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Last November the Financial Conduct Authority (FCA) published Policy Statement 23/16 (PS23/16) containing final rules and guidance on sustainability disclosure requirements (SDR) and investment labels (UK SDR regime). The rules and guidance are currently limited to UK asset managers and essentially the requirements comprise of two components

On 14 May 2023, the European Securities and Markets Authority (ESMA) published the Final Report containing Guidelines on funds’ names using ESG or sustainability related terms. The Final Report follows a public consultation which ran from 18 November 2022 to 20 February 2023 and a statement on 14 December 2023.

The objective of

On 26 March 2024, there was published in the Official Journal of the EU, Directive 2024/927 of 13 March 2024, amending the Alternative Investment Fund Managers Directive and the UCITS Directive as regards delegation arrangements, liquidity risk management, supervisory reporting, the provision of depository and custody services and loan origination by alternative investment funds.

On 29 February 2024, members of the Norton Rose Fulbright Risk Advisory and Financial Services team hosted the first in our three part webinar series on ESG.

In this first instalment of the webinar series the team provided an analysis into the SFDR vs the SDR.  In addition, the team looked closely at the increasing

On 14 February 2024, the Council of the European Union published the final compromise text of the proposed Regulation on the transparency and integrity of environmental, social and governance rating activities, and amending Regulation (EU) 2019/2088. An ‘I’ item note has also been published.

On 7 February 2024, the European Parliament and Council of the EU reached a provisional deal on a draft directive amending the Corporate Sustainability Reporting Directive (CSRD) on the time limits for the adoption of sustainability reporting standards for certain sectors and for certain third-country undertakings.


The Accounting Directive as amended by