Global Trustee and Fiduciary Services Bite-Sized Issue 7 2026

9 AI CRYPTOASSETS CYBER DORA IOSCO MONEY MARKET FUNDS SUSTAINABLE FINANCE/ESG ASIA PACIFIC AUSTRALIA EUROPE IRELAND LUXEMBOURG NORTH AMERICA UNITED KINGDOM Global Trustee and Fiduciary Services Bite-Sized | Issue 7 | 2026 Quick Links European Commission Publishes Consultation on CSDDD Guidelines On 12 June 2026, the European Commission (Commission) published a consultation on the Corporate Sustainability Due Diligence Directive (CSDDD). The Commission says that the consultation will inform the development of guidelines to support the effective implementation of the CSDDD and that it will issue guidelines that provide practical orientation to companies on how to fulfil their due diligence obligations, to Member State authorities on how to implement and enforce the CSDDD, and to stakeholders on how to pursue their rights. The Commission also says that the guidelines will also be relevant for companies and other stakeholders in non-EU countries that are linked to the supply chains of companies with obligations under the CSDDD. The Commission explains that the purpose of this questionnaire is to pre-consult stakeholders with a view to collect evidence and assess needs to inform the development of the future guidelines. The consultation closes on 24 July 2026 . Link to European Commission Consultation here Simplifying Climate Disclosure Requirements for Investment Products On 5 June 2026, in Chapter 2 of its Quarterly Consultation CP26/17, the FCA stated that it is proposing to remove Taskforce on Climate-related Financial Disclosures (TCFD) product reporting requirements. In their place, the FCA says that it is proposing to introduce fewer, more targeted, and more outcomes-based rules, while maintaining the same overall scope. This aims, the FCA explains, to ensure that retail and institutional investors get the right information based on their specific needs, while giving firms more flexibility in how they communicate with them. In CP26/17, the FCA explains that its proposals form part of its wider work to streamline sustainability reporting requirements for asset managers and FCA-regulated asset owners. Under the proposals in CP26/17, the FCA says that: • Retail investors would receive relevant information on howmaterial climate risks could affect a product’s financial performance; and • Institutional clients would be able to request key emissions data from firms, but this would no longer need to be published in full reports. The FCA also says that the proposals complement its Sustainability Disclosure Requirements for asset managers, which aim to help retail investors navigate the market for sustainable investment products and reduce greenwashing. Areas covered by the FCA in CP26/17 are: • Communicating with retail clients; • Communicating with institutional clients; • Consequential amendments; – Environmental, Social and Governance (ESG) sourcebook; – Collective Investment Schemes (COLL) sourcebook; and • Rule Review Framework. CP26/17 is open until 13 July 2026 and the FCA says that it aims to finalise and implement the rule change in the autumn. Link to FCA Press Release here Link to CP26/17 here