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Danish FSA issues warning over SFDR implementation

The Danish FSA, Finanstilsynet, states that asset managers are using the EU’s sustainable finance disclosure regulation to signify quality, which is not the point of the legislation. In fact, the FSA states it is the opposite of what the EU intended.

Photo: Håkon Mosvold Larsen / NTB

The financial sector has been quick to adapt to the EU’s sustainable finance disclosure regulation (SFDR) -- perhaps a little too quick, one might say, as the Danish FSA has now issued a warning about its implementation.

Since the EU’s SFDR came into force last year, banks, insurance companies, and asset managers have been busily categorizing their products as Article 6, 8, or 9. Article 9 requires the most comprehensive reporting, while Article 8 and 6 require less.

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