On the 9th March 2021, the Malta Financial Services Authority (the “MFSA”) issued a circular addressed to financial market participants and financial advisors on the joint supervisory statement issued by the European Supervisory Authorities (“ESAs”) on the implementation of the Sustainable Finance Disclosure Regulation (“SFDR”).
The joint supervisory statement by the ESAs was issued on the 25th February 2021 for the purpose of reducing the possible risks of divergence in the application of the SFDR within the period from the 10th March 2021 to the application date of the Regulatory Technical Standards (“RTS”), being proposed as the 1st January 2022.
The ESAs mainly recommend that in the foregoing interim period, financial market participants and financial advisers make pertinent use of the final report that has been submitted to the European Commission on the 4th February 2021. Nevertheless, as the RTS still need to be approved by the European Commission, relevant entities should be cognisant of the possible changes which may be made to the submitted RTS.
The MFSA recommends financial market participants and financial advisers to make reference to the table contained in the joint supervisory statement which provides a table summarising the disclosure obligations emanating from the SFDR and the Taxonomy Regulation.
Do not hesitate to contact us should you require any assistance or information on the implementation of the Sustainable Finance Disclosure Regulation.
