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|Date||Ref.||Title||Section||Type||Download||Info||Summary||Related Documents||Translated versions|
|24/09/2021||ESMA70-156-3914||Consultation Paper on the review of certain aspects of the Short Selling Regulation||Short Selling||Consultation Paper||PDF
|12/07/2019||ESMA31-62-1239||Consultation Paper on Guidelines on prospectus disclosure||Prospectus||Consultation Paper||PDF
|15/12/2017||ESMA31-62-802||Consultation Paper on draft RTS under the new Prospectus Regulation||Prospectus||Consultation Paper||PDF
|29/09/2017||70-145-105||Draft Guidelines on non-significant benchmarks||Benchmarks, Guidelines and Technical standards||Consultation Paper||PDF
|07/07/2017||ESMA70-145-127||Consultation paper on the evaluation of the short-selling regulation||Market Integrity, Short Selling||Consultation Paper||PDF
|06/07/2017||ESMA31-62-532||Draft technical advice on format and content of the prospectus||Prospectus||Consultation Paper||PDF
|06/07/2017||ESMA31-62-649||Draft technical advice on content and format of the EU Growth prospectus||Prospectus||Consultation Paper||PDF
|06/07/2017||ESMA31-62-650||Draft technical advice on scrutiny and approval of the prospectus||Prospectus||Consultation Paper||PDF
|28/10/2016||2016/1529||Joint ESMA and EBA Guidelines on the assessment of the suitability of members of the management body and key function holders||Guidelines and Technical standards, MiFID - Investor Protection||Consultation Paper||PDF
|31/05/2016||2016/732||Guidelines on participant default rules and procedures under CSDR||Guidelines and Technical standards, Post Trading||Consultation Paper||PDF
The European Securities and Markets Authority (ESMA) under Article 41(4) of Regulation (EU) No 909/2014 of the European Parliament and of the Council on improving securities settlement in the European Union and on central securities depositories and amending Directives 98/26/EC and 2014/65/EU and Regulation No 236/2012 (CSDR) may issue guidelines in accordance with Article 16 of Regulation (EU) No 1095/2010 in order to ensure consistent application of Article 41 of CSDR relating to participant default rules and procedures.
Section 2 contains information on the background and mandate, Section 3 contains an analysis of the scope and content of the proposed guidelines, while Section 4 contains the proposed guidelines.
Annex I sets out a summary of the questions contained in this paper and Annex II includes a high level cost-benefit analysis for the guidelines.
ESMA will consider the feedback it will receive to this consultation with a view to finalising the guidelines by Q4 2016.
|25/09/2015||2015/1463||ESMA Consultation Paper on ESEF||Corporate Disclosure, European Single Electronic Format, Transparency||Consultation Paper||PDF
|19/12/2014||2014/1566||Draft Regulatory Technical Standards on European Electronic Access Point (EEAP)||Transparency||Consultation Paper||PDF
Responding to this paper ESMA invites comments on all matters in this paper and in particular on the specific questions summarised in Annex III. Comments are most helpful if they:1. respond to the question stated;2. indicate the specific question to which the comment relates;3. contain a clear rationale; and4. describe any alternatives ESMA should consider. In order to respond to this paper, please follow the instructions given in the document ‘Reply form for the EEAP Consultation Paper’ also published on the ESMA website. ESMA will consider all comments received by 30 March 2015. All contributions should be submitted online at www.esma.europa.eu under the heading ‘Your input - Consultations’. Publication of responses All contributions received will be published following the close of the consultation, unless you request otherwise. Please clearly and prominently indicate in your submission any part you do not wish to be publically disclosed. A standard confidentiality statement in an email message will not be treated as a request for non-disclosure. A confidential response may be requested from us in accordance with ESMA’s rules on access to documents. We may consult you if we receive such a request. Any decision we make not to disclose the response is reviewable by ESMA’s Board of Appeal and the European Ombudsman. Data protection Information on data protection can be found at www.esma.europa.eu under the heading Legal Notice. Who should read this paper In particular, comments are sought from issuers, officially appointed mechanisms, investors, users of regulated information and stakeholders at large who are affected by Directive 2004/109/EC of December 2004 as amended by Directive 2013/50/EC.
|26/09/2014||2014/1186||Consultation paper on draft RTS on prospectus related issues under the Omnibus II Directive||Prospectus, Corporate Disclosure||Consultation Paper||PDF
|ESMA invites comments on all matters in this paper and in particular on the specific questions summarised in Annex I. Comments are most helpful if they:• respond to the question stated;• indicate the specific question to which they relate;• contain a clear rationale; and• describe any alternatives ESMA should consider.ESMA will consider all comments received by 19 December 2014. All contributions should be submitted online at www.esma.europa.eu under the heading ‘Your input - Consultations’. Publication of responses All contributions received will be published following the close of the consultation, unless you request otherwise. Please clearly and prominently indicate in your submission any part you do not wish to be publically disclosed. A standard confidentiality statement in an email message will not be treated as a request for non-disclosure. A confidential response may be requested from us in accordance with ESMA’s rules on access to documents. We may consult you if we receive such a request. Any decision we make not to disclose the response is reviewable by ESMA’s Board of Appeal and the European Ombudsman.Data protection Information on data protection can be found at www.esma.europa.eu under the heading ‘Legal Notice’.Who should read this paper This document will be of interest to all stakeholders. It would primarily be of interest to investors, issuers, offerors or persons asking for admission to trading on a regulated market, as well as to any market participant who is affected by Directive 2003/71/EC of 4 November 2003 (the Prospectus Directive) as amended by Directive 2010/73/EU and Directive 2010/78/EU and its Regulation (Commission Regulation (EC) No 809/2004) and Delegated Regulations (Commission Delegated Regulation (EC) No 486/2012, No 862/2012, No 759/2013 and No 1392/2014.|
|21/03/2014||2014/300||Draft Regulatory Technical Standards on major shareholdings and indicative list of financial instruments subject to notification requirements under the revised Transparency Directive||Corporate Disclosure, Transparency||Consultation Paper||PDF
|The European Securities and Markets Authority (ESMA) has launched a consultation on draft Regulatory Technical Standards (RTS) under the revised Transparency Directive relating to the notification of major shareholdings and the indicative list of financial instruments subject to notification requirements. The consultation runs until 30 May 2014. The revised Transparency Directive 2013/50/EC (TD) was published in the Official Journal of the European Union on 6 November 2013 and entered into force on 27 November 2013. ESMA is required to submit certain draft Regulatory Technical Standards (RTSs) on major shareholdings (for details on each RTS, see the relevant section) to the European Commission (Commission or EC) by 27 November 2014. According to Articles 10 and 15 of Regulation (EU) No 1095/2010 of the European Parliament and of the Council establishing ESMA (ESMA Regulation), ESMA must conduct a public consultation before submitting draft RTSs to the Commission. This Consultation Paper (CP) therefore seeks stakeholders’ views on proposals for such RTSs. The input from stakeholders will help ESMA finalise the draft RTSs. Respondents to this CP are encouraged to consider the costs and benefits that the draft RTSs would imply and provide the relevant data to support their arguments or proposals. The CP also seeks stakeholders’ views on the proposed content of an indicative list of financial instru-ments referenced to shares and with economic effect similar to holding shares and entitlements to acquire shares. To respond|
|15/03/2013||2013/316||Draft Regulatory Technical Standards on specific situations that require the publication of a supplement to the prospectus||Prospectus, Corporate Disclosure||Consultation Paper||PDF
|The Consultation Paper sets out a draft Regulatory Technical Standard concerning situations that require the systematic publication of a supplement to the prospectus which the European Securities and Markets Authority (ESMA) is obliged to develop in accordance with Article 16(3) of the Prospectus Directive. The listed situations are concrete examples of the general obligation in Article 16(1) to mention in a supplement every significant new factor, material mistake or inaccuracy relating to information included in the prospectus which is capable of affecting the assessment of the securities. ESMA believes that the test whether a new factor, mistake or inaccuracy qualifies as a triggering event for producing a supplement is the same test as whether information should be included in the prospectus. As a consequence, significance or materiality should be assessed according to the same qualitative and/or quantitative criteria used when drafting the prospectus. In light of this, ESMA has identified a short list comprising 10 situations, which will always require issuers, offerors or persons asking for admission to trading to draw up and publish a supplement to the prospectus.The CP includes a draft Regulatory Technical Standard setting out the situations that would require a systematic publication of a supplement as well as the minimum content of such a supplement. Responses to the consultation should be submitted online by 28 June 2013.|
|12/02/2013||2013/203||On the evaluation of the Regulation (EU) 236/2012 of the European Parliament and of the Council on short selling and certain aspects of credit default swaps||Short Selling||Consultation Paper||PDF
|01/10/2012||2012/607||Further amendments to ESMA’s Recommendations for the consistent implementation of the Prospectus Regulation regarding mineral companies||Prospectus, Corporate Disclosure||Consultation Paper||PDF
|17/09/2012||2012/580||Exemption for market making activities and primary market operations under Regulation (EU) 236/2012 of the European Parliament and the Council on short selling and certain aspects of Credit Default Swaps||Short Selling||Consultation Paper||PDF
|20/06/2012||2012/380||ESMA’s technical advice on possible delegated acts concerning the Prospectus Directive as amended by the Directive 2010/73/EU||Prospectus, Corporate Disclosure||Consultation Paper||PDF
|Responses to this consultation paper should be submitted online by 20 August 2012.|
|15/02/2012||2012/98||ESMA's draft technical advice on possible Delegated Acts concerning the regulation on short selling and certain aspects of credit default swaps ((EC) No XX/2012)||Short Selling||Consultation Paper||PDF
|The purpose of this consultation is to seek comments on the technical advice that ESMA proposes to give to the European Commission on a number of possible delegated acts concerning the Regulation as listed in the Commission request for advice. These delegated acts should then be adopted in accordance with Article 290 of the Treaty of the Functioning of the European Union (TFEU). ESMA will consider the feedback it receives to this consultation and to the open hearing to be held on 29 February 2012 in March 2012 and expects to publish a final report and submission of the draft advice on Delegated Acts to the European Commission by mid-April 2012.|