Director liability and the SFDR

The NED has heard that the SFDR continues to cause some fund directors a lot of problems. And it might be some time before these problems are sorted out.

Fund directors could be held personally liable for SFDR breaches. Mistakes are bound to be made; it will take some time for the SFDR’s Level 2 to bed down. It is likely that the Commission, ESMA and national regulators such as the CBI and CSSF will go easy on fund managers and their directors this year as the industry works its way through the details and complexity of this measure. However, sooner or later standards and commonality will have to be established.

To read more on this story see the March issue of The NED