In this section you will find information about how ESMA can respond to complaints concerning credit rating agencies, trade repositories and national competent authorities, as well as information on where to direct complaints about financial market participants.
Complaint about a trade repository
If you wish to make a complaint about a trade repository, please visit the Trade Repository page.
Complaint about a credit rating agency
If you wish to make a complaint about a credit rating agency, please visit the CRA page.
Complaint about a financial market participant other than a trade repository or a credit rating agency
If you wish to complain about a financial market participant (e.g. a bank, investment firm, etc.), please note that generally ESMA does not have power to investigate or take action against a financial market participant other than a credit rating agency or a trade repository. However, such complaints can be made to other bodies including the relevant national authorities. Further information on this and other possible options available to you can be found in the Investor Corner .
In certain cases, ESMA can investigate and take action in relation to a complaint about a National Competent Authority which is responsible for the supervision of financial market participants such as banks, investment firms, etc. Please see below for further information.
Report about an infringement of national provisions transposing the UCITS Directive
If you wish to report an infringement of national provisions transposing the UCITS Directive, please visit the section relating to “UCITS” on the Fund Management page.
Complaint about a national competent authority
ESMA has power under Article 17 of the ESMA Regulation (EU Regulation No 1095/2010) to investigate and take further action concerning the failure of National Competent Authorities to comply with their obligations under the legislation referred to in Article 1(2) of the ESMA Regulation. For further information on the scope of this power, we refer you to the ESMA Regulation (and in particular Article 17).
We also recommend that you consult ESMA’s Rules of procedure on breach of Union law investigations.
The procedure for the assessment of whether to initiate an investigation under Article 17 and the conduct of such an investigation are both provided for in these rules of procedure.
Submitting a complaint
In order for ESMA to understand your complaint and to be able to assess its admissibility, we recommend that you submit your complaint using the National Competent Authority Complaint Form.
In order to check the admissibility of your request, you can send all relevant information by email to Legal@esma.europa.eu. Alternatively you may send the information by post to:
European Securities and Markets Authority (ESMA)
103 rue de Grenelle
75345 Paris Cedex 07
ESMA aims to acknowledge receipt of your request within two weeks.
In order to address your complaint ESMA may contact you in order to obtain further documents or information.