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ARTICLE · 12 APRIL 2023

UK Sustainability Disclosure Requirements: FCA Announces Delay

Proskauer Rose LLP
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On 29 March 2023, the United Kingdom's Financial Conduct Authority ("FCA") announceda delay to the upcoming policy statement on Sustainability Disclosure Requirements ("SDR") and investment labels.

United KingdomWealth Management
John Verwey
John Verwey
Amar Unadkat
Amar Unadkat
Sulaiman Malik
Sulaiman Malik
Michael Singh
Michael Singh
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On 29 March 2023, the United Kingdom's Financial Conduct Authority ("FCA") announceda delay to the upcoming policy statement on Sustainability Disclosure Requirements ("SDR") and investment labels.

Background

On 25 January 2023, the FCA's consultation paper (CP22/20) on the SDR and investment labels (the "Consultation") closed to comments.

The Consultation was a long-awaited step in the process for the United Kingdom to develop its own ESG disclosure regime, following the EU's Sustainable Finance Disclosure Regulation ("SFDR"). Please refer to our separate note here on the Consultation.

Following the closing date of the Consultation, final rules were expected by the end of the first half of 2023. Due to the significant response to the Consultation, however, the FCA has announced that the rules will be delayed until Q3 of 2023.

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