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FSMA publishes its interpretations and expectations on Sustainable Finance Disclosure Regulation in Belgium

On 9 March, the FSMA published a new communication on the new Sustainable Finance Disclosure Regulation, which entered into force on 10 March. Under the Sustainable Finance Disclosure Regulation, banks, fund managers and investment firms must disclose how they integrate sustainability risks and factors in their investment decisions and investment advice.

As the European rules that will further implement and specify this Regulation have been delayed, firms may face challenges in complying with these new disclosure rules. The FSMA’s detailed communication sets out how the regulator expects Belgian firms to apply these rules and hence provides welcome guidance to the sector, but may also entail new compliance challenges.

In this publication, Axel de Backer and Sarah De Dijn give their views on this new Communication, which will have an important impact across the Belgian financial sector.

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