The response concludes that the proposed amendments to the delegated act fail to fulfil the requirements of the enabling powers in the Sustainable Finance Disclosures Regulations (SFDR), since the amendments do not take the various types of financial products, their characteristics, and the differences between them, into account.
Wigge & Partners emphasize that the European supervisory authorities are required by law to apply the principle of better regulation. There is a risk that the delegated regulation may be annulled if the enabling powers in the SFDR are not respected.
The background is a consultation paper published by the Joint Committee of the three European Supervisory Authorities (EBA, EIOPA and ESMA) with proposed amendments to the SFDR Delegated Act, delegated regulation 2022/1288.
Wigge & Partners’ response can be found here.
