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Date Ref. Title Section Type Download Info Summary Related Documents Translated versions
22/12/2015 2015/WP/2015/2 Working Paper No.2, 2015 “Monitoring systemic risk in the hedge fund sector” Final Report PDF
872.37 KB

The working paper proposes new measures for systemic risk in the hedge fund sector. These measures are based on the ability of hedge funds to influence (be influenced by) the performance trend of the entire hedge fund sector. The proposed measures display a high ability to identify periods of financial distress, are robust to modifications in the underlying econometric model and deliver an innovation in the monitoring of systemic risks in the fund industry.

20/09/2013 2013/1138 Trends, Risks, Vulnerabilities No. 2, 2013 Final Report PDF
2.92 MB
12/03/2014 2014/188 Trends, Risks, Vulnerabilities No. 1, 2014 Final Report PDF
2.33 MB
14/02/2013 2013/212 Trends, Risks and Vulnerabilities report Final Report PDF
2.03 MB
03/04/2018 ESMA31-62-800 Technical advice under the Prospectus Regulation Final Report PDF
4.7 MB
09/03/2016 ESAs/2016/21 RTS on Risk Mitigation LegisWrite Final Report PDF
419.38 KB
03/07/2013 2013/326 Retailisation in the EU Final Report PDF
976.31 KB
28/03/2011 2011/22 Report- ESMA Data on Prospectuses Approved and Passported- July 2010 to December 2010 , Final Report PDF
134.79 KB
30/08/2016 2016/1234 Report on Trends, Risks and Vulnerabilities No.2, 2016 Final Report PDF
3.07 MB
14/09/2015 2015/1290 Report on Trends, Risks and Vulnerabilities No.2, 2015 Final Report PDF
2.88 MB
06/11/2017 ESMA50-165-416 Report on Trends, Risks and Vulnerabilities No.2 2017- correction Final Report PDF
2.89 MB

ERRATUM - In TRV 2 2017,  p.39 table V.3, 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.

20/03/2017 ESMA50-165-279 Report on Trends, Risks and Vulnerabilities No.1, 2017 Final Report PDF
2.73 MB
17/03/2016 2016/348 Report on Trends, Risks and Vulnerabilities No.1, 2016 Final Report PDF
3.13 MB
11/03/2015 2015/526 Report on Trends, Risks and Vulnerabilities No 1 2015 Final Report PDF
2.59 MB
03/09/2014 2014/884 Report on Trends Risks Vulnerabilities No. 2, 2014 Final Report PDF
2.5 MB
11/01/2013 EBA/BS/2013/002 Report on the administration and management of Euribor Final Report PDF
832.36 KB
02/04/2014 JC/2014/18 Report on risks and vulnerabilities in the EU financial system March 2014 Final Report PDF
1.28 MB
14/12/2015 EBA/Op/2015/20 Report on investment firms Final Report PDF
1.2 MB
08/11/2013 JC-2013-72 Preliminary report on anti-money laundering and counter financing of terrorism Risk Based Supervision Final Report PDF
636.21 KB
31/07/2014 JC/2014/062 Placement of financial instruments with depositors, retail investors and policy holders ('Self placement') Final Report PDF
383.93 KB
Reminder to credit institutions and insurance undertakings about applicable regulatory requirements Executive summary As part of their respective mandates to protect investors, depositors and policy holders, the three European Supervisory Authorities, the EBA, ESMA and EIOPA are concerned about the practices used by some financial institutions to comply with enhanced prudential requirements under the CRD/R IV, the pending BRRD, and Solvency 2, as well as the ongoing EBA stress test and the ECB’s comprehensive assessment. These practices include financial institutions selling to their own client base financial instruments that they themselves have issued and that are eligible to comply with the above requirements. This practice may breach a number of rules governing the conduct of these institutions. However, the ‘loss bearing’ features of many of these products mean that consumers are exposed to significant risks that do not exist for other financial instruments. For example, investors are more likely to be subject to bail-in; and the absence of harmonised structures, trigger points and loss absorption makes it difficult for investors to understand and compare the products. Each product needs to be assessed as a unique offering, which may be particularly challenging for retail investors. The three authorities, within their remits, are reminding financial institutions that capitalisation pressures should not affect their ability to comply with existing and future requirements applicable in the European Union for the provision of services to consumers, including investors, depositors and policy holders. It is expected that due to regulatory and market developments, the risks of consumer detriment described here will further increase; this reminder is aimed at preventing this.

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