EC delays introduction of level 2 SFDR rules

The European Commission is to delay the implementation of the Sustainable Finance Disclosure Regulation Level 2 rules.

The SFDR Level 2 rules are now due to be implemented at ‘the beginning of 2022’.  Level 1 regulation will enter into force in March 2021. The Commission has written to two trade associations, the Italian Assogestioni and the German Bundesverband Investment und Asset Management in response to their calls for a general deferral of the SFDR requirements.

The Commission’s letter confirms that the application date for the Level 2 RTS will be delayed:

“In order to provide financial market participants and financial advisers as well as supervisors with time for implementation, the Regulatory Technical Standards will become applicable at a later stage.”