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Date Ref. Title Section Type Download Info Summary Related Documents Translated versions
15/07/2002 02-089b CESR’s Advice on possible Level 2 Implementing Measures for the proposed Market Abuse Directive Market Abuse Consultation Paper PDF
213.95 KB
28/10/2004 04-505 Consultation paper- Facilitating the implementation of the Market Abuse Directive Market Abuse Consultation Paper PDF
284.76 KB
02/11/2006 06-562 Consultation paper- Market Abuse Directive, Level 3 – second set of CESR guidance and information on the common operation of the Directive to the market Market Abuse Consultation Paper PDF
110.17 KB
20/05/2008 08-274 Consultation paper- Market Abuse Directive Level 3 – Third set of CESR guidance and information on the common operation of the Directive to the market Market Abuse Consultation Paper PDF
101.96 KB
03/10/2008 08-717 Consultation paper- MAD Level 3 – Third set of CESR guidance and information on the common operation of the Directive to the market Market Abuse Consultation Paper PDF
88.1 KB
15/04/2011 2011/121 Discussion paper- ESMA’s policy orientations on possible implementing measures under Article 3 of the Alternative Investment Fund Managers Directive Fund Management Consultation Paper PDF
186.38 KB
15/06/2011 2011/141 Consultation paper- ESMA’s technical advice on possible delegated acts concerning the Prospectus Directive as amended by the Directive 2010/73/EU Prospectus, Corporate Disclosure Consultation Paper PDF
1.45 MB
13/07/2011 2011/209 Consultation paper- ESMA's draft technical advice to the European Commission on possible implementing measures of the Alternative Investment Fund Managers Directive Fund Management Consultation Paper PDF
2.82 MB
22/07/2011 2011/220 Discussion paper- ESMA’s policy orientations on guidelines for UCITS Exchange-Traded Funds and Structured UCITS Fund Management Consultation Paper PDF
211.79 KB
20/07/2011 2011/224 Consultation paper- Guidelines on systems and controls in a highly automated trading environment for trading platforms, investment firms and competent authorities MiFID - Secondary Markets Consultation Paper PDF
623.6 KB
23/08/2011 2011/270 Consultation paper- ESMA's draft technical advice to the European Commission on possible implementing measures of the Alternative Investment Fund Managers Directive in relation to supervision and third countries Fund Management Consultation Paper PDF
154.97 KB
14/09/2011 2011/288 Call for evidence- Empty voting Corporate Disclosure, Corporate Governance, Transparency Consultation Paper PDF
81.13 KB
26/01/2011 2011/35 Call for evidence- Request for technical advice on possible delegated acts concerning the Prospectus Directive (2003/71/EC) as amended by the Directive 2010/73/EU Prospectus, Corporate Disclosure Consultation Paper PDF
3.85 MB
10/11/2011 2011/373 Consultation paper- Considerations of materiality in financial reporting Corporate Disclosure, IFRS Supervisory Convergence Consultation Paper PDF
170.93 KB
13/12/2011 2011/444 ESMA’s technical advice on possible delegated acts concerning the Prospectus Directive as amended by the Directive 2010/73/EU Prospectus, Corporate Disclosure Consultation Paper PDF
1.15 MB		 The purpose of this consultation document from ESMA is to seek comments on the technical advice that ESMA proposes to give to the European Commission on a number of possible delegated acts.
22/12/2011 2011/445 Consultation paper on guidelines on certain aspects of the MiFID suitability requirements MiFID - Investor Protection Consultation Paper PDF
355.06 KB
22/12/2011 2011/446 Consultation paper on guidelines on certain aspects of the MiFID compliance function requirements MiFID - Investor Protection Consultation Paper PDF
393.94 KB
23/02/2012 2012/117 Discussion paper on Key concepts of the Alternative Investment Fund Managers Directive and types of AIFM Fund Management Consultation Paper PDF
359.52 KB		 This document will be of interest to asset management companies and trade associations of asset management companies managing funds falling in the scope of the Alternative Investment Fund Managers Directive. Responses to this discussion paper will help ESMA in finalising its policy approach. In light of the feedback received, ESMA will develop a consultation paper in Q2 2012 setting out formal proposals for draft regulatory technical standards on Article 4(4) of the AIFMD. The results of that public consultation will be used by ESMA in finalising the draft regulatory technical standards to be submitted to the European Commission for endorsement by the end of 2012. 
22/03/2012 2012/212 Discussion Paper- An Overview of the Proxy Advisory Industry. Considerations on Possible Policy Options Corporate Disclosure, Corporate Governance Consultation Paper PDF
524.85 KB		 This Discussion Paper focuses on the development of the proxy advisory industry in Europe, which mainly serves institutional investors such as asset managers, mutual funds and pension funds. Following its fact-finding work in 2011, ESMA recognises the proxy advisory industry within Europe is, or is expected to be, growing in prominence and investors are, or are expected to be, increasingly using proxy advisor services. In this paper ESMA identifies several key issues related to the proxy advisory market which may have an impact on the proper functioning of the voting process. The range of policy options that ESMA will consider, and on which it seeks further input from market participants, consists of four broad areas, including: 1.    No EU-level action at this stage 2.    Encouraging Member States and/or industry to develop standards 3.    Quasi-binding EU-level regulatory instruments 4.    Binding EU-level legislative instruments ESMA will consider these options based on the feedback it receives from market participants, and, if appropriate, will undertake further policy action, either directly or by providing an opinion to the European Commission. The reason to bring up some policy options is due to the fact that proxy advisors are currently not regulated at a pan-European level. Nevertheless, there are relevant European rules that apply to investors (e.g. for UCITS management companies when exercising voting rights). In addition, there are also well-recognised corporate governance standards that apply to issuers at a national level (based on the “comply or explain approach”) and some complements to improve standards of stewardship among investors. All feedback received from this Discussion Paper will be duly considered. ESMA expects to publish a feedback statement in Q4 of 2012 which will summarise the responses received and will state ESMA’s view on whether there is a need for policy action in this area.
20/06/2012 2012/380 ESMA’s technical advice on possible delegated acts concerning the Prospectus Directive as amended by the Directive 2010/73/EU Prospectus, Corporate Disclosure Consultation Paper PDF
1.49 MB		 Responses to this consultation paper should be submitted online by 20 August 2012.

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