SLV ATVP issued decision on application of ESMA guidelines on fund names containing terms related to environmental, social and management aspect or sustainability.
Follows ESMA Aug. 2024 published translations in all the official EU languages of its Guidelines on funds' names using ESG/sustainability-related terms, see #153820.
Guidelines
ESMA Guidelines on Fund Names that Include Terms Related to Environmental, Social, and Governance (ESG) or Sustainability Aspects define when names of investment funds containing terms re ESG or sustainability are unfair, unclear, or misleading.
Application
Guidelines apply to management companies as per Art 13 para 1 Investment funds and management companies Act and alternative investment fund managers as per the Alternative investment fund managers act Art 9 para 5, including managers of qualified venture capital funds, managers of qualified social entrepreneurship funds, and managers of European long-term investment funds.
Also to ATVP, when exercising supervisory powers/duties over aforementioned entities.
Effectiveness
Decision will enter into force on 15th day following publication in the Official Gazette.
However it will apply as from Nov. 21, 2024.
Regulators
SLV ATVP
Entity Types
HF; IA; Inv Co
Reference
PR, 10/10/2024; ESMA34-1592494965-657; ESG
Functions
Compliance; C-Suite; Environment; Product Design; Social
