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Date Ref. Title Section Type Download Info Summary Related Documents Translated versions
18/12/2014 2014/1560 Advice- Investment-based crowdfunding Innovation and Products 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.
28/09/2015 2015-ESMA-1464 Annex II Annex II- CBA- draft RTS and ITS on MiFID II and MiFIR MiFID - Secondary Markets Final Report PDF
5.07 MB
08/01/2021 ESMA70-156-177 Compliance table for the Guidelines on the calibration of circuit breakers and publication of trading halts under MiFID II (ESMA70-872942901-63) MiFID - Secondary Markets Compliance table PDF
129.28 KB
21/03/2019 ESMA70-145-1345 Compliance table for the Guidelines on transaction reporting, order record keeping and clock synchronization under MiFID II Guidelines and Technical standards, MiFID - Secondary Markets Compliance table PDF
131.72 KB
20/09/2018 ESMA70-156-350 Compliance table- Guidelines on the management body of market operators and DRSPs under MiFID II Guidelines and Technical standards, MiFID - Secondary Markets Compliance table PDF
308.27 KB
03/09/2019 ESMA70-156-1411 Confirmation of compliance with Guidelines on the application of C6 and C7 of Annex 1 of MIFID II- COMPLIANCE TABLE MiFID - Secondary Markets Compliance table PDF
103.79 KB
07/06/2019 ESMA32-60-474 Draft RTS amending Delegated Regulation (EU) 2018/815 on the updates of the taxonomy to be used for the ESEF Corporate Disclosure, European Single Electronic Format Final Report PDF
6.5 MB
26/05/2016 2016/725 Draft RTS on indirect clearing arrangements under EMIR and MiFIR Guidelines and Technical standards, Post Trading, MiFID - Secondary Markets Final Report PDF
740.71 KB
26/03/2018 ESMA70-156-354 Final Report Amendments to Commission Delegated Regulation (EU) 2017/587 (RTS 1) MiFID - Secondary Markets Final Report PDF
434.94 KB
18/06/2020 ESMA32-60-607 Final report on draft RTS including 2020 update RTS on ESEF European Single Electronic Format Final Report PDF
6.21 MB
18/12/2020 ESMA50-157-2403 Final report on Guidelines on outsourcing to cloud service providers Innovation and Products Final Report PDF
384.63 KB
06/04/2017 ESMA70-872942901-17 Final report on Guidelines on the calibration of circuit breakers and the publication and reporting of trading halts under MiFID II MiFID - Secondary Markets Final Report PDF
887.97 KB
04/05/2016 2016/653 Final Report on RTS on reporting obligations under Article 26 of MiFIR MiFID - Secondary Markets Final Report PDF
231.35 KB
04/04/2016 2016/461 Final report on temporary exemption for ETDs under MiFID II MiFID - Secondary Markets Final Report PDF
619.46 KB
14/12/2018 ESMA70-156-834 Final report on the proposed amendments to RTS 11 MiFID - Secondary Markets Final Report PDF
445.64 KB
18/12/2017 ESMA32-60-204 Final report on the RTS on the European Single Electronic Format European Single Electronic Format Final Report PDF
6.37 MB
11/12/2015 2015/1858 Final Report- Draft ITS under MiFID II MiFID - Secondary Markets Final Report PDF
972.8 KB
10/10/2016 2016/1451 Final Report- Guidelines on transaction reporting, order record keeping and clock synchronisation under MiFID II Guidelines and Technical standards, MiFID - Secondary Markets Final Report PDF
388.3 KB
11/06/2019 ESMA70-156-1035 Final report_Call for evidence Periodic Auctions MiFID - Secondary Markets Final Report PDF
798 KB
18/12/2015 2015/1887 Follow-up report on the development of the Best Practice Principles for Providers of Shareholder Voting Research and Analysis Corporate Finance, Corporate Governance Final Report PDF
645.64 KB

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