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|Date||Ref.||Title||Section||Type||Download||Info||Summary||Related Documents||Translated versions|
|03/01/2020||Market makers - pdf||Market makers and authorised primary dealers who are using the exemption under the SSR- PDF||Short Selling||Reference||PDF
|03/01/2020||Market makers - XLS||Market makers and authorised primary dealers who are using the exemption under the SSR- XLS||Short Selling||Reference||XLSX
|20/12/2019||ESMA71-100-1792||CRAs and TRs Follow Up Fees Factsheet||Credit Rating Agencies, Supervisory convergence, Trade Repositories||Reference||PDF
|05/12/2019||ESMA33-5-370||Response Form CP on GLs on Internal Controls for CRAs||Credit Rating Agencies||Reference||DOCX
|02/12/2019||ESMA80-191-932||Guidance on registering securitisation repositories||Credit Rating Agencies||Reference||PDF
|16/10/2019||ESMA30-201-535||Response form to consultation on amended PRIIPs KID||Fund Management, Joint Committee||Reference||DOCX
|11/07/2019||ESMA41-137-1148||Svenska Handelsbanken AB- PUBLIC NOTICE||Credit Rating Agencies||Reference||PDF
|11/07/2019||ESMA41-137-1146||SEB- PUBLIC NOTICE||Credit Rating Agencies||Reference||PDF
|11/07/2019||ESMA41-137-1149||Nordea- PUBLIC NOTICE||Credit Rating Agencies||Reference||PDF
|11/07/2019||ESMA41-137-1151||Swedbank- PUBLIC NOTICE||Credit Rating Agencies||Reference||PDF
|28/03/2019||ESMA-41-356-14||ESMA fine Fitch France||Credit Rating Agencies||Reference||PDF
|22/03/2019||esma335-5-731||Presentation ESG factors in CRAs||Credit Rating Agencies||Reference||PDF
|24/01/2019||ESMA50-164-770||Links to national websites where net short positions in shares are disclosed||Short Selling||Reference||PDF
|31/10/2018||Net short thresholds||Net short position notification thresholds for sovereign issuers||Short Selling||Reference||XLSX
According to Article 7(2) of the Short Selling Regulation, ESMA has to publish a list of the thresholds applicable to the sovereign issuers for the purpose of the notification to competent authorities of significant net short position in sovereign debt.
The way these notification thresholds are defined is further specified in the Commission Delegated Regulation No 918/2012 (the “DR”). The DR specifies that initial threshold categories shall be:
The additional incremental levels shall be set at 50% of the initial thresholds. The reporting thresholds shall be monetary amounts fixed by applying the percentage thresholds to the outstanding sovereign debt of the sovereign issuer. They will be revised and updated quarterly to reflect changes in the total amount of outstanding sovereign debt of each sovereign issuer.
In addition, the DR states that the amount of outstanding debt should be calculated using a duration adjusted approach. ESMA has published a Q&A document on how to proceed for the duration adjustment.
The table of thresholds contains the name of the sovereign issuer, the amount of outstanding debt duration adjusted, the initial threshold amount and the relevant percentage, the incremental threshold amount and the relevant percentage.
Please note that the figures of the amount of outstanding debt are duration adjusted (not nominal amounts) and are approximations provided by competent authorities.
|23/08/2018||ESMA50-164-772||Links to the national websites explaining the procedures for notifications of net short positions||Short Selling||Reference||PDF
|23/07/2018||ESMA41-137-1144||Danske- PUBLIC NOTICE||Credit Rating Agencies||Reference||PDF
|18/05/2018||ESMA33-9-226||CRA Technical Committee Terms of Reference||Credit Rating Agencies||Reference||PDF
|27/03/2018||ESMA33-9-235 reply form||Reply form- Consultation on Draft Guidelines on “as stringent as” notion in the CRA Regulation||Credit Rating Agencies||Reference||DOCX
|11/01/2018||ESMA71-99-928||Factsheet on Credit Rating Agencies Fees||Credit Rating Agencies||Reference||PDF
|06/11/2017||ESMA50-165-422||The impact of charges on mutual fund returns- correction||Fund Management, Joint Committee, Risk Analysis & Economics - Markets Infrastructure Investors||Reference||PDF
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.