Deadline for SFDR Disclosure Fast Track Filing Looms

PUBLISHED: 10th October 2022

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The Central Bank has provided updated Guidance on the SFDR Level 2 Pre-Contractual Fast-Track Filing Process for UCITS and AIFs. 

Anyone wishing to meet the deadline of 1 December 2022 to avail of the fast-track process, should start preparing the relevant filing now if this has not already been commenced. 

The Central Bank of Ireland has published an update in respect of the pre contractual document (prospectus/supplement) updates required under the implementation of the Commission Delegated Regulation (EU) 2022/1288 (SFDR Level 2 requirements) supplementing the Sustainable Finance Disclosure Regulation (SFDR).

The Process

These pre-contractual document updates are required for submission in advance of the Central Bank’s deadline of 1 December 2022 through their streamlined filing process.  Both UCITS management companies and AIFMs (Managers) will be required to certify compliance with the requirements through an attestation.

The Central Bank has cautioned that the streamlined filing process should not encourage a diminution in the standard of submissions and has warned that while a confirmation of filings will issue post filing, a sample will be taken and where queries may arise on certain applications, revisions to some documents may be required.


Managers must certify that updates to pre-contractual documentation are made in accordance with:

  • SFDR Level 2 requirements.
  • Amendments made to investment policies and strategies to allow consistency with disclosures included in the Annex.  This includes amendment to disclosures made to comply with SFDR Level 1 and/or the Taxonomy Regulation requirements which now require amendment for consistency with SFDR Level 2 disclosures.
  • Product level PAI disclosures required under Article 7(1)(a) for Article 6 funds.
  • Amendments made to the prospectus/supplement to reflect the requirements of European Commission Q&As on SFDR, ESMA supervisory briefing on sustainability risks and disclosures in the area of investment management, amendments to reflect other clarifications published by the ESAs or the Central Bank in relation to the SFDR Level 2 requirements.


This streamlined filing process is available only for disclosures under SFDR Level 2 requirements and revised documents cannot contain other unrelated amendments.  All other changes must comply with the usual Central Bank review process for the relevant fund in accordance with the standard submission processes.   Given the Central Bank’s intention to conduct sample spot checks, Managers must ensure that the quality of disclosures is high and in compliance with applicable regulatory requirements.

The Financial Services team at LK Shields Solicitors are well placed to assist you to prepare for the filing deadline.  For more information please contact Katrina Smyth at or David Naughton at

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