By 21 October, all EU national regulators had to declare to the European securities regulator ESMA if they intended to comply with ESMA's new "Guidelines on funds' names using ESG or sustainability-related terms". These were originally published on 14 May 2024 and translated into all EU languages on 21 August 2024. The ESMA Guidelines apply from 21 November 2024 for new funds and from 21 May 2025 for existing funds (more information available in this blog post).
Due to their nature as non-binding guidance issued by ESMA, national regulators can chose to comply with the ESMA Guidelines or explain that they do comply with the ESMA Guidelines entirely or in part.
Our National Regulator Compliance Guide contains an overview of the currently available "comply or explain" statements and of additional comments or interpretations published by national regulators of the EU member states. The guide represents the status of 25 March 2025.
Heike Schmitz
Partner, Germany
Shantanu Naravane
Partner, London
Leonie Timmers
Of Counsel, Madrid
Lewis Saffin
Senior Associate, London
Jan Labusga
Associate, Germany
Key contacts
Heike Schmitz
Partner, Germany
Shantanu Naravane
Partner, London
Leonie Timmers
Of Counsel, Madrid
Lewis Saffin
Senior Associate, London
Jan Labusga
Associate, Germany
Disclaimer
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