Legal notice

Intellectual property

  1. ESMA owns the copyright in all material on this site. This copyright does not extend to any legislative text which is publicly available or other third party materials.
  2. ESMA's name, abbreviation and logo are protected under the Paris Convention for the Protection of Industrial Property of 20 March 1883 and national laws implementing the Convention.
  3. Reproduction of all ESMA material on this site is authorised, provided the source is acknowledged, save where otherwise stated. ESMA's logo may not be used without prior permission except when reproducing ESMA material containing the logo. Where copyright vests in a third party, permission for reproduction must be obtained from this copyright holder.


  1. ESMA tries to ensure that the information on this site is correct and complete.
  2. ESMA accepts no responsibility or liability whatsoever with regard to the information on this site. ESMA is not liable for any damage arising from use or inability to use this site, or any material contained in it, or from any action or decision taken as a result of using this site or any such material.
  3. This disclaimer is not intended to limit the liability of ESMA in contravention of any requirements laid down in applicable law nor to exclude its liability for matters which may not be excluded under that law.
  4. The information on the site is of a general nature only and is not intended to address the specific circumstances of any particular individual or entity.
  5. This site offers links to other sites. ESMA has no control over the linked sites and is not responsible for the contents of any linked site nor for any problems incurred as a result of using any linked site.
  6. The information on this site can under no circumstances be regarded as professional or legal advice. If you need specific advice, you should consult a suitably qualified professional.
  7. By accessing any part of this site, you will be deemed to have accepted the terms of this legal notice.