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Date Ref. Title Section Type Download Info Summary Related Documents Translated versions
04/02/2019 ESMA20-95-1105 2019 Regulatory Work Programme , , Report PDF
308.68 KB
02/10/2020 ESMA20-95-1273 2021 Annual Work Programme , , , Report PDF
608.58 KB
28/09/2021 ESMA20-95-1430 2022 Annual Work Programme , , , Report PDF
589.43 KB
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.
09/01/2019 ESMA50-157-1391 Advice on Initial Coin Offerings and Crypto-Assets Report PDF
882.48 KB
18/12/2014 2014/1560 Advice- Investment-based crowdfunding Final Report PDF
482.2 KB
Crowdfunding is a means of raising finance for projects from ‘the crowd’ often by means of an internet-based platform through which project owners ‘pitch’ their idea to potential backers, who are typically not professional investors.  It takes many forms, not all of which involve the potential for a financial return.  ESMA’s focus is on crowdfunding which involves investment, as distinct from donation, non-monetary reward or loan agreement.Crowdfunding is relatively young and business models are evolving. EU financial services rules were not designed with the industry in mind.  Within investment-based crowdfunding a range of different operational structures are used so it is not straightforward to map crowdfunding platforms’ activities to those regulated under EU legislation. Member States and NCAs have been working out how to treat crowdfunding, with some dealing with issues case-by-case, some seeking to clarify how crowdfunding fits into existing rules and others introducing specific requirements.To assist NCAs and market participants, and to promote regulatory and supervisory convergence, ESMA has assessed typical investment-based crowdfunding business models and how they could evolve, risks typically involved for project owners, investors and the platforms themselves and the likely components of an appropriate regulatory regime. ESMA then prepared a detailed analysis of how the typical business models map across to the existing EU legislation, set out in sections 1 to 6 of this document.
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.
25/05/2021 ESMA-50-164-4518 Call for evidence- Digital Finance Consultation Paper PDF
300.37 KB
26/03/2020 ESMA70-151-2852 Consultation Report PTRR Services- Article 85(3a) of EMIR , Consultation Paper PDF
537.27 KB
20/11/2020 ESMA74-362-932 CP on DRSP criteria for derogation , , Consultation Paper PDF
384.54 KB
20/11/2020 ESMA74-362-837 CP on DRSP fees , , Consultation Paper PDF
526.22 KB
27/03/2020 ESMA74-362-47 CP on the TS on reporting data quality data access and registration of TRs under EMIR REFIT , , Consultation Paper PDF
2.66 MB
02/06/2016 2016/773 Discussion Paper on the Distributed Ledger Technology Applied to Securities Markets , Consultation Paper PDF
573.86 KB
29/09/2017 70-145-105 Draft Guidelines on non-significant benchmarks , Consultation Paper PDF
557.29 KB
03/06/2020 ESMA50-164-3342 Draft Guidelines on Outsourcing to Cloud Service Providers Consultation Paper PDF
390.7 KB
26/05/2016 2016/725 Draft RTS on indirect clearing arrangements under EMIR and MiFIR , , Final Report PDF
740.71 KB
15/04/2021 ESMA80-193-1713 EMIR and SFTR data quality report 2020 , , , Final Report PDF
791.94 KB
17/10/2019 ESMA42-111-4895 EMIR data quality peer review , Report PDF
862.01 KB
06/04/2020 ESMA 50-165-1098 ESMA annual statistical report on performance and costs of retail investment products in the EU- 2020 , , Report PDF
4.08 MB

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