FCA launches sustainability support group for advisers

investmentweek.co.uk:

The FCA will sit as an active observer and has asked the group to report on how the advice sector can be supported in delivering good practice in the second half of 2024.

The regulator has named Daniel Godfrey chair and Julia Dreblow vice-chair of the group.

Meanwhile, the Personal Investment Management & Financial Advice Association will provide the secretariat.

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The group was announced in November last year by the regulator as part of its aim to support the advice industry in understanding the Sustainability Disclosure Requirements (SDR) and its labels.

The FCA will sit as an active observer and has asked the group to report on how the advice sector can be supported in delivering good practice in the second half of 2024.

The chair will appoint the group's membership from across the advice sector, including both small and larger industry participants. The group will also engage with external stakeholders throughout its work to ensure a balanced representation of views, including those of consumers.

FCA director of environmental, social and governance Sacha Sadan said: «We believe in the value of solutions being led and designed by industry and look forward to seeing the group focus on practical ideas to support the advice sector in building its capabilities on sustainable finance.»

SDR has consumer at its heart but adviser role is now key

Godfrey added: «We intend to move quickly to appoint a set of members to the group that represents all stakeholders. The project will additionally seek the widest possible range of views.

»It is vital that advisers are empowered to fully comprehend and integrate sustainability risks as material