New UK FCA rules on climate-related disclosures — ten key points

How they will affect managers

Recently, new UK Financial Conduct Authority (FCA) climate-related disclosure requirements for asset managers, life insurers and FCA-regulated pension providers came into force.

The new rules oblige UK asset managers and asset owners to make disclosures in line with the recommendations of the Task Force on Climate-Related Financial Disclosures. Here, Matthew Feehily of Sidley Austin's UK / EU Financial Services Regulatory Group, outlines how the new regime is likely to affect asset managers and how this will impact US (and other non-UK) managers, including those with UK sub-advisers. 1. The FCA's ESG rules will not apply to non-UK asset managers that market funds under the UK implementation of the AIFMD (for now) Unlike the EU's rules for sustainability disclo...