The United Kingdom’s Financial Conduct Authority (FCA) recently updated the “next steps” information on its dedicated webpage for the discussion paper concerning “Sustainability Disclosure Requirements and investment labels” (DP21/4).
In the discussion paper, the financial watchdog sought fresh feedback regarding the Sustainability Disclosure Requirements for specific asset owners who are regulated by the FCA and asset managers, as well as viewpoints on a labelling system for proposed for sustainable investment products.
UK companies and consumers in need of expert financial advice in Chester, Birmingham, Manchester and other major cities across the country often consult wealth managers. Among the many services they offer, wealth management teams can construct diverse portfolios that balance levels of risk and return. If investors have an interest in sustainable investment products, they can also source specific assets that are in line with their client’s ethics, attitude towards and interest in environmental, social and governance (ESG) investing.
The original deadline for stakeholders who wished to submit a response was January 2022, with consultation to take place in the Q2 of this year. However, the consultation period has been extended.
The FCA has now updated the “next steps” section, indicating that it intends to now consult on its proposed policies in autumn this year. The FCA will apply the feedback to DP21/4 to help inform its proposal developments. The FCA seeks to use the extra time to make sure that stakeholders have enough time to consider the policies and to account for international policy initiatives.