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Date Ref. Title Section Type Download Info Summary Related Documents Translated versions
08/03/2011 2011/62 10th Extract from EECS's Database of Enforcement Decisions Final Report PDF
361.42 KB
28/06/2012 2012/412 Activity Report on IFRS Enforcement in the European Economic Area in 2011 Final Report PDF
345.02 KB

The European Securities and Markets Authority (ESMA) has published its Activity Report on IFRS Enforcement in the European Economic Area in 2011. The report provides an overview of the monitoring of compliance of financial information with the International Financial Reporting Standards (IFRS) and enforcement action taken in the European Economic Area (EEA) in 2011. The report is based on the activities of the European Enforcers Coordination Sessions (EECS) and of the accounting enforcers in the EEA (European enforcers).  This operates under ESMA's oversight and its main objective is to coordinate the enforcement activities of Member States in order to increase convergence amongst European enforcer's activities which should contribute to fostering investor confidence. Its main functions include coordination of enforcement activities through the exchange of views on particular accounting matters, providing feedback to the International Accounting Standards Board on issues related to the application of the IFRS and work on dedicated projects identified as key priorities. This report: provides an overview of enforcement activities in the EEA and the coordination of enforcement through EECS; presents the outcome and some tentative conclusions relating to the enforcement of IFRS; and provides a summary of EECS engagement with third country accounting enforcers. The report is based on the activities of EECS and the European enforcers during 2011 relating to: Activities undertaken or coordinated at European level; Issues brought to the attention of the standard setter; Ex-ante activities incurred as part of the preparation of the annual review process; Findings in respect of reviews conducted in 2011; Actions taken to improve the quality of future financial reporting; and Decisions and emerging issues discussed during EECS meetings in the year.

26/04/2012 2012/270 Actual use of sanctioning powers under MAD Final Report PDF
1.55 MB
The report provides a comparison of the use of administrative sanctioning powers across 29 EEA Member States for 2008-2010.  The results of the report will provide input to the legislative process on the new market abuse regime.
18/03/2015 2015/592 Automated Trading Guidelines- ESMA peer review among National Competent Authorities Final Report PDF
930.33 KB
25/02/2015 2015/494 Best Execution under MiFID , Final Report PDF
761.62 KB
The European Securities and Markets Authority (ESMA) has conducted a peer review on how national regulators (national competent authorities or NCAs) supervise and enforce the MiFID provisions relating to investment firms’ obligation to provide best execution, or obtain the best possible result, for their clients when executing their orders. ESMA found that the level of implementation of best execution provisions, as well as the level of convergence of supervisory practices by NCAs, is relatively low. In order to address this situation a number of improvements were identified, including: • prioritisation of best execution as a key conduct of business supervisory issue; • the allocation of sufficient resources to best execution supervision; and • a more proactive supervisory approach to monitoring compliance with best execution requirements, both desk-based and onsite inspections. The review was conducted on the basis of information provided by 29 NCAs and complemented by on-site visits to the NCAs of France, Liechtenstein, Luxembourg, Malta, Poland and Spain.
28/02/2008 08-099 CESR Executive summary to the report on administrative measures and sanctions as well as the criminal sanctions available in Member States under the Market Abuse Directive Final Report PDF
874.1 KB
04/12/2019 ESMA70-21038340-46 Compliance table for the Guidelines on market making activities under the Short Selling Regulation , , Compliance table PDF
267.48 KB
01/12/2020 ESMA32-67-142 Compliance table on ESMA Guidelines on the enforcement of financial information , Compliance table PDF
150.56 KB
13/02/2020 ESMA70-145-66 Compliance table regarding MAR guidelines for persons receiving market soundings , Compliance table PDF
138.03 KB
04/02/2019 ESMA70-145-67 Compliance table regarding MAR guidelines on delay in the disclosure of inside information , Compliance table PDF
177.87 KB
10/02/2021 ESMA34-45-1128 Compliance table- Guidelines on performance fees in UCITS and certain types of AIFs , , Compliance table PDF
222.38 KB
04/02/2019 ESMA70-145-153 Compliance table- MAR Guidelines on information relating to commodity derivatives markets or related spot markets for the purpose of the definition of inside information on commodity derivatives , , Compliance table PDF
179.29 KB
14/02/2013 2013/218 Considerations of materiality in financial reporting , Final Report PDF
446.95 KB
28/09/2015 2015/1455 CBA Cost analysis for Final Report on MAR technical standards Final Report PDF
2.59 MB
15/04/2021 ESMA80-193-1713 EMIR and SFTR data quality report 2020 , , , Final Report PDF
791.94 KB
30/06/2015 2015/1057 ESMA Guidelines on Alternative Performance Measures , Final Report PDF
484.57 KB
31/03/2015 2015/659 ESMA Report on Enforcement and Regulatory Activities of Accounting Enforcers in 2014 , Final Report PDF
633.7 KB
20/04/2012 2012/236 ESMA's Technical Advice on possible delegated acts of the short-selling and certain aspects of CDS , Technical Advice PDF
509.39 KB
03/02/2015 2015/224 ESMA’s technical advice on possible delegated acts concerning the Market Abuse Regulation Technical Advice PDF
1021.03 KB
This advice:•    specifies the MAR market manipulation indicators, by providing examples of practices that may constitute market manipulation as well as proposing “additional” indicators of market manipulation; •    recommends to set the minimum thresholds that exempt certain market participants in the emission allowance market from publicly disclosing inside information at six million tonnes of CO2eq per year and at 2,430 MW rated thermal input;•    suggests the way to determine to which regulator delays in disclosure of inside information needs to be notified.  •    provides clarifications on the enhanced disclosure of managers’ transactions. - ESMA recommends disclosing  any acquisition, disposal, subscription or exchange of financial instruments of the relevant issuer or related financial instruments carried out by managers,, further illustrated through a non-exhaustive list of types of transactions subject to this obligation.  . ESMA also clarifies the transactions that can be allowed by the issuer during a closed period when normally managers are prohibited to trade; and•    proposes procedures and arrangements to ensure sound whistleblowing infrastructures – i.e. EU national regulators should allow the receipt of reports of infringements, including appropriate communication channels and guarantee the protection of reporting and reported persons, with respect to their identity and their personal data. Next steps ESMA has sent its technical advice to the European Commission for its consideration in drafting its implementing standards regarding MAR. ESMA’s regulatory technical standards regarding MAR will be delivered in July 2015.
03/06/2013 2013-614 ESMA’s technical advice on short selling regulation Technical Advice PDF
2.3 MB
Final Report 2013/614 ESMA‘s technical advice 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

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