Regulatory Alerts2023-08-23 | C594CySEC Circular C594: ESMA Common Supervisory Action on Sustainability Disclosures in Investment Funds
The Cyprus Securities and Exchange Commission (CySEC) informs Investment Fund Managers that the European Securities and Markets Authority (ESMA) has launched a Common Supervisory Action to assess compliance with sustainability-related disclosures and risk integration. This initiative targets UCITS and AIF managers to evaluate adherence to the Sustainable Finance Disclosure Regulation, Taxonomy Regulation, and relevant implementing acts while gathering data on greenwashing risks. CySEC plans to conduct supervisory actions on selected samples of fund managers to verify compliance with these regulatory frameworks and expects all firms to align their practices accordingly.
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