Ireland ESG Series - Part 4: Proposed Amendments to UCITS and AIFMs

New regulations focus on sustainability in the financial services sector (Part 4 – Proposed amendments to legislation governing UCITS and AIFMs)

Part 1 of this advisory series provides an overview of the key provisions of the Disclosures Regulation. Part 2 in this series considers the BMR Amendment. Part 3 in this series looks at the key provisions of the Taxonomy Regulation and this Part sets out the proposed amendments to the legislation governing UCITS and AIFMs.

On 8 June 2020, the European Commission published draft delegated acts relating to amendments to legislation governing UCITS; AIFMs; insurers; and investment firms and advisers. These proposed amendments seek to clarify how sustainability risks and other sustainability factors can be integrated into the organisational, operational and risk management processes of these entities. This advisory focuses on the proposed amendments introduced for UCITS and AIFMs. Separately we have prepared tables which detail the specific amendments proposed to the UCITS Directive and the AIFM Level 2 Regulations.

 

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