Lux Regulator to ‘Fast Track’ ESG Disclosures
Head of investment fund supervision Marco Zwick says the CSSF will launch a fast-track procedure for updating fund prospectuses to help asset managers meet the deadline of March 10 for compliance with the EU’s Sustainable Finance Disclosure Regulation (SFDR)-
Zwick says boards of directors will have to certify that funds meet the SFDR requirements to disclose sustainability risks in their portfolios, and the CSSF will conduct sample checks.
However, the regulator recognizes that asset managers lack details about the rules since the European Commission has not yet published regulatory technical standards, and in many cases may struggle to obtain needed information from companies in which funds have invested.
Source (Subscription required): https://www.igniteseurope.com/c/2971373/371923/regulator_fast_track_disclosures