The FCA has again delayed the publication of the SDR Policy Statement, buying firms another valuable few months until the anti-greenwashing rule goes live.
The delay will no doubt be welcome given that such a review could take some time and because the volume of work in getting ready for the Consumer Duty deadlines have understandably been prioritised.
The anti-greenwashing rule applies to all firms, whether they are caught by the rest of the SDR or not.
What's involved?
The anti-greenwashing rule will apply as soon as the SDR Policy Statement is published. This is because it is seen by the regulator as a logical extension of the 'fair, clear and not misleading' rule.
However, while the FCA may not think it requires an implementation window, for firms to ensure that they are not in breach when the rule goes live, there is review and remediation work to undertake. Teams need to review all their consumer-facing content - including websites, social media, presentations, and product/ service documentation - as well as internal policies and templates.
The delay provides an extra three months to review marketing materials and to ensure that claims around responsible, sustainable and green credentials are compatible with the FCA's newly articulated expectations.
How Adempi can help
If you need hands-on assistance, we have an experienced team to help with the review of your firm's marketing materials.
If your marketing or compliance teams would like to upskill we offer both in-house workshops and an eLearning course to help them prepare for the anti-greenwashing rule.
You can reach us on contact@adempi.co.uk