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Date Ref. Title Section Type Download Info Summary Related Documents Translated versions
30/10/2014 JC/2014/01 add Addendum to Joint CP on draft ITS on the mapping of ECAIs Consultation Paper PDF
157.22 KB
The Joint Committee of the three European Supervisory Authorities (EBA, ESMA and EIOPA - ESAs) published today an addendum to the joint consultation on the mapping of the credit assessments to risk weights of External Credit Assessment Institutions (ECAIs). The addendum provides further details on the application of the rules proposed in the draft Implementing Technical Standards (ITS) in relation to particular ECAIs and is to be considered as an extension of the consultation process. The consultation period will be reopened until 30 November 2014 in order to collect additional comments. In line with the specifications included in the joint Consultation Paper published in February 2014, this addendum contains the individual mapping tables of all relevant ECAIs. The proposed mappings establish the level of capital that financial institutions should hold in order to ensure the safety and soundness of the EU financial system. These draft mappings are based on the amount of objective information available for each ECAI regarding the performance of its credit ratings. Therefore, the draft mappings mainly reflect the historical ability of ECAIs to anticipate negative credit events. For those cases where only a small number of credit ratings were available, the draft mappings have to a large extent relied on alternative information; whereas, when no relevant information was found, a certain degree of prudence has been applied. Furthermore, the addendum contains some additional aspects resulting from the cost-benefit/impact assessment analysis. The analysis shows that the proposals for the largest ECAIs are not expected to have a significant impact on financial institutions in terms of capital requirements. Only in very specific cases the average capital requirement associated with a particular ECAI might increase by up to 10%. In the case of ECAIs that currently have no mapping established, the impact is expected to reflect the true risk profile of the rated entities. In addition, the EBA also published the individual draft mapping reports that illustrate how the rules proposed in the draft ITS were applied. The draft mappings will be reviewed in light of any comments received during the consultation process. Consultation process The consultation deadline is 30 November 2014 and responses can be submitted here. All contributions received will be published following the close of the consultation, unless requested otherwise. Draft Mapping Reports
17/07/2019 ESMA35-43-1905 Call for evidence Impact of the inducements and costs and charges disclosure requirements under MiFID II Consultation Paper PDF
479.41 KB
29/06/2012 2012/415 Call for Evidence on Empty Voting , CESR Document PDF
275.66 KB
ESMA launched a Call for Evidence on Empty Voting in September 2011 to analyse the potential issues and concerns raised by the practice of empty voting and to examine whether there was a possible need for further action. An analysis of the responses received to the consultation has led ESMA to conclude that there is insufficient evidence to justify any regulatory action at the European level at present.
30/09/2019 ESMA-35-43-2090 Call for evidence on MiFID II product intervention powers Consultation Paper PDF
197.51 KB
01/10/2021 ESMA35-43-2827 Call for evidence on retail investor protection aspects Consultation Paper PDF
357.05 KB
21/10/2021 JC 2021 61 Call for evidence on the European Commission mandate regarding the PRIIPs Regulation , Consultation Paper PDF
844.1 KB
18/01/2018 ESMA35-43-904 Call for Evidence – Potential product intervention measures on contracts for differences and binary options to retail clients Consultation Paper PDF
306.85 KB
14/09/2011 2011/288 Call for evidence- Empty voting , , Consultation Paper PDF
81.13 KB
19/12/2018 ESMA35-43-1210 Consulation paper on integrating sustainability risks and factors in MiFID II Consultation Paper
24/09/2021 ESMA35-43-2836 Consultation on Review of the MiFID II framework on best execution reports Consultation Paper PDF
452.96 KB
16/10/2019 JC-2019-63 Consultation Paper on amendments to PRIIPs KID , Consultation Paper PDF
2.42 MB
15/07/2019 ESMA35-43-2019 Consultation paper on compliance function guidelines Consultation Paper PDF
677.15 KB
05/10/2016 2016/1436 Consultation Paper on Draft guidelines on MiFID II product governance requirements Consultation Paper PDF
661.2 KB
27/05/2021 ESMA82-402-200 Consultation Paper on draft TS on content and format of the STS notification for on-balance sheet securitisations Consultation Paper PDF
929.82 KB
27/05/2019 ESMA70-151-1985 Consultation paper on Guidelines for reporting under Articles 4 and 12 SFTR Consultation Paper PDF
1.32 MB
22/12/2011 2011/446 Consultation paper on guidelines on certain aspects of the MiFID compliance function requirements Consultation Paper PDF
393.94 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
22/12/2011 2011/445 Consultation paper on guidelines on certain aspects of the MiFID suitability requirements Consultation Paper PDF
355.06 KB
19/12/2018 ESMA35-43-1210 Consultation paper on integrating sustainability risks and factors in MiFID II Consultation Paper PDF
494.66 KB
22/05/2014 2014/549 Consultation Paper on MiFID II/MiFIR , Consultation Paper PDF
2.03 MB
This publication is the first step in the process of translating the MiFID II/MiFIR requirements into practically applicable rules and regulations to address the effects of the financial crisis and to improve financial market transparency and strengthen investor protection.MiFID II/MiFIR introduces changes that will have a large impact on the EU’s financial markets, these include transparency requirements for a broader range of asset classes; the obligation to trade derivatives on-exchange; requirements on algorithmic and high-frequency-trading and new supervisory tools for commodity derivatives. It will also strengthen protection for retail investors through limits on the use of commissions; conditions for the provision of independent investment advice; stricter organisational requirements for product design and distribution; product intervention powers; and the disclosure of costs and charges.Responding to this paperThe European Securities and Markets Authority (ESMA) invites responses to the specific questions listed in the ESMA MiFID II/MiFIR Consultation Paper.Please use this “form to reply”.The level 1 texts adopted by the European Council during its 13 May 2014 meeting are available here: MiFID II and MiFIR. These links are coming from the Council Press Release.

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