After the end of the Brexit transition period on December 31, 2020, frictions, and barriers to trade between the UK and the EU are slowly emerging as industries now have to adapt to new rules and standards. This may have been the first time that the reality of Brexit hit the unfortunate driver but, surely, he is not alone. After explaining the new post-Brexit rules to the driver, the official was reported as saying “Welcome to the Brexit, Sir. If you are affected by SFDR and would like to find out more about how we could help your firm, please feel free to contact your normal relationship manager.Ī number of media outlets and newspapers reported earlier in January the news of a Dutch border official confiscating goods from a driver arriving in the Netherlands from the UK. We have developed an SFDR toolkit, which is comprised of the following: It requires firms to make disclosures on their website and to clients on a pre-contractual and periodic basis, based on those policies and taking into account the types of funds or other products they manage or advise upon. SFDR requires in scope firms to make policy decisions about how sustainability is integrated into their business and how adverse impacts of investment decisions on sustainability factors are considered. Although the SFDR comes in after the Brexit transitional period, there are a number of ways in which SFDR could be relevant for UK firms, for instance where firms are marketing into the EU.įor more details, please see our recent article, here. The SFDR is an EU regulation that will be implemented from Maand applies to investment managers and certain financial advisers. Updates from the FCA during November 2020Īre You Ready for the Sustainable Finance Disclosure Regulation? Updates from the FCA during December 2020
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