FCA updates on its Sustainability Disclosure Requirements (SDR) and investment labels consultation

The Financial Conduct Authority, FCA, has published a press statement relating to its now closed consultation on the introduction of sustainability fund investment labels and enhanced disclosure requirements in prospectuses (please see EventID 17994 for a detailed description of the consultation).
In this statement, the FCA provides an update on the status of the consultation which closed on January 25, 2023: Due to the large number of respondents (240, according to the Authority) and due to the fact that the FCA wants to carefully review and consider ALL the responses it received, it is postponing the issuance of a final Policy Statement to Q3/2023. All proposed implementation dates will be postponed accordingly.
The final Policy Statement will, so the FCA, take into consideration the most significant practical challenges firms would face when implementing the new labeling and disclosure requirements as proposed. Therefore, the upcoming statement is likely to contain some refinements as to the „specific criteria for the labels“ and clarifications on „how different products, asset classes and strategies can qualify for a label.