Taxonomy and Sustainable Finance Disclosure Regulation (SFDR) have dominated the public discussion while the upcoming amendments to MiFID II and IDD have attracted significantly less public attention. Starting on 2 August 2022, product manufacturers and distributors will have to consider customer sustainability preferences as part of the suitability assessment. It is worth noting that these obligations apply both to retail and to professional clients and that non-EU firms may also be in scope when servicing EU clients or distributing products in the EU.
Market participants are confronted with numerous questions on the implementation of the amendments: How can I integrate and explain sustainability preferences in my client conversations and which products are eligible? How do I record sustainability preferences in the suitability report? How will data be exchanged between product manufacturers and distributors? What do sustainability preferences mean for product governance and the product manufacturer’s target market concepts?
We will also provide you with a brief overview of upcoming sustainability disclosure duties and investment labels in the UK.
Herbert Smith Freehills and ISS ESG invite you to a joint webinar in which we will discuss these challenges and present possible solutions.
Heike Schmitz, Partner, Herbert Smith Freehills LLP
Thomas Harding, Associate V.P., Regulatory Solutions Lead, ISS ESG
Marina Reason, Partner, Herbert Smith Freehills LLP
Shantanu Naravane, Senior Associate, Herbert Smith Freehills LLP
Joel Yarm, Managing Director, Head of EMEA ESG Sales, ISS ESG