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Date Ref. Title Section Type Download Info Summary Related Documents Translated versions
13/12/2012 2012/824 Written statement from the Chair of the European Securities and Markets Authority (ESMA) to the Agriculture Committee of the U.S. House of Repre-sentatives on the Dodd-Frank derivatives reform and the challenges facing U.S. and international markets Speech PDF
84.55 KB
07/02/2012 2012/73 What problems do consumers face when seeking financial advice?- speech by Steven Maijoor Speech PDF
43.02 KB
This speech was delivered at the EP/EC event "Financial advice provided by non-profit entities to consumers" on 7 February 2012.
03/10/2018 ESMA70-156-787 WFE_Speech_Steven Maijoor Speech PDF
185.2 KB
19/11/2018 ESMA32-60-403 Video Tutorial on the European Single Electronic Format- Script Reference PDF
166.3 KB
16/05/2019 ESMA34-45-712 Verena Ross- ICMA 2019 conference speech , , , Speech PDF
134.24 KB
17/11/2015 2015/1680 Verena Ross Statement ECON 17 Nov 2015 , Speech PDF
164.34 KB
28/11/2018 ESMA35-43-1376 Verena Ross Keynote speech at DSW-Better Finance International Investors’ Conference , Speech PDF
247.6 KB
05/12/2017 ESMA34-45-450 Verena Ross Keynote ICI Global conference Speech PDF
187.78 KB
22/09/2017 ESMA71-319-53 Verena Ross Keynote AFME Compliance and Legal Conference , Speech PDF
236.94 KB
31/03/2016 UCITS RF UCITS Infringement reporting form template Reference DOCX
51.1 KB
26/04/2013 2013/514 Towards an EU-Securities Market: Challenges for Banks. ESMA Executive Director, Verena Ross Speech PDF
84.88 KB
25 April 2013, National Bank of Belgium, Brussels European Banking Federation Conference – National Bank of Belgium        
06/06/2018 ESMA71-319-79 Towards a genuine single European financial market – the role of regulation and supervision, CIRSF Annual International Conference 2018- Lisbon- Verena Ross Speech PDF
264.18 KB
04/04/2016 2016/229 ToR SCSC Reference PDF
93.7 KB
04/04/2016 2016/224 ToR OWG IMSC Reference PDF
113.23 KB
04/04/2016 2016/223 ToR IMSC Reference
17/10/2017 ESMA71-99-635 The State of European Financial Markets- Steven Maijoor, Opening Address, ESMA Conference , Speech PDF
175.8 KB
26/04/2012 2012/271 The sovereign debt crisis and the EU single market: where is further work needed from a securities markets perspective? Speech PDF
292.2 KB
This speech was given by Steven Maijoor, ESMA Chair, at the ECB high level conference on Financial Integration and Stability on 26 April 2012.
13/06/2012 2012/367 The role of ESMA in European and international regulatory cooperation Speech PDF
161.62 KB
Speech by Verena Ross, Executive Director of ESMA, given on 12 June 2012 at the International Council of Securities Associations in Copenhagen
11/07/2011 2011/11/07 The new European Supervisory Markets Authority: helping enhance the resilience of financial markets Speech PDF
43.2 KB

The new European Supervisory Markets Authority: helping enhance the resilience of financial markets - speech by Michel Barnier, EU Commissioner, at the ESMA inauguration

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.

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