and entered into force on 20 February.
The Central Bank of Ireland in order to accommodate the Delegated Regulation published their Process Clarification which confirms that the Central Bank will facilitate a fast-track filing process for the update of pre-contractual disclosure documents pursuant to the Delegated Regulation. Compliance with the Delegated Regulation is now a matter of priority for financial market participants and funds sponsors.
For more information on this regulatory update we suggest a read of our full Article or contact one of our authors.