UK FCA delays extending SDR regime to portfolio managers

The UK Financial Conduct Authority (FCA) has updated its webpage on extending the sustainability disclosure requirements (SDR) and labelling regime to portfolio managers, confirming that it no longer intends to publish a policy statement this year. The FCA had previously stated that, further to consultation paper CP24/8, it would publish a policy statement with final rules in the second half of this year. However, the updated webpage states that the FCA wants to ensure that the extension of the SDR and labelling regime delivers good outcomes for consumers, is practical for firms, and supports growth of the sector and so will continue to reflect on feedback and publish an update in due course. As a reminder, the SDR regime was originally introduced in November 2023, applying a new anti-greenwashing rule to all FCA-authorised firms and a range of disclosure, labelling and naming/marketing requirements to certain UK asset managers.

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