The European Union (Sustainability-Related Disclosures in the Financial Services Sector) (Occupational Pension Schemes) Regulations 2023 (S.I. No. 86/2023) were published in the Irish Statute Book.
These regulations expand the supervisory and enforcement powers of the Pensions Authority to include provisions from Regulation (EU) 2019/2088 – Sustainable Finance Disclosure Regulation (SFDR). The amendments to the Pensions Act 1990 involve the following changes:
– The definition of the SFDR is added, referencing Regulation (EU) 2019/2088 and its amendments from Regulation (EU) 2020/852 .
– The Pensions Authority’s monitoring responsibilities are extended to include compliance with the SFDR by trustees of schemes and trust RACs.
– Trustees of a scheme or trust RAC are required to furnish the Pensions Authority with relevant information for compliance with section 59(1F) upon request.
– Specific articles of the SFDR are outlined, which trustees of a scheme or trust RAC must comply with, covering various aspects of sustainability-related disclosures.
The implementation of these regulations signifies a commitment to enhancing transparency and responsibility in the financial services sector, specifically in relation to sustainability-related disclosures for occupational pension schemes.
Edition 2023, Issue No: 19: S.I. No. 86 of 2023. EUROPEAN UNION (SUSTAINABILITY-RELATED DISCLOSURES IN THE FINANCIAL SERVICES SECTOR) (OCCUPATIONAL PENSION SCHEMES) REGULATIONS 2023.
ID
22158
Other Features
ESG disclosure
insurance
pension funds
supervisory practices
sustainability
transparency
Date Published: 2023-03-07
Date Taking Effect: 2023-03-07
Regulatory Framework: Sustainable Finance Disclosure Regulation (SFDR), Taxonomy Regulation (TR)
Regulatory Type: regulation
ID 26560
On 26 December 2023, the S.I. No. 644/2023 – European Union (Credit Servicers and Cr ...
ID 26327
S.I. No. 630 of 2023, the European Union (Alternative Investment Fund Managers) (Amendment ...
ID 26291
S.I. No. 629 of 2023 – European Union (Undertakings for Collective Investment in Tra ...
ID 25973
S.I. No. 565 of 2023 was published under the long title „CENTRAL BANK (SUPERVISION A ...
You are on the training version of RISP core with limited functions and data.
Please subscribe to RISP core for professional or academic use. We supply free real time datasets for approved academic research; professional subscriptions start at 950€ plus VAT per annum.