ESMA LIBRARY
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Date | Ref. | Title | Section | Type | Download | Info | Summary | Related Documents | Translated versions |
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03/01/2013 | 2012/875 | Report to the European Parliament, the Council and the Commission on the budgetary impli-cations of Regulation (EU) No 236/2012 on short selling and certain aspects of credit default swaps | Short Selling | Final Report | PDF 532.88 KB |
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30/01/2013 | 2013/159 | Q&A on Implementation of the Regulation on short selling and certain aspects of credit default swaps (2nd update) | Short Selling | Q&A | PDF 873.32 KB |
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01/02/2013 | 2013/158 | Guidelines on the exemption for market making activities and primary market operations under Regulation (EU) 236/2012 of the European Parliament and the Council on short selling and certain aspects of Credit Default Swaps | Short Selling | Final Report | PDF 501.8 KB |
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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. | |||
21/05/2015 | 2015/856 Ann1 | Investment-based crowdfunding- Insights from regulators in the EU | Innovation and Products | Final Report | PDF 319.65 KB |
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01/07/2015 | 2015/1005 | Questions and Answers: Investment-based crowdfunding: money laundering/terrorist financing | Innovation and Products | Q&A | PDF 157.73 KB |
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21/12/2016 | 2016/1668 | 2016-1668 ESMA feedback statement on ESEF | Corporate Disclosure, European Single Electronic Format, Transparency | Report | PDF 6.98 MB |
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07/06/2017 | ESMA50-158-457 | ESMA response to the Commission Consultation Paper on Fintech: A more competitive and innovative financial sector | Innovation and Products | Report | PDF 712.26 KB |
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05/03/2018 | ESMA70-145-386 | Technical Advice on the evaluation of certain elements of the Short Selling Regulation | Short Selling | Final Report | PDF 1.72 MB |
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15/03/2018 | JC-2018-04 | Joint Committee Final Report on Big Data | Innovation and Products | Final Report | PDF 520.31 KB |
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29/05/2018 | ESMA70-145-408 | Question and Answers (Q&A) on the Regulation on short selling and certain aspects of credit default swaps (SSR) | Short Selling | Q&A | PDF 536.17 KB |
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07/01/2019 | JC 2018 74 | Joint ESA report on Regulatory sandboxes and innovation hubs | Innovation and Products, Joint Committee | Report | PDF 478.79 KB |
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09/01/2019 | ESMA50-157-1391 | Advice on Initial Coin Offerings and Crypto-Assets | Innovation and Products | Report | PDF 882.48 KB |
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12/07/2019 | ESMA50-164-2430 | Report on the Licensing of FinTech business models | Innovation and Products | Report | PDF 585.36 KB |
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04/02/2020 | ESMA32-67-613 | Report on amendments to ESMA Guidelines on enforcement of financial information | Transparency | Final Report | PDF 272.06 KB |
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06/04/2020 | ESMA 50-165-1098 | ESMA annual statistical report on performance and costs of retail investment products in the EU- 2020 | Fund Management, Innovation and Products, MiFID - Investor Protection | Report | PDF 4.08 MB |
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29/06/2020 | ESMA50-164-3463 | ESMA’s response to the European Commission’s Consultation on a New Digital Finance Strategy for Europe | Innovation and Products | Report | PDF 380.54 KB |
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29/09/2020 | ESMA WP-2020-3 | ESMA working paper on DVC mechanism and impact on EU equity markets | Innovation and Products, Risk Analysis & Economics - Markets Infrastructure Investors | Report | PDF 535.76 KB |
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09/11/2020 | ESMA31-67-127 | Question and answers on Transparency Directive (TD) | Brexit, Corporate Disclosure, Corporate Finance, Supervisory convergence, Transparency | Q&A | PDF 352.79 KB |
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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 |