On 11 March 2022, the European Commission adopted a Delegated Regulation supplementing the Investment Firms Regulation (IFR) with regard to regulatory technical standards for public disclosure of investment policy by investment firms. Annex 1 and Annex 2 have also been adopted which, respectively, list the disclosure of investment policy by investment firms and sets out instructions on disclosure of investment policy by investment firms.

The provisions of the Delegated Regulation specify uniform disclosure formats and associated instructions for the requirements on investment policy by investment firms referred to in Article 52(1) of the IFR. The disclosure required includes information on the proportion of voting rights attached to the shares held directly or indirectly by the investment firms, information on their voting behaviour, an explanation of votes and the ratio of proposals put forward and approved, information on the use of proxy advisor firms and information on their voting guidelines.

The delegated act comes into force on the twentieth day following that of its publication in the Official Journal of the European Union.