ESAs Launch Survey on Templates for Product Disclosures Under SFDR
ESAs launched a survey seeking feedback on the presentational aspects of product templates under the Sustainable Finance Disclosure Regulation (SFDR or Regulation 2019/2088). ESAs are inviting stakeholders to comment on layout of the templates that reflect the text of the draft regulatory technical standards from the recent public consultation (from April 23, 2020 to September 01, 2020) on content, methodologies, and presentation of disclosures under SFDR. The feedback period for this survey ends on October 16, 2020. The final content of the templates will be subject to the outcome of a concurrent consumer testing exercise and the final report of ESAs on the draft regulatory technical standards under SFDR.
ESAs propose to standardize the disclosure of information for financial products that promote environmental and/or social characteristics or have a sustainable objective. The use of standardized, mandatory templates will improve comparability of different financial products in member states in EU; these templates are intended to be included in the existing disclosures provided by Alternative Investment Fund Managers (AIFMs), Undertakings for Collective Investment in Transferable Securities (UCITSs), insurance undertakings, Institutions for Occupational Retirement Provision (IORPs), and providers of Pan-European Personal Pensions Products (PEPPs). The survey package also includes three preliminary, illustrative mockups of pre-contractual and periodic disclosure templates of products promoting Environmental and/or Social characteristics (under Articles 8 and 11 of the SFDR). The templates for disclosure of products with a sustainable investment objective (Article 9) are very similar to the templates for products promoting E/S characteristics and have not been included in the online survey.
Related Links
- Press Release
- Survey on Disclosure Templates
- Mockup 1 (PDF)
- Mockup 2 (PDF)
- Mockup 3 (PDF)
- Consultation on ESG Disclosures, April 2020
Keywords: Europe, EU, Banking, Insurance, Securities, SFDR, Regulatory Technical Standards, ESG, Disclosures, Sustainable Finance, ESAs
Featured Experts
María Cañamero
Skilled market researcher; growth strategist; successful go-to-market campaign developer
Dieter Van der Stock
IFRS subject matter expert; accounting authority; risk management specialist
Related Articles
EC Adopts Financial Reporting Changes Arising from Benchmark Reforms
EC published Regulation 2021/25 that addresses amendments related to the financial reporting consequences of replacement of the existing interest rate benchmarks with alternative reference rates.
BIS Bulletin Examines Key Elements of Policy Response to Cyber Risk
BIS published a bulletin, or a note, that examines the cyber threat landscape in the context of the pandemic and discusses policies to reduce risks to financial stability.
HMT Updates List of Post-Brexit Equivalence Decisions in UK
HM Treasury, also known as HMT, has updated the table containing the list of the equivalence decisions that came into effect in UK at the end of the transition period of its withdrawal from EU.
EBA Issues Erratum for Technical Package on Reporting Framework 3.0
EBA published an erratum for technical package on phase 1 of the reporting framework 3.0.
APRA Publishes FAQ on Measurement of Credit Risk Weighted Assets
APRA updated a frequently asked question (FAQ), for authorized deposit-taking institutions, on the measurement of credit risk weighted assets.
EBA Publishes Risk Dashboard for Third Quarter of 2020
EBA published the quarterly risk dashboard, along with the results of the Risk Assessment Questionnaire survey among 60 banks and 15 market analysts.
ECB Analysis Shows Privacy as Biggest Concern in Use of Digital Euro
ECB concluded the public consultation on the introduction of a digital euro in EU.
ECB Finalizes Guide on Supervisory Approach to Bank Consolidation
ECB published a guide that sets out the supervisory approach to consolidation in the banking sector.
SRB Chair Outlines Work Priorities for 2021
The SRB Chair Elke König published an article setting out work priorities for 2021.
FDIC Selects Companies to Compete in Final Phase of Tech Sprint
FDIC has selected 11 technology companies—including BearingPoint, Fed Reporter, Inc, and S&P Global Market Intelligence, LLC—for inclusion in the third and final phase of the rapid prototyping competition.
