EU Taxonomy Regulation
Taxonomy: Articles 20-27 Platform, Competent Authorities, Penalties, Review and Final

EU Taxonomy Regulation TAXO-Art.21_22_23: Competent authorities + measures + amendments to other EU acts (Taxonomy Articles 21-23)

Article 21 designates competent authorities. Member States ensure that the competent authorities referred to in Article 14(1) of SFDR also monitor the compliance of FMPs + financial advisers + undertakings under Article 8(1) of this Regulation. Article 22 measures + penalties: Member States shall lay down the rules on measures + penalties applicable to infringements of Articles 5, 6 and 7 (pre-contractual disclosure) of this Regulation. The measures + penalties shall be effective + proportionate + dissuasive. Article 23 amends SFDR (Regulation (EU) 2019/2088) to ensure Taxonomy alignment information is integrated into SFDR Article 8 + 9 product disclosures + the SFDR RTS Annex II / III / IV / V templates. Article 23 also amends NFRD (Articles 19a + 29a of Directive 2013/34/EU - now CSRD-replaced) to integrate the Article 8 Taxonomy KPI disclosure into corporate non-financial reporting.

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