UK plans its own ESG taxonomy
A separate UK ESG investing taxonomy and a couple of foreign-fund access regimes that replicate EU rules are some of the ways the London government is considering using its post-Brexit powers. Meanwhile in Luxembourg, the CSSF is working to reduce complexity for market players regarding the implementation of EU sustainability rules.
Alfi - Lack of data main challenge for SFDR implementation
The lack of available data on company-level will be the main challenge for asset managers to deal with after the regulation for sustainability‐related disclosures in the financial services sector, better known as SFDR, comes into force in March next year, according to Alfi’s Nathalie Dogniez (picture).
CSSF head warns against over-regulation
With a warning against excessive regulation, and a call to action on green investing, CSSF director-general Claude Marx, made a typically colourful intervention at Monday’s virtual ALFI conference. He also gave some details of planned local regulation of teleworking arrangements.
Alfi asks for delay to sustainability disclosure rules
Alfi has asked the European Commission to delay the implementation of new rules on the disclosure of the sustainability of investments by 9 months to 1 January 2022.
According to the regulation on sustainability-related disclosures, which is supposed to come into force in March 2021, investors are required to publish information about the sustainability and climate risks of all their investments.
Liquidity holds up in Luxembourg funds
Liquidity in Luxembourg’s funds is a key concern for the CSSF, Luxembourg’s financial regulator. With all asset class crashing over the last month, investors have had no easy safe-haven options, and many have sought to sell up and hold cash. However, to date, this stress appears not to have led to the suspension of any Lux fund.
Alfi grapples with coronavirus fall-out
All of Luxembourg’s fund community is feeling the impact of the coronavirus crisis, and fund association Alfi is doing its best to offer support. At the same time however, Alfi itself is being hit by the crisis too, as part of its revenue stream partly drying up.
Alfi postponed its flagship European Asset Management Conference, due to take place on 17-18 March this year, to mid-September. There are another dozen or so events on its calendar for this year, some of which may have to be cancelled depending on the coronavirus situation.