The FCA is allowing firms temporary flexibility to comply with its “naming and shaming” rules in respect of sustainability disclosures. The rules take effect from 2 December and firms should be taking all reasonable steps to ensure they will comply. The FCA is pleased to see that firms are progressing, but it has taken some firms longer than expected to make the changes they need to make. As a result, the FCA will allow some flexibility until 2 April 2025 for firms to comply, but only in exceptional circumstances, and where the firm has submitted a completed application for approval of amended disclosures by 1 October 2024 and its currently using specified terms in the name of the fund and is intending to use a label or to change the fund name.
Published date: 10 September 2024
