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Date Ref. Title Section Type Download Info Summary Related Documents Translated versions
05/12/2019 ESMA33-5-370 Response Form CP on GLs on Internal Controls for CRAs Reference DOCX
745.76 KB
02/12/2019 ESMA80-191-932 Guidance on registering securitisation repositories Reference PDF
147.3 KB
20/10/2019 ES IC1 ESMA-ASIC MoU on BMR Reference PDF
368.11 KB
16/10/2019 ESMA30-201-535 Response form to consultation on amended PRIIPs KID , Reference DOCX
576.23 KB
11/07/2019 ESMA41-137-1148 Svenska Handelsbanken AB- PUBLIC NOTICE Reference PDF
100.13 KB
11/07/2019 ESMA41-137-1146 SEB- PUBLIC NOTICE Reference PDF
99.83 KB
11/07/2019 ESMA41-137-1149 Nordea- PUBLIC NOTICE Reference PDF
99.88 KB
11/07/2019 ESMA41-137-1151 Swedbank- PUBLIC NOTICE Reference PDF
100.89 KB
28/03/2019 ESMA-41-356-14 ESMA fine Fitch France Reference PDF
432.67 KB
22/03/2019 esma335-5-731 Presentation ESG factors in CRAs Reference PDF
222.96 KB
23/07/2018 ESMA41-137-1144 Danske- PUBLIC NOTICE Reference PDF
81.01 KB
18/05/2018 ESMA33-9-226 CRA Technical Committee Terms of Reference Reference PDF
288.41 KB
27/03/2018 ESMA33-9-235 reply form Reply form- Consultation on Draft Guidelines on “as stringent as” notion in the CRA Regulation Reference DOCX
766.45 KB
11/01/2018 ESMA71-99-928 Factsheet on Credit Rating Agencies Fees Reference PDF
128.63 KB
18/12/2017 ESMA65-8-5306 Benchmarks attributes Reference PDF
229.87 KB
29/11/2017 ECB/ESMA/FSMA Risk Free Rate Working Group Application Form Reference DOCX
25.87 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.

19/10/2017 Ares(2017)5008790 European Commission request to ESAs to issue recurrent reports- CMU action , Reference PDF
294.97 KB
29/09/2017 ESMA70-145-253 Response form for the Consultation Paper on Guidelines for non-significant benchmarks Reference DOCX
768.13 KB
30/09/2016 2016/1414 Methodological Framework- Model Written Arrangements for Benchmark Colleges Reference PDF
272.57 KB

Article 46 of the Regulation (EU) No 2016/1011 of the European Parliament and of the Council of 8 June 2016 on indices used as benchmarks in financial instruments and financial contracts or to measure the performance of investment funds (Regulation) provides that the competent authority of an administrator of a critical benchmark that is referred to in points (a) and (c) of Article 20(1) of the Regulation shall establish a college.

ESMA will be a member of every college and according to Article 46(7) of the Regulation may give advice concerning the written arrangements. To promote the convergent operation of benchmark colleges, ESMA has developed model written arrangements that may be used by administrators of critical benchmarks according to Article 46(6) of the Regulation.