CP24/8: Extending the SDR regime to Portfolio Management

Read CP24/8 (PDF)

Why we are consulting 

We want to help consumers, including those who use portfolio management services, to navigate the sustainable investment market by extending the SDR and labelling package to portfolio management.

We consulted on including portfolio management in our earlier consultation, CP22/20. We received detailed, supportive feedback from the consultation and our recent engagement, which has helped us refine our proposals for this sector.

We are proposing to apply a broadly similar approach to labelling for portfolio managers as introduced for fund managers, to have a consistent approach and create a level playing field.

Who should respond

This consultation applies to:  

• firms providing portfolio management services

Next steps 

This consultation has now closed. 

September 2024 update

We are carefully considering the feedback to ensure that the regime protects consumers but also recognises and takes account of any practical challenges that firms may have.

We intend to publish a Policy Statement and further information about implementation in Q2 2025. 

We are aware that it is taking longer than expected for some asset managers to comply with the SDR and labelling regime and of the potential impact this might have on portfolio managers. This has been highlighted to us in the consultation feedback and industry engagement.

We thank all the respondents and the many stakeholders we have engaged with for their constructive and detailed feedback.

Background 

This consultation follows our Consultation Paper (CP22/20) and corresponding Policy Statement (PS23/16) on Sustainability Disclosure Requirements and investment labels, which introduced a package of measures for fund managers.