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FCA Expands on Anti-greenwashing Rules

The UK Financial Conduct Authority (FCA) has issued guidance to support the financial industry in meeting its anti-greenwashing requirements, due to come into force on 31 May. The rule will apply to all FCA-authorised firms making sustainability-related claims about products and services, with the full guidance due to apply as of on 2 December – alongside the FCA’s naming and marketing rules under the Sustainability Disclosure Requirements (SDR) and Investment Labels regime. The FCA is also consulting on whether to extend the labelling requirement to portfolio managers to make consumer choices easier. This would include firms that manage a group of investments for consumers, which can either be offered as standardised products or tailored services. “Confirming the new anti-greenwashing guidance and our proposals to extend the SDR and investment labels regime are important milestones that maintain the UK’s place at the forefront of sustainable investment,” said Sacha Sadan, Director of ESG at the FCA. “Consumers care about investing in products that have a positive impact on the planet and people. That’s why we want to boost the integrity of the market and ensure people can make informed decisions with their money.”

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