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|Date||Ref.||Title||Section||Type||Download||Info||Summary||Related Documents||Translated versions|
|14/02/2020||ESMA22-106-2062||Procedure- ESMA Stakeholder Group Renewal Procedure 2020||Securities and Markets Stakeholder Group||Reference||PDF
|14/02/2020||SMSG 2020||SMSG application form 2020||Securities and Markets Stakeholder Group||Reference||DOCX
|14/02/2020||ESMA22-106-2097||Call for expression of interest to the ESMA Securities and Markets Stakeholder Group (SMSG)||Securities and Markets Stakeholder Group||Reference||PDF
|05/04/2019||ESMA22-106-1736||SMSG Application Form 2019||Board of Supervisors, Securities and Markets Stakeholder Group||Reference||DOCX
|05/04/2019||ESMA22-106-1733||Call for expression of interest- consumers, employee reps, SMEs April 2019||Board of Supervisors, Securities and Markets Stakeholder Group||Reference||PDF
|07/02/2019||ESMA50-157-1588||ESMA Risk Assessment Work Programme 2019||Innovation and Products, Planning reporting budget, Risk Analysis & Economics - Markets Infrastructure Investors||Reference||PDF
|09/01/2019||ESMA50-157-1384||Annex- Legal qualification of crypto-assets – survey to NCAs||Innovation and Products||Reference||PDF
|04/12/2018||ESMA50-157-1377||Call for expressions of interest: Consultative Working Group for ESMA’s Financial Innovation Standing Committee||Innovation and Products||Reference||PDF
|04/12/2018||ESMA50-157-1377 Application form||FISC CWG Application Form||Innovation and Products||Reference||DOCX
|05/07/2018||ESMA22-106-1050||Call for expression of interest regarding positions in the ESMA Securities and Markets Stakeholder Group||Securities and Markets Stakeholder Group||Reference||PDF
|05/07/2018||ESMA22-106-1052||ESMA Stakeholder Group Renewal Procedure 2018||Securities and Markets Stakeholder Group||Reference||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
|15/03/2018||15-03-2018||Big Data Factsheet||Innovation and Products||Reference||PDF
|01/12/2017||ESMA22-106-484||2018 SMSG application form||Board of Supervisors, Securities and Markets Stakeholder Group||Reference||DOCX
|01/12/2017||ESMA22-106-483||SMSG Expresssion of interest 30 November 2017||Board of Supervisors, Securities and Markets Stakeholder Group||Reference||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
|16/10/2017||ESMA22-106-135||Call for expression of interest- Academics and Financial Markets Participants||Board of Supervisors, Securities and Markets Stakeholder Group||Reference||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