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Date Ref. Title Section Type Download Info Summary Related Documents Translated versions
11/03/2020 ESMA70-156-1434 Compliance table for Guidelines on non-significant benchmarks (ESMA70-145-1209) , Compliance table PDF
127.63 KB
11/11/2019 ESMA70-151-2650 Final report on TA on EMIR_2_2_CCP fees Technical Advice PDF
606.91 KB
11/11/2019 ESMA70-151-2682 Final Technical advice on Tiering Criteria under EMIR 2.2 Technical Advice PDF
544.57 KB
11/11/2019 ESMA70-151-2649 Technical advice on comparable compliance Technical Advice PDF
790.06 KB
18/07/2019 ESMA33-9-321 Technical Advice on Sustainability Considerations in the Credit Rating Market Technical Advice PDF
451.01 KB
10/04/2019 JC 2019 26 Joint ESA advice on the need for legislative improvements relating to ICT risk management requirements , Technical Advice PDF
1.34 MB
10/04/2019 JC 2019 25 Joint ESA advice on the costs and benefits of developing a coherent cyber resilience testing framework for significant market participants and infrastructures , Technical Advice PDF
785.49 KB
23/10/2018 ESMA70-151-727 Compliance table for the Guidelines on CSD Access to the trading feeds of CCPs and trading venues (ESMA70-151-298) Compliance table PDF
315.6 KB
23/10/2018 ESMA70-151-732 Compliance table for the Guidelines on participant default rules and procedures under Regulation (EU) No 909/2014 (ESMA70-151-294) Compliance table PDF
304.43 KB
23/10/2018 ESMA70-151-1417 Compliance table for ESMA's Guidelines on the cooperation between authorities under Articles 17 and 23 of CSDR (ESMA70-151-435) Compliance table PDF
302.31 KB
16/02/2016 2016/275 Comply or explain table for G&R on PFMIs , Compliance table PDF
121.97 KB
16/02/2016 2016/274 Comply or explain table for G&R on IO arrangements , Compliance table PDF
121.43 KB
16/02/2016 2016/273 Comply or explain table for G&R on CCP college , Compliance table PDF
129.84 KB
02/10/2015 2015/1472 Technical Advice on Competition, Choice and Conflicts of Interest in the CRA industry Technical Advice PDF
2.48 MB
02/10/2015 2015/1471 Technical Advice on Reducing Sole and Mechanistic Reliance on Credit Ratings Technical Advice PDF
1.1 MB
05/08/2015 2015/1219 Final Report- Technical Advice under the CSD Regulation Technical Advice PDF
751.38 KB
17/09/2014 2014/850rev Technical Advice in accordance with Article 39(b) 2 of the CRA Regulation Technical Advice PDF
370.42 KB
This document has been revised to reflect an amended figure in Table 1 and two re-classifications of solicitation status in Table 2. Article 39b(2) of the CRA Regulation states that the European Commission shall adopt a report by end 2014 – after receiving ESMA’s technical advice – on the appropriateness of the development of a European creditworthiness assessment for sovereign debt. In its request for advice, the Commission asked ESMA to provide input on the issue of sovereign ratings and rating processes including an overview of the market for sovereign ratings, information on operational issues regarding sovereign ratings, information on sovereign rating processes as well as lessons drawn from ESMA’s supervisory experience. Contents For the purposes of this advice, ESMA provides its views based on the quantitative information contained in the CEREP public database and on information publicly disclosed by credit rating agencies registered with ESMA. Additionally, ESMA’s advice has been informed by its first supervisory activities regarding the rating process for sovereign ratings of CRAs which are active in the EU sovereign rating market. In accordance with the CRA Regulation, these supervisory activities did not address the content of the sovereign methodologies themselves but rather were concerned with the independence, transparency and governance of the sovereign rating process. Sovereign credit ratings play a crucial role from a credit market and financial stability perspective, not least because sovereign governments account for the largest group of borrowers in capital markets in terms of volume. In addition the crucial importance of these sovereign ratings can be amplified by the “cascade” effect sovereign ratings have on other asset classes via their presence as factors in other asset methodologies. In the EU the sovereign rating market is composed of nine CRAs established in nine different EU member states. These nine CRAs exhibit a high level of variation with respect to the type and number of sovereign ratings they assign. Sovereign credit ratings themselves can also be differentiated in various ways depending on such factors as local/foreign currency, duration of issuance, whether the rating applies to a specific issuer or issuance and if it is solicited or unsolicited. In addition ESMA would like to emphasise the following points which it believes to be important when considering the appropriateness of the development of a European creditworthiness assessment of sovereign debt.
30/01/2014 2014/123 ESMA Technical advice on equivalence of Japan for CCP II- Commodities CCPs Technical Advice PDF
3.33 MB

ESMA delivers second set of advice on EMIR equivalence Following its technical advice published on 9 September 2013, the European Securities and Market Authority (ESMA) has published a supplement to its advice to the European Commission on the equivalence of the regulatory regime for central counterparties (CCPs) of Japan with the European Markets Infrastructure Regulation (EMIR). This supplement to the September 2013 Final report sets out ESMA’s advice to the European Commission is in respect of the equivalence between the Japanese regulatory regime for commodity CCPs and the regulatory regime for CCPs under EMIR. ESMA proposes conditional equivalence As for ESMA’s advice to the Commission in respect of Japan for CCPs which clear transactions relating to securities, currencies, interest rates, credit, weather, GDP and other indices, ESMA considers that the Japanese regulatory regime for commodity CCPs contains legal provisions and involves supervision and enforcement similar to that of EMIR. The Commission is expected to use ESMA’s technical advice to prepare possible equivalence decisions. Where it adopts such a decision, certain provisions of EMIR may be disapplied in favour of equivalent third-country rules. In particular, ESMA may recognise within the EU a CCP which is authorised outside the EU. The different pieces of advice are available on ESMA’s website.

24/01/2014 2013/1965 Technical Advice to the Commission on procedural rules to impose fines and periodic penalty payments to Trade Repositories Technical Advice PDF
385.87 KB

Reasons for publication On 29 of April 2013 ESMA received a formal request from the European Commission (the Commission) to provide technical advice to assist the Commission in formulating procedural rules to impose fines and periodic penalty payments to trade repositories (TRs) by delegated act. In order to deliver its advice to the Commission, ESMA consulted market participants regarding the procedural rules to impose fines and periodic penalty payments to TRs. Respondents to the consultation were encouraged to provide the relevant information in support of their arguments or proposals. ESMA published the consultation on 18 October 2013. The market participants could provide their comments until 15 November 2013. In total ESMA received two responses to the consultation. The respondents have required confidential treatment for their input. ESMA would like to thank respondents for providing input. Contents This document sets out a summary of the responses received by ESMA regarding the procedural rules to impose fines and periodic penalty payments to TRs and includes ESMA’s final technical advice to the Commission on the future Regulation on the procedural rules to impose fines and periodic penalty payments to TRs which will be adopted by the Commission in the form of a delegated act. It is worth noting that all major ESMA proposals were supported by respondents and where comments were received ESMA has considered them carefully. Next steps ESMA will follow-up on this work with the Commission towards the adoption of the Commission delegated regulation on procedural rules to impose fines and periodic penalty payments to TRs.

19/12/2013 2013/1953 Technical Advice to the European Commission on the equivalence between the Argentinean regulatory and supervisory framework and the EU regulatory regime for CRAs Technical Advice PDF
143.15 KB