The Financial Conduct Authority (FCA) has determined there is still a notable amount of progress to be made by fund managers in order to align with its upcoming ESG ‘Guiding Principles’ regulation.
The FCA published its review ahead of its final rules and guidance on Sustainability Disclosure Requirements and investment labels regime, which is expected to be released by the end of this year. The regulator determined that while most fund management firms had made "efforts to comply" with its expectations around the design, delivery and disclosure of their ESG and sustainable funds, "further improvement is needed". In the review, the FCA said it had found "evidence of good practice, such as the development and use of appropriate ESG and sustainability scoring systems and benchmark...
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