UK Asset Managers face new rules to clamp down on 'greenwashing' – a new regulatory regime for sustainability labels and disclosures
Client Briefings
Introduction
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The UK Financial Conduct Authority (FCA) is consulting on new rules to clamp down on ‘greenwashing’ by increasing the transparency around the sustainability credentials of investment products. The proposed rules are contained in its Consultation Paper on Sustainability Disclosure Requirements (SDR) and investment labels, which set out a specific labelling and disclosure regime that builds upon its November 2021 Discussion Paper on this topic.
This briefing focuses on the proposed requirements for asset managers and how these differ from similar rules in the EU and the US. We outline the scope and implementation timetable of the new regime, before discussing the key issues that are likely to arise for UK asset managers, particularly those with US and EU businesses.
