October 27, 2020

Volume X, Number 301

Advertisement

October 27, 2020

Subscribe to Latest Legal News and Analysis

October 26, 2020

Subscribe to Latest Legal News and Analysis

ESG: EU Survey on Mandatory Disclosure Templates for Use by Financial Services Firms

On September 21, the European Supervisory Authorities (ESAs) published a survey setting out the details on mandatory disclosure templates on sustainability‐related disclosures in financial services (the Survey).

The Survey concentrates on including pre-contractual and periodic disclosures on Environmental Social and Governance (ESG) matters alongside/together with existing disclosure requirements under EU sectoral legislation by financial market participants, including alternative investment fund managers, Undertakings for the Collective Investment in Transferable Securities (UCITS) management companies, insurance undertakings, institutions for occupational retirement provision and pan-European personal pension product providers.

The ESAs propose to standardize disclosures by requiring the use of specific templates across different financial products in different EU member states. The ESAs recognize the need for standardization of disclosures, which would promote comparability with respect to ESG information, in line with certain requirements of the EU Regulation on sustainability-related disclosures in the financial services sector (SFDR).

Three illustrative mock-ups of templates are available on the Survey webpage. The final content of the templates is subject to the outcome of concurrent consumer testing and the final report of the ESAs on the draft regulatory technical standards under the SFDR.

The deadline for comments on the Survey is October 16.

The Survey is available here.

©2020 Katten Muchin Rosenman LLPNational Law Review, Volume X, Number 269
Advertisement

TRENDING LEGAL ANALYSIS

Advertisement
Advertisement

About this Author

Carolyn H. Jackson, International Attorney, Katten Muchin law firm
Partner

Carolyn Jackson is a partner in Katten Muchin Rosenman UK LLP and is a Registered Foreign Lawyer. She provides US financial regulatory legal advice to a broad range of market participants, including commercial banks, investment banks, investment managers, broker-dealers, electronic trading platforms, clearinghouses, trade associations and over-the-counter derivatives service providers.

Carolyn guides clients in the structuring and offering of complex securities, commodities and derivatives transactions and in complying with US securities and commodities laws...

+44 0 20 7776 7625
Nathaniel Lalone, Katten Muchin Law Firm, Financial Institutions Attorney
Senior Associate

Nathaniel Lalone, a partner at Katten Muchin Rosenman UK LLP, has a broad range of experience in the regulation of financial products and financial markets, and frequently provides regulatory and compliance advice to trading venues, clearing houses and buy-side firms active in the over-the-counter (OTC) derivatives, futures and securities markets. He is actively involved in advising clients on the implementation of MiFID 2 and MiFIR in the European Union as well as the international reach of US financial services regulation. He also has significant experience with structuring and documentation relating to OTC derivatives and structured products.

Prior to joining Katten, Nathaniel was a member of the US Regulatory and the Derivatives and Structured Finance practices at Allen & Overy LLP.

+44 0 20 7776 7629
Neil Robson, private equity fund managers counselor, Katten Law Firm, London
Partner

Neil Robson, a regulatory and compliance partner with Katten Muchin Rosenman LLP, focuses his practice on counseling hedge and private equity fund managers and other investment advisers on operational, regulatory and compliance issues. He regularly addresses Financial Conduct Authority (FCA) and EU authorization and compliance under both the EU Alternative Investment Fund Managers Directive (AIFM Directive) and MiFID, cross-border issues in the financial services sector, market abuse, anti-money laundering and regulatory capital requirements, formations and buyouts of...

44-0-20-7776-7666
Advertisement
Advertisement