The European Supervisory Authorities (EBA, EIOPA and ESMA – ESAs) has published a joint Report, which provides a comprehensive analysis on the completeness, adequacy and uniformity of the applicable laws and practices on the withdrawal of license for serious breaches of the rules on anti-money laundering and countering the financing of terrorism(AML/CFT).
The statement provides clarification on key areas of the SFDR disclosures, including:
  • use of sustainability indicators;
  • principal adverse impact (PAI) disclosures;
  • financial product disclosures;
  • direct and indirect investments;
  • taxonomy-related financial product disclosures;
  • “do not significantly harm” (DNSH) disclosures; and
  • disclosures for products with investment options
The statement is part of the ESAs’ on-going efforts to promote a better understanding of the disclosures required under the technical standards of the SFDR ahead of the planned application of the rules on 1 January 2023, as laid out in the Delegated Regulation adopted by the European Commission on 6 April 2022.
ESMA has published a Final Report on amending the regulatory technical standards (RTS) on settlement discipline to postpone the application of the CSDR mandatory buy-in regime for three years.

The proposed amendment is based on the expected changes to the CSDR buy-in regime presented in the Commission’s legislative proposal for the CSDR Review and on the amendment made to CSDR through the DLT Pilot Regulation published today, which allows ESMA to propose a later start date for the CSDR buy-in regime.
The CSDR settlement discipline regime has started applying on 1 February 2022.
In December 2021, ESMA  published a statement to clarify that while the application and supervision of most CSDR settlement discipline requirements, in particular the settlement fails reporting and the cash penalties regimes, would go ahead as planned, ESMA expects NCAs not to prioritise supervisory actions in relation to the application of the buy-in regime.
ESMA’s statement will remain in place until the buy-in regime is formally suspended.