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Date Ref. Title Section Type Download Info Summary Related Documents Translated versions
25/08/2014 JC/2014/43 lt Vertybinių popierių (ESMA) ir bankų (EBI) sektorių skundų nagrinėjimo gairės , Reference PDF
153.6 KB

The European Securities and Markets Authority (ESMA) and the European Banking Authority (EBA) published today their Joint Committee final Report on guidelines for handling consumer complaints in the securities and banking sectors. The document aims to increase market confidence and for the benefit of consumers and firms alike it will ensure a harmonised approach to handling complaints for all 28 EU Member States and across all financial services sectors.The final report published today is part of the efforts of the European Supervisory Authorities to bring further supervisory convergence across the securities and banking sectors. It was developed on the basis of the existing complaints-handling guidelines established by EIOPA (the European Insurance and Occupational Pensions Authority) for the insurance sector. The report was launched for a public consultation last year and this final version takes into consideration the feedback received.ESMA and the EBA consider that these guidelines will ensure a consistent approach to complaints-handling across the EU. Consumers can purchase financial services and products in the investment, banking and insurance sectors across the entire EU Single Market and these guidelines will allow them to refer to a single set of complaints-handling arrangements. EU consumers will therefore be able to rely on the same approach irrespective of what type of product they have purchased and where they have purchased it.In addition to strengthening consumer protection -a key statutory objective for ESMA and for the EBA-, the guidelines will also allow firms, some of which sell products from more than one sector across the EU, to streamline and standardise their own complaints-handling arrangements. National regulators too will be able to supervise the same harmonised requirements across all sectors of financial services in their own jurisdictions.The guidelines will be translated into the official languages of the European Union (EU) and they will become applicable two months after the date of publication of their translations.

11/02/2016 2016/215 ToR CRSC Reference PDF
131.23 KB
06/11/2017 ESMA50-165-422 The impact of charges on mutual fund returns- correction , , Reference PDF
590.09 KB

ERRATUM - In the original version of this document published on 19 October 2017 in table V.3 on page 4, the values in the last four rows of column five were accidentally misreported. For this reason, ESMA now provides a corrected version, including the corrected values and a footnote pointing to the initial mistake.

ESMA carried out a first analysis on fund performance measures, developing initial metrics to analyse the impact of ongoing fees, one-off charges and inflation on the returns of mutual funds. Key preliminary results for the EU fund industry show: Substantial reduction in net returns available to investors, especially in the retail sector and weakly cost- or price-sensitive investment decisions by retail investors

On average ongoing fees and one-off charges and inflation-reduced returns available to investors by 29% of gross returns between 2013 and 2015. These reductions apply to all market segments, while varying across jurisdictions, asset classes and client types. Relative return reductions range from 11% for passive equity fund shares to 44% for retail fund shares in bond mutual funds. Relative and absolute return reductions for actively managed and retail fund shares tend to exceed those of passively managed and institutional fund shares. Despite the impact of fees and charges on the net outcome to investors, these do not seem to be reflected in investor choices.

03/08/2012 OJ/26/06/2012 - tendes specs Tender specifications- Annex VII- Financial porposal Reference PDF
47.23 KB
27/10/2017 ESMA32-63-364 Summary of results of the fact finding exercise on IFRS 9 and IFRS 15 , Reference PDF
292.46 KB
01/12/2011 2011/SMSG/15 Summary of conclusions- SMSG meeting on 11 October 2011 Reference PDF
80.45 KB
19/10/2011 2011/SMSG/3 Summary of conclusions- meeting of the SMSG on 21 July 2011 Reference PDF
59.38 KB
24/02/2015 2014/SMSG/53 Summary of conclusions SMSG/BoS meeting 5 November 2014 Reference PDF
154.07 KB
24/02/2015 2014/SMSG/52 Summary of conclusions SMSG meeting 5-6 November 2014 Reference PDF
158.23 KB
19/05/2015 2015/SMSG/012 Summary of conclusions SMSG meeting 5 February 2014 Reference PDF
166.43 KB
06/05/2014 2014/SMSG/05 Summary of conclusions SMSG meeting 29 January 2014 Reference PDF
168.3 KB
13/11/2012 2012/SMSG/44 Summary of conclusions SMSG meeting 28/06/12 Reference PDF
198.96 KB
03/11/2014 2014/SMSG/45 Summary of conclusions SMSG meeting 23 September 2014 Reference PDF
135.32 KB
13/10/2014 2014/SMSG/44 Summary of conclusions SMSG meeting 10-11 July 2014 Reference PDF
158.39 KB
17/07/2014 2014/SMSG/022 Summary of conclusions SMSG meeting 10 April 2014 Reference PDF
167.19 KB
11/06/2013 2013/SMSG/02 Summary of conclusions of the SMSG meeting on 30-31 January 2013 Reference PDF
114.11 KB
20/12/2013 2013/SMSG/022 Summary of conclusions of the SMSG meeting on 25-26 September 2013 Reference PDF
74.17 KB
14/03/2013 2012/SMSG/72 Summary of conclusions of the SMSG meeting on 23 November 2013 Reference PDF
146.34 KB
27/03/2014 2013/SMSG/027 Summary of conclusions of the SMSG meeting on 21 November 2013 Reference PDF
148.21 KB
11/02/2014 2013/SMSG/012 Summary of conclusions of the SMSG meeting on 19 June 2013 Reference PDF
91.46 KB

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