Flashnews: Integration of sustainability into AIFMD, UCITS and MiFID

05/10/2021

Currently AIFMD, UCITS and MiFID do not take into account sustainability risks and Principal Adverse Impacts (PAIs).

On 2 August 2021, the final level 2 measures were published by the European Commission focusing on the integration of sustainability - as defined in SFDR - into AIFMD, UCITSMiFID Suitability and MIFID Products.

EU AIFMs, UCITS management companies, and MiFID investment firms which are currently subject to any or all of the AIFMD, UCITS or MiFID regimes will be affected by these changes. The changes to the MiFID regime will also affect fund managers who perform MiFID services such as portfolio management and investment advice.

Updates of existing rules to take account of sustainability:

  • Organisation (AIFMD, UCITS & MiFID)

  • Conflicts of interest (AIFMD, UCITS & MiFID)

  • Due diligence when making investment decisions (AIFMD & UCITS)

  • Suitability assessment (MiFID)

  • Product governance (MiFID)

The changes are applicable as of August 2022.

Marie Claire de Saint Exupéry Senior Advisor Public Affairs SGSS
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