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Delegated acts integrating sustainability into EU AIFMD, EU UCITS and EU MiFID now published

Delegated acts integrating sustainability into EU AIFMD, EU UCITS and EU MiFID now published

Overview

On 2 August 2021 various amending measures were published in the EU Official Journal which will require EU Alternative Investment Fund Managers, EU UCITS management companies and EU MiFID investment firms (including portfolio managers and adviser/arrangers) to integrate sustainability risks and factors into their policies and procedures.

We previously referred to these measures in our April 2021 briefing on the wider EU Sustainable Finance Package as it affects asset managers and large portfolio companies and, before that, in the Sustainability section of our 2021 New Year Briefing.

The links to the various amending measures are below:

  • Commission Delegated Regulation (EU) 2021/1255 amending Delegated Regulation (EU) 231/2013 (the AIFMD Delegated Regulation) as regards the sustainability risks and sustainability factors to be taken into account by Alternative Investment Fund Managers;

  • Commission Delegated Regulation (EU) 2021/1253 amending Delegated Regulation (EU) 2017/565 (the MiFID Org Regulation) as regards the integration of sustainability factors, risks and preferences into certain organisational requirements and operating conditions for investment firms;

  • Commission Delegated Regulation (EU) 2021/1254 correcting Delegated Regulation (EU) 2017/565 (the MiFID Org Regulation) as regards the integration of sustainability factors, risks and preferences into certain organisational requirements and operating conditions for investment firms and defined terms for the purposes of MiFID II;

  • Commission Delegated Directive (EU) 2021/1270 amending Directive 2010/43/EU (the UCITS Implementing Directive) as regards the sustainability risks and sustainability factors to be taken into account for Undertakings for Collective Investment in Transferable Securities (UCITS).

 

Legislation amending Solvency II and the Insurance Distribution Directive was also published.

 

Next steps

All the Delegated Regulations and Directive will enter into force on 22 August 2021 and will all apply from 2 August 2022.

 

If you would like further information or assistance in understanding the impact of these EU measures, please speak to your usual Travers Smith contact or any of the individuals below.