Ireland Update: Updates On SFDR Level 2

On 4 October 2022, the Central Bank of Ireland (the “Central Bank”) published a notice of intention available here with process clarifications for UCITS and AIFs pre-contractual documentation updates ahead of the implementation of the SFDR Level 2¹ requirements applying from 1 January 2023 (the “SFDR Level 2 Deadline”).

The intention to make available a fast-track filing process for prospectus updates had been flagged in advance by the Central Bank to industry

The notice advises that there will be a streamlined filing process for documentation updates that relate only to the following:

• SFDR Level 2 requirements;
• amendments made to the investment policies and strategies to allow consistency with the disclosures included in the annex. This includes amendment to disclosures made to comply with SFDR Level 1 and/or the Taxonomy Regulation requirements which now require amendment for consistency with SFDR Level 2 disclosures;