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|Date||Ref.||Title||Section||Type||Download||Info||Summary||Related Documents||Translated versions|
|12/07/2013||2013/925||The Clearing Obligation under EMIR||Post Trading||Consultation Paper||PDF
The European Securities and Markets Authority (ESMA) is publishing this discussion paper in order to seek stakeholders’ views on the preparation of the regulatory technical standards ESMA is required to draft under Article 5(2) “Clearing Obligation Procedure” of the Regulation (EU) No 648/2012 of the European Parliament and Council on OTC derivatives, central counterparties and trade repositories (EMIR). The input from stakeholders will help ESMA in the development of the relevant technical standards to be drafted and submitted to the European Commission for endorsement in the form of Commission Regulations, i.e. a legally binding instrument directly applicable in all Member States of the European Union. One essential element in the development of draft technical standards is the analysis of the costs and benefits that those legal provisions will imply. Input in this respect and any supportive data will be highly appreciated and kept confidential where required. Please respond to the consultation using the response template. The closing date for responses is 12 September 2013.
|23/06/2015||JC/DC/2015/01||Technical Discussion Paper (DP) on the PRIIPs Key Information Document (KID)||Fund Management, Joint Committee||Consultation Paper||PDF
|EBA, EIOPA, and ESMA (the ESAs) welcome comments on this Technical Discussion Paper on Risk, Performance Scenarios and Cost Disclosures in Key Information Documents for Packaged Retail and Insurance-based Investment Products (PRIIPs). The discussion paper is available on the websites of the three ESAs. Comments on this discussion paper can be sent using the response form, via the ESMA website under the heading ‘Your input/Consultations’ by 17 August 2015. Contributions not received in Word, or sent to an email address, or after the deadline, will not be processed. It is important to note that although you may not be able to respond to each and every question, the ESAs would encourage partial responses from stakeholders on those questions that they believe are most relevant to them. Publication of responses All contributions received will be published following the close of the consultation, unless you request otherwise. A standard confidentiality statement in an email message will not be treated as a request for non-disclosure. A confidential response may be requested from us in accordance with the ESAs’ rules on public access to documents. We may consult you if we receive such a request. Any decision we make not to disclose the response is reviewable by the Board of Appeal of the ESAs and the European Ombudsman. Data protection Information on data protection can be found on the different ESAs’ websites under the heading ‘Legal notice’.|
|19/12/2016||2016/1672||Technical advice to the Commission on fees for TRs under SFTR and on certain amendments of for fees under EMIR||Post Trading||Consultation Paper||PDF
Reasons for publication
On 15 January 2016 the European Securities and Markets Authority (ESMA) received a formal request from the European Commission (Commission) to provide technical advice to assist the Commission in formulating a Regulation on fees for Trade Repositories (TRs) under SFTR by a delegated act.
The present report contains nine sections. Section 1 refers to the Executive Summary of the report. Section 2 explains the background to our proposals. Section 3 outlines the ESMA’s expected costs. Section 4 establishes the general approach for the determination of fees under EMIR and SFTR. Section 5 explains how ESMA will manage surpluses and deficits under EMIR and SFTR. Section 6 points out the rationale and computation of TRs fees for registration and extension of registration under SFTR. Sections 7 and 8 present the supervision fees under EMIR and SFTR and recognition fees under SFTR. Section 9 refers to the conditions of payment and reimbursement and, finally, Section 10 addresses the instances where delegation to NCAs takes place. Annex I contains the summary of the questions posed by ESMA and Annex II includes the Commission’s mandate to ESMA.
The amendments to fees under EMIR that are consulted in this document are required in order to ensure level –playing field with the ESMA’s fees to TRs under SFTR.
ESMA will consider the feedback it receives to this consultation in Q1 2017 and expects to publish and submit a final report of the technical advice to the European Commission for endorsement by end of Q1/beginning of Q2 of 2017.
|14/12/2015||2015/1867||Review of Article 26 of RTS No 153/2013 with respect to MPOR for client accounts||Post Trading||Consultation Paper||PDF
|25/10/2012||JC/CP/2012/02 Responses||Responses to the second Joint CP on Financial Conglomerates||Joint Committee||Consultation Paper||ZIP
|24/10/2012||JC/CP/2012/01 Responses||Responses to the Joint CP on Financial Conglomerates||Joint Committee||Consultation Paper||PDF
|23/06/2015||JC/DP/2015/01 reply form||Response form to joint Discussion Paper on PRIIPS||Fund Management, Joint Committee||Consultation Paper||DOCX
|14/12/2015||2015/1867R||Response Form to CP on review of Article 26 of RTS 153-2013||Post Trading||Consultation Paper||DOCX
|05/11/2015||2015/1628/R||Response form to CP on indirect clearing||Post Trading||Consultation Paper||DOCX
|18/12/2020||ESMA-70-156-2368||MiFID II Consultation Paper on Algorithmic Trading||MiFID - Secondary Markets, Trading||Consultation Paper||PDF
|28/10/2016||2016/1529||Joint ESMA and EBA Guidelines on the assessment of the suitability of members of the management body and key function holders||Guidelines and Technical standards, MiFID - Investor Protection||Consultation Paper||PDF
|23/04/2020||JC 2020 16||Joint ESA consultation on ESG disclosures||Joint Committee, Sustainable finance||Consultation Paper||PDF
|06/03/2012||JC/DP/2012/1||Joint Discussion Paper on Draft Regulatory Technical Standards on risk mitigation techniques for OTC derivatives not cleared by a CCP under the Regulation on OTC derivatives, CCPs and Trade Repositories||Joint Committee||Consultation Paper||PDF
|EBA, EIOPA and ESMA (the ESAs) invite market participants and all interested stakeholders to provide their feedback on planned regulatory technical standards covering risk mitigation techniques for OTC derivatives not cleared by central counterparties. The EMIR Regulation (“the Regulation”) on OTC Derivatives, CCPs and trade repositories introduces provisions to improve transparency and reduce the risks associated with the OTC derivatives market and establishes common rules for central counterparties (CCPs) and for trade repositories (TRs). The Regulation acknowledges that not all OTC derivatives would meet the necessary requirements to be centrally cleared. For this reason, it introduces provisions on risk mitigation techniques for OTC derivatives not cleared by a CCP.|
|07/11/2013||JC CP 2013 02||Joint Consultation Paper On Mechanistic references to credit ratings in the ESAs’ guidelines and recommendations||Joint Committee||Consultation Paper||PDF
|The Joint Committee of the European Supervisory Authorities (EBA, ESMA and EIOPA - ESAs) is launching today a one-month public consultation on the removal of mechanistic references to credit ratings in their guidelines and on the definition of sole and mechanistic reliance on such ratings. The term “sole and mechanistic reliance on credit ratings” is mentioned in Article 5b(1) of the European Regulation on Credit Rating Agencies (Regulation (EU) No 462/2013). However, neither its formal definition nor explanations of its meaning are included in the document. In order to have a common approach towards this issue, the ESAs have developed a definition of “sole and mechanistic reliance”, and are consulting with market participants on whether this definition is clear and can be used in practice. The consultation paper contains: - a proposed definition for “sole or mechanistic reliance”, including examples; - the provisions in the three ESAs’ guidelines that are not to be defined as mechanistic; and - those provisions that are to be considered as mechanistic and therefore should be amended. The ESAs intend to refer to this definition in all their future guidelines, recommendations and draft technical standards where relevant. The current public consultation also contributes to the initiative of the Financial Stability Board to reduce the reliance on ratings. The consultation paper is available on the websites of the three ESAs: EBA, ESMA and EIOPA. The consultation will end at close of business on 5 December. Responses can be made here.|
|31/08/2012||JC/CP/2012/02||Joint consultation paper on Draft Regulatory Technical Standards on the uniform conditions of application of the calculation methods under Article 6.2 of the Financial Conglomerates Directive||Joint Committee||Consultation Paper||PDF
|Please send your comments to the EBA, EIOPA and ESMA by email to firstname.lastname@example.org, email@example.com and firstname.lastname@example.org by 05.10.2012, indicating the reference ‘JC CP 2012 02’ in the subject field. Please note that comments submitted after the deadline, or sent to another e-mail address will not be processed.|
|21/10/2015||JC/2015/060||Joint Consultation on Guidelines on AML_CFT RBS_Art 48(10)||Joint Committee||Consultation Paper||PDF
|19/12/2016||JC/2016/86||Joint Committee Discussion Paper on the Use of Big Data by Financial Institutions||Joint Committee||Consultation Paper||PDF
|22/12/2014||JC/CP/2014/05||Joint Committee Consultation Paper on guidelines for cross-selling practices||Joint Committee||Consultation Paper||PDF
|The Joint Committee of the three European Supervisory Authorities (EBA, EIOPA and ESMA) published today a consultation paper on draft Guidelines for regulating cross-selling practices in the financial sector across the EU. These guidelines establish a coherent and effective approach in supervising firms that offer cross-selling options, so as to enhancing protection of EU customers. The consultation will run until XX March 2015. The draft Guidelines are aimed at EU competent authorities and develop further how EU firms engaging in cross-selling practices in the financial sector should comply with the general conduct of business standards expected toward customers. In particular, the Guidelines provide an approach for supervising firms valid across the EU and give more scope for EU customers to take better informed purchasing decisions. While cross-selling financial products can benefit customers by reducing the cost of purchase, cross-selling can also result in customers purchasing products that they do not necessarily want or may be unsuitable for their needs or will bind consumers in a long-term contractual agreement. In order to address these risks, the Joint Committee of the three European Supervisory Authorities developed requirements for enhanced disclosure and transparency around prices, costs and other non-price features, such as how the risks change as a result of buying products as a package. The Guidelines also require that all relevant information is communicated in a timely and exhaustive manner, hence improving customer understanding of the purchase and the suitability/appropriateness of the cross-sold package. The proposed Guidelines of the Joint Committee are developed under Article 16 of the Founding Regulations of the three ESAs. The Joint Committee expects to publish the final guidelines in Q2 2015. Consultation process The consultation paper is available on the websites of the three ESAs: EBA, ESMA and EIOPA. Comments to this consultation paper can be sent here.|
|25/08/2021||Joint Committee||JC 2014 Joint Committee Consultation Paper on guidelines for cross-selling practices||Joint Committee||Consultation Paper||PDF
|23/12/2015||2015/1909||Guidelines on Transaction Reporting Reference Data Order Record Keeping and Clock Synchronisation||MiFID - Secondary Markets||Consultation Paper||PDF
The European Securities and Markets Authority's (ESMA) consultation paper seeks stakeholders’ views on the draft guidance on the application of the provisions of the ESMA RTS on transaction reporting, instrument reference data, order record keeping and clock synchronisation (RTS 22, 23, 24 and 25). This guidance complements the technical standards and will be essential for the consistent implementation of the new MiFIR rules.
Section 1 specifies individual scenarios applicable to a given transaction reporting activity. Each of the scenarios is accompanied with the precise technical formats and schema to be used to represent the specific reportable values. Section 2 specifies scenarios applicable to specific order record keeping activities. In addition to the reporting and record keeping scenarios, these sections also provide a number of other clarifications on the application of the requirements under the new technical standards which were requested by the market participants during the consultations on the MiFID II technical standards but could not be addressed in the final technical standards due to the level of detail and specificity of such requests. Section 3 provides clarifications on the application of the clock synchronisation requirements.
ESMA will consider the feedback it received to this consultation in Q2 2016 and expects to publish in the second half of 2016.