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Date Ref. Title Section Type Download Info Summary Related Documents Translated versions
15/11/2017 ESMA20-92-68 ESMA Staff Stakeholder contacts in the Third Quarter 2017 Reference PDF
144.95 KB
10/11/2017 ESMA35-43-349 Q&As on MiFID II and MiFIR investor protection topics Q&A PDF
766.3 KB
30/10/2017 ESMA32-51-370 Q&A on ESMA Guidelines on Alternative Performance Measures , Q&A PDF
566.5 KB
20/10/2017 ESMA31-62-780 Q&A on Prospectus Related Topics , , Q&A PDF
1.21 MB
05/10/2017 ESMA35-42-597 Speech by Steven Maijoor on financial education and investor protection in Europe- IOSCO World Investor Week , Speech PDF
222.15 KB
05/10/2017 ESMA71-99-610 ESMA maintains focus on supervisory convergence and risk assessment in 2018 Press Release PDF
148.97 KB

The European Securities and Markets Authority (ESMA) has published its 2018 Work Programme (WP), which sets out its priorities and areas of focus for 2018 in support of its mission to enhance investor protection and promote stable and orderly financial markets.

For 2018, the key areas of focus under ESMA’s activities of supervisory convergence, assessing risks, single rulebook and direct supervision will be:

  • Providing guidance and promoting the consistent application of MiFID II and MiFIR by market participants and National Competent Authorities (NCAs);

  • Ensuring the quality, integration, usability and transparency of the data that ESMA collects;

  • Contributing to the development of Level 2 measures in relation to the revised Prospectus regime; AND

  • Enhancing the effectiveness and lasting impact of supervisory activities at individual credit rating agencies (CRA) and trade repositories (TR) level.

The overall budget for 2018 is expected to be €42,051,386 with a projected staff of 232.

 

 

05/10/2017 ESMA20-95-619 2018 Work Programme , Report PDF
533.61 KB
05/10/2017 ESMA71-99-612 2017 Calendar of the Chair and Executive Director Reference PDF
288.32 KB
02/10/2017 ESMA71-99-608 Annex (Template for the Assessment of Collective Suitability) , Reference XLSX
72.7 KB
29/09/2017 ESMA71-99-602 ESMA appoints new chairs to Standing Committees , , , , , , , Statement PDF
143.69 KB
26/09/2017 ESMA71-99-599 EBA and ESMA provide guidance to assess the suitability of management body members and key function holders , , , Press Release PDF
243.97 KB

The European Banking Authority (EBA) and the European Securities and Markets Authority (ESMA) have published their joint Guidelines to assess the suitability of members of management bodies and key function holders.

26/09/2017 ESMA71-99-598 Joint ESMA and EBA Guidelines on the assessment of the suitability of members of the management body and key function holders , , Guidelines & Recommendations PDF
1.48 MB
13/09/2017 ESMA43-318-1079 Warning- Unauthorised use of ESMA’s identity and logo , Reference PDF
241.2 KB
07/09/2017 Delegation agreement - FI/DK Delegation Agreement between Finanssivalvonta and Finansinspektionen , Reference PDF
233.71 KB
28/07/2017 ESMA20-92-66 ESMA Staff Stakeholder contacts in the Second Quarter 2017 Reference PDF
140.84 KB
13/07/2017 ESMA35-43-748 Consultation Paper on guidelines on certain aspects of the MiFID II suitability requirements Consultation Paper PDF
740.94 KB
13/07/2017 ESMA35-43-762 Opinion to support supervisory convergence in the area of investment firms in the context of the United Kingdom withdrawing from the European Union , Opinion PDF
236.23 KB
06/07/2017 ESMA71-99-522 ESMA appoints new member to its Management Board , Statement PDF
144.98 KB
28/06/2017 ESMA35-36-885 Product Intervention- General Statement , Statement PDF
123.04 KB

This statement provides an update on the European Securities and Markets Authority’s (ESMA) work in relation to the sale of contracts for differences (CFDs), binary options and other speculative products to retail investors.

 

ESMA has been concerned about the provision of speculative products such as CFDs, rolling spot forex and binary options to retail investors for a considerable period of time and has conducted ongoing monitoring and supervisory convergence work in this area. In this context, ESMA has previously published a number of Q&As on CFDs and other speculative products[1] to foster supervisory convergence, having established a CFD Task Force in July 2015, and also issued a further investor warning on the sale of CFDs, binary options and other speculative products in July 2016[2].

 

However, ESMA remains concerned that these supervisory convergence tools may not be sufficiently effective to ensure that the risks to consumer protection are sufficiently controlled or reduced. ESMA is therefore discussing the possible use of its product intervention powers under Article 40 of MiFIR to address investor protection risks in relation to CFDs, rolling spot forex and binary options.

 

ESMA is in the process of discussing the possible use of its product intervention powers under Article 40 of MiFIR, the possible content of any such measures, and how they could be applied. However, ESMA can confirm that the measures being discussed for (i) CFDs and rolling spot forex and (ii) binary options include proposals that take into account a number of measures that have been adopted or publicly consulted on by EU National Competent Authorities. These measures include leverage limits, guaranteed limits on client losses, and / or restrictions on the marketing and distribution of these products.

 

In accordance with Article 40 of MiFIR, any intervention measures must be approved by the ESMA Board of Supervisors and can only come into effect from 3 January 2018 at the earliest[3].

16/06/2017 Delegation agreement - SE/DK Delegation Agreement between Finanstilsynet and Finansinspektionen , Reference PDF
113.56 KB

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