The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, has today published translations in all official EU languages of its Guidelines on funds’ names using ESG or sustainability-related terms (for detail on the guidelines, see our earlier blog post here).
The Guidelines will therefore start applying on 21 November 2024.
National competent authorities now have two months to notify ESMA whether they (i) comply, (ii) do not comply, but intend to comply, or (iii) do not comply and do not intend to comply with the guidelines.
The transitional period for funds existing before the application date will be six months after that date, i.e. 21 May 2025. Any new funds created on or after the application date must apply the Guidelines immediately.
ESMA's update (with an updated timeline) is available here.
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