REFINE YOUR SEARCH
Type of document
|Date||Ref.||Title||Section||Type||Download||Info||Summary||Related Documents||Translated versions|
|07/04/2021||JC 2021 08||Joint Committee Annual Report 2020||Joint Committee||Annual Report||PDF
|26/03/2021||JC 2021 16||ESAs’ Opinion to the European Commission on the Jurisdictional Scope of Application of the SECR||Joint Committee, Securitisation||Opinion||PDF
|25/02/2021||JC 2021 06||Joint ESAs supervisory statement- SFDR||Joint Committee, Sustainable finance||Statement||PDF
|07/12/2020||JC 2020 86||ESAs highlight the change in the status of Simple, Transparent and Standardised (STS) securitisation transactions at the end of the UK transition period||Brexit, Joint Committee||Statement||PDF
|12/10/2020||ESMA22-105-1248||Steven Maijoor Opening Statement for ECON Hearing 12 October 2020||Board of Supervisors, Brexit, Corporate Information, COVID-19, Joint Committee, Speeches||Statement||PDF
|30/09/2020||ESMA31-62-1491||Public statement QA update Prospectus||Prospectus||Statement||PDF
|04/05/2020||ESMA71-99-1324||Statement on bilateral margin RTS amendments in response to Covid-19||COVID-19, Joint Committee, Post Trading, Press Releases||Statement||PDF
|09/03/2020||ESMA80-199-332||ESMA Supervision- Annual Report 2019 and Work Programme 2020||Benchmarks, Credit Rating Agencies, Securities Financing Transactions, Securitisation, Trade Repositories||Annual Report||PDF
|05/12/2019||JC 2019 19||The introduction of fallbacks in OTC derivative contracts and the requirement to exchange collateral||Joint Committee, Post Trading||Statement||PDF
|24/10/2019||JC-2019-64||Joint ESA Supervisory Statement – application of scope of the PRIIPs Regulation to bonds||Fund Management, Joint Committee||Statement||PDF
|09/04/2019||2019 19||Joint Committee Annual Report 2018||Joint Committee||Annual Report||PDF
|31/01/2019||ESMA33-128-600||ESMA Opinion on securitisation RTS||Securitisation||Opinion||PDF
|11/01/2019||ESMA33-128-577||Statement on Securitisation implementation||Securitisation||Statement||PDF
|05/09/2018||ESMA70-151-1651||On the European Commission’s proposed amendments to SFTR||Securitisation||Opinion||PDF
|23/05/2018||ESMA71-99-979||ESMA appoints new chair to its Committee of Economic and Markets’ Analysis||Innovation and Products, Risk Analysis & Economics - Markets Infrastructure Investors||Statement||PDF
|27/04/2018||ESMA22-103-753||Multilateral MoU on cooperation, information exchange and consultation||International cooperation, Joint Committee||Statement||PDF
|13/11/2017||ESMA50-157-828||ESMA alerts firms involved in Initial Coin Offerings (ICOs) to the need to meet relevant regulatory requirements||Innovation and Products, Warnings and publications for investors||Statement||PDF
|13/11/2017||ESMA50-157-829||ESMA alerts investors to the high risks of Initial Coin Offerings (ICOs)||Innovation and Products, Warnings and publications for investors||Statement||PDF
|29/09/2017||ESMA71-99-602||ESMA appoints new chairs to Standing Committees||Board of Supervisors, Corporate Disclosure, Corporate Finance, Corporate Information, Innovation and Products, Market Integrity, MiFID - Secondary Markets, Post Trading||Statement||PDF
|28/06/2017||ESMA35-36-885||Product Intervention- General Statement||Innovation and Products, MiFID - Investor Protection||Statement||PDF
This statement provides an update on the European Securities and Markets Authority’s (ESMA) work in relation to the sale of contracts for differences (CFDs), binary options and other speculative products to retail investors.
ESMA has been concerned about the provision of speculative products such as CFDs, rolling spot forex and binary options to retail investors for a considerable period of time and has conducted ongoing monitoring and supervisory convergence work in this area. In this context, ESMA has previously published a number of Q&As on CFDs and other speculative products to foster supervisory convergence, having established a CFD Task Force in July 2015, and also issued a further investor warning on the sale of CFDs, binary options and other speculative products in July 2016.
However, ESMA remains concerned that these supervisory convergence tools may not be sufficiently effective to ensure that the risks to consumer protection are sufficiently controlled or reduced. ESMA is therefore discussing the possible use of its product intervention powers under Article 40 of MiFIR to address investor protection risks in relation to CFDs, rolling spot forex and binary options.
ESMA is in the process of discussing the possible use of its product intervention powers under Article 40 of MiFIR, the possible content of any such measures, and how they could be applied. However, ESMA can confirm that the measures being discussed for (i) CFDs and rolling spot forex and (ii) binary options include proposals that take into account a number of measures that have been adopted or publicly consulted on by EU National Competent Authorities. These measures include leverage limits, guaranteed limits on client losses, and / or restrictions on the marketing and distribution of these products.
In accordance with Article 40 of MiFIR, any intervention measures must be approved by the ESMA Board of Supervisors and can only come into effect from 3 January 2018 at the earliest.
 ESMA/2016/1166 Warning about CFDs, binary options and other speculative products published 25 July 2016