ESG: FCA provides guidance on notifications under SDR regime

What’s new

On 1 July 2024, the FCA added a new section to its webpage, “Sustainability disclosure and labelling regime”.

The section, which is relevant for funds using (or intending to use) a label under the Sustainability Disclosure Requirements (SDR) regime, sets out how firms should:

• notify it when a fund is using an investment label; and
• apply to make associated changes to the fund’s name, investment aims or policy.

For more information on the SDR, see our client note here.

When using an investment label, firms should notify the FCA using the form on Connect, its online notification and applications system.

What steps a firm should take will depend on whether the fund is:

1. an authorised fund considered to meet the label criteria without changes
2. an authorised fund considered to require changes
3. a new fund considered to meet the label criteria, or
4. an in-scope unauthorised AIF.

Next steps

Investment labels can be displayed from 31 July 2024, while firms must meet the naming and marketing rules from 2 December 2024.