ESMA launches CSA

The European Securities and Markets Authorities (ESMA) and the National Competent Authorities (NCAs) have launched Common Supervisory Action (CSA).

CSA will review asset manager compliance with SFDR, including disclosures and inclusion of sustainability risks.

The NCAs hope to collaborate to understand the following:

• If rules and standards are being applied properly
• Whether there are any greenwashing risks in investment management
• Regulatory solutions to the above.

The objective is to improve disclosure transparency and streamline industry efforts.

Supervisory activity will take place this year until Q3 2024.