Sustainable Finance Disclosure Regulation (SFDR)
This Regulation lays down harmonised rules on sustainability-related disclosures in the EU financial services sector. It requires financial market participants and financial advisers to make pre-contractual and subsequent periodic disclosures on the integration of sustainability risks, the consideration of adverse sustainability impacts, the promotion of environmental or social characteristics, and sustainable investment objectives. Its purpose is to reduce information asymmetries, strengthen investor protection and ensure the proper functioning of the internal market.
Timeline
- 29 Dec 2019Article 4(6) to (7), Article 8(3), Article 9(5), Article 10(2), Article 11(4), Article 13(2)
- 10 Mar 2021Disclosures under Articles 3 to 5
- 30 Jun 2021Employee-number threshold under Article 4(3) and (4) applies
- 1 Jan 2022Annual report disclosures under Article 11(1) to (3)
- 10 Sep 2022AuthoritiesReport by competent authorities
- 30 Dec 2022Disclosure of adverse sustainability impacts under Article 7(1)
- 30 Dec 2022AuthoritiesCommission evaluation
Key facts
- Reference
- Regulation (EU) 2019/2088
- Adopted
- 27 Nov 2019
- Published
- 9 Dec 2019
- Status
- In force
- Topic
- Sustainable Finance
- Industries
- Financial Services
Main compliance requirements
Paid members only
The main compliance requirements, applicability questions and penalties are available in the ZC Smart Compliance Hub. Paid members and clients can sign in to the Hub to view them.
Related legislation
- Builds on Directives 2009/65/EC, 2009/138/EC, 2011/61/EU, 2013/36/EU, 2014/65/EU, (EU) 2016/97 and (EU) 2016/2341 and Regulations (EU) No 345/2013, (EU) No 346/2013, (EU) 2015/760 and (EU) 2019/1238
- also linked to Directive 2013/34/EU and Regulation (EU) 2016/1011.
Official sources
Regulation (EU) 2019/2088 on sustainability-related disclosures in the financial services sector