ESG – changes to MiFID, AIFMD and UCITS Level 2 measures published

On 2 August 2021, the following delegated acts were published in the OJ:

Under AIFMD

• a Delegated Regulation, which amends the existing AIFMD Level 2 Delegated Regulation;

  These changes will apply from 1 August 2022.

Under the UCITS Directive

• a Delegated Directive, which amends the existing UCITS Level 2 Delegated Directive made under the UCITS Directive.

  These changes will apply from 1 August 2022.

Under MiFID 2

• a Delegated Regulation which amends organisational requirements (including suitability assessments) under the MiFID 2 Delegated Regulation (EU) 2017/565.

  These changes will apply from 2 August 2022; and

• a Delegated Directive which amends product governance obligations under the MiFID 2 Delegated Directive (EU) 2017/593.

  These changes will apply from 22 November 2022.

The delegated acts are essentially identical to the versions adopted by the Commission in April 2021, differing only in the inclusion of the dates on which the changes take effect.

Please see our client note which shows what changes are made to the existing Level 2 measures by these new delegated acts.