Laura WilesPer its announcement in February 2025, the FCA has confirmed that it will not be publishing a policy statement on plans to extend the Sustainability Disclosure Requirements (SDR) and investment labels regime to portfolio managers in Q2 2025, as planned. The decision was made to ensure that the SDR regime appropriately protected consumers, while considering the implementation challenges for firms.
The FCA has reflected on feedback to the consultation, and set out some key themes arising in responses. It notes that there is overall support for extending the regime to portfolio managers.
Currently, the FCA will not be finalising rules on extending the SDR, and instead intends to prioritise the incoming multi-firm review in model portfolio services, which will focus on how firms are applying the Consumer Duty.