In November 2023, the U.K.’s Financial Conduct Authority (FCA) released policy statement PS23/16 on Sustainability Disclosure Requirements (SDR) and investment labels. The rules cover a new “anti-greenwashing” rule; a voluntary labeling regime for products with a sustainability objective as part of their investment objective; product disclosure requirements; sustainability entity reporting; retail investor-specific requirements on naming and marketing; and consumer-facing product-level disclosures. This guest article by Goodwin Procter attorneys Ajay Pathak, Andrew Henderson, Danielle Reyes and Chris Ormond discusses the key elements set out in PS23/16; examines how those rules compare and contrast with the SEC’s proposed rules on environmental, social and governance investment practices and fund names, as well as the E.U.’s sustainable finance legislation; and concludes with practical action points for fund managers in scope (both now and in anticipation of the future expansion of the U.K. regime to overseas funds marketed in the U.K. and to portfolio management). See “New FCA Consultation: the U.K. Version of the E.U.’s SFDR?” (Jan. 5, 2023).