Part XXVIII

Miscellaneous

Sustainability disclosure requirements

SDR policy statement
416A
1
The Treasury may prepare an SDR policy statement.
2
An “SDR policy statement” is a statement of the policies of His Majesty’s Government concerning disclosure requirements in connection with matters relating to sustainability.
3
In preparing an SDR policy statement, the Treasury must consult the regulators.
4
The Treasury must publish any SDR policy statement in such manner as they consider appropriate.
5
The Treasury—
a
must keep any SDR policy statement under review;
b
may prepare a revised statement (and subsections (3) and (4) apply in relation to any revised statement);
c
may withdraw any SDR policy statement.
6
The Treasury may request a regulator to provide them with a report on any matter that the Treasury require in connection with the preparation of an SDR policy statement.
7
A request for a report under subsection (6)—
a
must be made in writing, and
b
may require a regulator to send the report to the Treasury within such reasonable period as may be specified in the request (or such other period as may be agreed).
8
A regulator must comply with a request under subsection (6).
9
Nothing in section 348, or in regulations made under section 349, is to be taken as preventing or restricting the ability of a regulator to disclose information to the Treasury for the purposes of this section.
10
Subsection (9) does not apply in relation to information provided to a regulator by a regulatory authority outside the United Kingdom.
Ss. 416A, 416B and cross-heading inserted (1.1.2024) by Financial Services and Markets Act 2023 (c. 29), ss. 21(2), 86(3); S.I. 2023/1382, reg. 9(1)(a)