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Date Ref. Title Section Type Download Info Summary Related Documents Translated versions
19/12/2014 2014/1569 Technical Advice to the Commission on MiFID II and MiFIR MiFID - Investor Protection, MiFID - Secondary Markets Technical Advice PDF
2.8 MB		 Reasons for publication The European Securities and Markets Authority (ESMA) received a formal request (mandate) from the European Commission (Commission) on 23 April 2014 to provide technical advice to assist the Commission on the possible content of the delegated acts required by several provisions of Markets in Financial Instruments Directive (MiFID II) and the Markets in Financial Instruments Regulation (MiFIR). The mandate focuses on technical issues which follow from MiFID II and MiFIR and is available on the European Commission website (here). ESMA was required to provide technical advice by no later than six months after the entry into force of MiFID II and MiFIR (2 July 2014). Contents This final report follows the same structure as the Consultation Paper  (CP) published by ESMA on 22 May 2014 which is: (1) Introduction, (2) Investor protection, (3) Transparency, (4) Data publication, (5) Micro-structural issues, (6) Requirements applying on and to trading venues, (7) Commodity derivatives and (8) Portfolio compression. This paper also contains summaries of responses to the CP received by ESMA. The rationale of those items covered already in the CP for which no relevant changes have been introduced, is not developed again in this Final Report. ESMA recommends, therefore, to read this report together with the CP published on 22 May 2014 to have a complete vision of the rationale for ESMA’s technical advice. Next steps Delegated acts should be adopted by the Commission so that they enter into application by 30 months following the entry into force of the Directive and Regulation, taking into account the right of the European Parliament and Council to object to a delegated act within 3 months (which can be extended by a further 3 months).
03/02/2015 2015/224 ESMA’s technical advice on possible delegated acts concerning the Market Abuse Regulation Market Abuse Technical Advice PDF
1021.03 KB		 This advice:•    specifies the MAR market manipulation indicators, by providing examples of practices that may constitute market manipulation as well as proposing “additional” indicators of market manipulation; •    recommends to set the minimum thresholds that exempt certain market participants in the emission allowance market from publicly disclosing inside information at six million tonnes of CO2eq per year and at 2,430 MW rated thermal input;•    suggests the way to determine to which regulator delays in disclosure of inside information needs to be notified.  •    provides clarifications on the enhanced disclosure of managers’ transactions. - ESMA recommends disclosing  any acquisition, disposal, subscription or exchange of financial instruments of the relevant issuer or related financial instruments carried out by managers,, further illustrated through a non-exhaustive list of types of transactions subject to this obligation.  . ESMA also clarifies the transactions that can be allowed by the issuer during a closed period when normally managers are prohibited to trade; and•    proposes procedures and arrangements to ensure sound whistleblowing infrastructures – i.e. EU national regulators should allow the receipt of reports of infringements, including appropriate communication channels and guarantee the protection of reporting and reported persons, with respect to their identity and their personal data. Next steps ESMA has sent its technical advice to the European Commission for its consideration in drafting its implementing standards regarding MAR. ESMA’s regulatory technical standards regarding MAR will be delivered in July 2015.
26/02/2015 2015/496 MiFID II – Switching on the light without turning-off the tap- Verena Ross, Executive Director, ESMA MiFID - Secondary Markets, Speeches Speech PDF
222.55 KB		 Verena Ross, Executive Director of ESMA, delivered the keynote speech at the ABA/Law Society Capital Markets Conference 2015 in London on MiFID II which focused on transparency and liquidity issues.
24/03/2015 2015/620 MIFID/MIFIR- CSD hearing before ECON MiFID - Secondary Markets, Speeches Speech PDF
117.88 KB
02/05/2016 2016/666 Opinion on draft RTS 2 non-equity transparency MiFID - Secondary Markets Opinion PDF
193.79 KB
02/05/2016 2016/666 ANNEX Annex- Opinion on draft RTS 2 non-equity transparency MiFID - Secondary Markets Opinion PDF
633.28 KB
02/05/2016 2016/668 Opinion on draft RTS 21 position limits MiFID - Secondary Markets Opinion PDF
152.8 KB
02/05/2016 2016/668 ANNEX Annex- Opinion on draft RTS 21 position limits MiFID - Secondary Markets Opinion PDF
124.02 KB
26/05/2016 2016/734 Key note speech for the City week 2016 – Verena Ross, 9 May, London Speeches, MiFID - Secondary Markets Speech PDF
180.15 KB
30/05/2016 2016/730 Opinion on draft RTS 20 on ancillary activity MiFID - Secondary Markets Opinion PDF
148.29 KB
30/05/2016 2016/730 ANNEX Annex- Opinion on draft RTS 20 on ancillary activity MiFID - Secondary Markets Opinion PDF
220.42 KB
13/06/2016 2016/945 Speech for the DSGV Kapitalmarktsymposium- Verena Ross, 10 June 2016, Berlin MiFID - Secondary Markets Speech PDF
275.69 KB
17/06/2016 2016/982 Opinion on inside information disclosure under the Market Abuse Regulation Market Abuse Opinion PDF
278.89 KB
22/06/2016 2016/989 Speech ISLA's 25th Anniversary Conference- Steven Maijoor, 22 June 2016, Vienna Securities Financing Transactions, Speeches Speech PDF
242.25 KB
30/09/2016 2016/1421 MiFID II: Status Quo und weitere Entwicklung MiFID - Secondary Markets, Speeches Speech PDF
209.64 KB
23/01/2017 ESMA71-844457584-329 ESMA Chair keynote address at PRIME Finance Conference Benchmarks, Post Trading, Speeches Speech PDF
281.45 KB
25/04/2017 ESMA70-145-76 Points for convergence in relation to MAR accepted market practices on liquidity contracts Market Abuse, Market Integrity Opinion PDF
166.37 KB
22/05/2017 ESMA70-156-117 Opinion on traded on a trading venue under MiFID II MiFID - Secondary Markets Opinion PDF
155.64 KB
30/05/2017 ESMA70-145-103 Communication on launch of reference data submission under MAR Market Abuse, Market Integrity Opinion PDF
132.12 KB
13/07/2017 ESMA70-154-270 Opinion to support supervisory convergence in the area of secondary markets in the context of the United Kingdom withdrawing from the European Union Brexit, MiFID - Secondary Markets, Supervisory convergence Opinion PDF
181.69 KB

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