European Commission adopts RTS on disclosure of firms’ investment policy under the IFR

Following the EBA’s publication of draft RTS last year, the European Commission has now adopted a Delegated Regulation containing RTS on the disclosure of firms’ investment policy under the IFR.

Article 52 of the IFR requires investment firms, except small and non-interconnected firms to publicly disclose information on their investment policy. Investment firms are required to disclose:

1. information on the proportion of voting rights attached to the shares it directly or indirectly holds;
2. information on the firm’s voting behaviour;
3. explanation of votes cast;
4. ratio of proposals put forward and approved; and
5. information on the use of proxy advisor firms and their voting guidelines.

The European Commission has now adopted the RTS in the Delegated Regulation, specifying uniform disclosure formats and relevant guidance for the Article 52 disclosure requirements.