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Date Ref. Title Section Type Download Info Summary Related Documents Translated versions
14/04/2021 ESMA71-99-1637 Retail clients continue to lose out due to high investment products costs , Press Release PDF
105.12 KB
11/01/2013 2013/12 Principles for Benchmarks-Setting Processes in the EU Consultation Paper PDF
259.33 KB
31/03/2015 2015/662 Press release: ESMA sees improved transparency of issuers financial statements – more information needed on forbearance practices and impairment tests , , Press Release PDF
140.76 KB
06/09/2018 ESMA71-99-1027 Press release- Volatility spikes underline fragilities and risks to EU securities markets and investors , Press Release PDF
237.66 KB
21/10/2011 2011/354 Press release- European enforcers see good level of IFRS application in 2010 , Press Release PDF
31.97 KB
28/10/2014 2014/1310 Press Release- ESMA sets enforcement priorities for listed companies’ financial statements , Press Release PDF
141.27 KB

The European Securities and Markets Authority (ESMA) has published its Public Statement on European Common Enforcement Priorities (Priorities) for 2014. These Priorities identify topics which ESMA, together with European national enforcers, see as a key focus of their examinations of listed companies’ financial statements.The common enforcement priorities encompass the following topics: Preparation and presentation of consolidated financial statements and related disclosures; Financial reporting by entities which have joint arrangements and related disclosures; and Recognition and measurement of deferred tax assets. These topics are important, as they either introduce significant changes to accounting practices following the implementation of new standards, or because the current economic environment poses particular challenges to issuers in the application of certain IFRS requirements, notably when forecasting future taxable profits in periods of low economic growth.Steven Maijoor, ESMA Chair, said: “The aim of the common enforcement priorities is to achieve a high level of harmonisation in enforcement and to contribute to consistency in the application of IFRS across the EU. “In view of the impact of new standards on financial information, ESMA believes that listed companies and their auditors should pay particular attention in the areas of consolidated financial statements, joint arrangements and valuation of deferred tax assets when preparing and auditing their 2014 IFRS financial statements.“This will contribute to ensuring the relevance and reliability of financial information provided to investors, and ultimately contributes to the proper functioning of Europe’s capital markets.”Furthermore, the Public Statement highlights two areas that should be considered in the preparation of the 2014 financial statements. ESMA and the national enforcers expect EU listed banks to provide relevant information in relation to material impacts resulting from the European Central Bank’s Comprehensive Assessment of the banking sector and on any changes in the level of regulatory capital required. In addition, ESMA considers that findings included in the 2013 ESMA Report on comparability of financial statements of financial institutions continue to be of high relevance for the 2014 annual reports.  The Public Statement also encourages listed companies to provide entity-specific disclosures, relevant to their performance and financial situation at the end of the period presented. ESMA believes that the early involvement and commitment of senior management in this respect is vital to ensure that listed companies give relevant and reliable information to investors.Application will be monitored and supervisedESMA and European national enforcers will monitor and supervise the application of the IFRS requirements outlined in the Priorities, with national authorities incorporating them into their reviews and taking corrective actions where appropriate. ESMA will collect data on how European listed entities have applied the Priorities and will publish its findings in early 2016.Notes for editors 2014/1309 ESMA Public Statement  - European common enforcement priorities for 2014 financial statements 2014/1293 ESMA Guidelines on enforcement of financial information 2013/1664 ESMA Review of Accounting Practices -  Comparability of IFRS Financial Statements of Financial Institutions in Europe ESMA is an independent EU Authority that was established on 1 January 2011 and works closely with the other European Supervisory Authorities responsible for banking (EBA), and insurance and occupational pensions (EIOPA), and the European Systemic Risk Board (ESRB). ESMA’s mission is to enhance the protection of investors and promote stable and well-functioning financial markets in the European Union (EU).  As an independent institution, ESMA achieves this aim by building a single rule book for EU financial markets and ensuring its consistent application across the EU.  ESMA contributes to the regulation of financial services firms with a pan-European reach, either through direct supervision or through the active co-ordination of national supervisory activity.

11/03/2015 2015/562 Press release- ESMA sees continued tense securities market conditions , Press Release PDF
141.95 KB
04/10/2016 2016/1432 Press release- ESMA reports on shadow banking, leverage and pro-cyclicality , , Press Release PDF
151.69 KB
30/06/2015 2015/1068 Press Release- ESMA publishes guidelines for issuers performance measures , , Press Release PDF
89.06 KB
02/12/2011 2011/414 Press release- ESMA gathers worldwide supervisors to discuss enforcement of IFRS , Press Release PDF
28.53 KB
20/03/2017 ESMA71-99-371 Press release TRV No. 1, 2017 , Press Release PDF
226.09 KB
27/10/2017 ESMA71-99-623 Press Release on 2017 Enforcement Priorities , , , Press Release PDF
172.2 KB
06/12/2017 ESMA50-164-1173 Press Release MiFID/MAR Transitional Transparency Calculations , , , , Press Release PDF
225.44 KB
28/10/2020 ESMA71-99-1422 Press Release European Common Enforcement Priorities 2020 , , , Press Release PDF
101.44 KB
27/10/2015 2015/1607 Improve quality of disclosures in financial statements , Press Release PDF
86.43 KB
18/07/2013 2013/998 Guidelines on the model MoU concerning consultation, cooperation and the exchange of information related to the supervision of AIFMD entities , Guidelines & Recommendations PDF
245.15 KB

ESMA finalises supervisory co-operation agreements for alternative investment funds The European Securities and Markets Authority (ESMA) has approved seven co-operation arrangements between EU securities regulators and their global counterparts with responsibility for the supervision of alternative investment funds, including hedge funds, private equity and real estate funds. ESMA’s Board of Supervisors, at its July meeting, approved Memoranda of Understanding (MoUs) with authorities from the Bahamas, Japan, Malaysia, Mexico and the United States, including the Commodity Futures Trading Commission (CFTC). ESMA has now negotiated 38 agreements on behalf of the 31 EU/EEA national competent authorities for securities markets supervision. The co-operation agreements allow for the exchange of information, cross-border on-site visits and mutual assistance in the enforcement of respective supervisory laws. ESMA had approved 31 MoUs with other non-EU regulators in May. The agreements cover third-country alternative investment fund managers (AIFMs) that market alternative investment funds (AIFs) in the EU and EU AIFMs that manage or market AIFs outside the EU. The agreements also cover co-operation in the cross-border supervision of depositaries and AIFMs’ delegates. National securities regulators in the EU, as the supervisors of AIFMs, are in the process of signing MoUs with those jurisdictions relevant to their market. The existence of co-operation arrangements between the EU and non-EU authorities is a precondition of the Alternative Investment Fund Managers Directive (AIFMD) for allowing managers from third countries access to EU markets or to perform fund management by delegation from EU managers by 22 July 2013. The co-operation arrangements are applicable from 22 July, and will enable cross-border marketing of AIFs to professional investors between jurisdictions. This is subject to the non-EU jurisdiction not being listed as a non-cooperative jurisdiction by the Financial Action Task Force and, as from the entry into force of the passport for non-EU managers, having co-operation agreements in place with EU Member States regarding the exchange of information on tax matters. The content of the ESMA MoUs follow the IOSCO Principles on Cross-Border Supervisory Co-operation of 2010, and complements the terms and conditions of the IOSCO Multilateral MoU Concerning Consultation and Co-operation and the Exchange of Information of 2002 (MMoU). ESMA had originally contacted all the authorities that have signed the IOSCO MMoU of 2002. ESMA has now approved MoUs with those 42 authorities that responded to ESMA’s call. ESMA continues to negotiate the MoU with the Chinese authority.   Memoranda of Understanding (MoUs) MoU with AFSA (Albania) MoU with ASIC (Australia) MoU with BMA (Bermuda) MoU with Canadian authorities  Accompanying letter MoU with CDVM (Morocco) MoU with CFTC (US) Accompanying letter MoU with CIMA (Cayman Islands) MoU with CMA (Kenya) MoU with CMSA (Tanzania) MoU with CNBV (Mexico) MoU with CVM (Brazil) MoU with DFSA (Dubai) MoU with FCSM (Mauritius) MoU with FINMA (Switzerland) MoU with FSA (Labuan) MoU with FSC (BVI) MoU with FSC (Guernsey) MoU with FSC (Isle of Man) MoU with FSC (Jersey) MoU with HKMA (Hong Kong) MoU with ISA (Israel) MoU with JFSA (Japan) MoU with MAFF (Japan) MoU with MAS (Singapore) MoU with METI (Japan) MoU with OCC and FED (US) MoU with OSFI (Canada) MoU with SC (Malaysia) MoU with SC (Republic of Srpska) MoU with SC (The Bahamas) MoU with SCA (UAE) MoU with SEBI (India) MoU with SEC (Montenegro) MoU with SEC (Pakistan) MoU with SEC (Thailand) MoU with SEC Macedonia (FYROM) MoU with SFC (Hong Kong) MoU with US SEC Accompanying letter   MoU with EFSA (Egypt)   MoU with FMA (New Zealand)   MoU with FSB (South Africa)   MoU with SSC (Vietnam)   MoU with FSC and FSS (South Korea)

19/07/2013 2013/1013 Guidelines on enforcement of financial information , Consultation Paper PDF
540.55 KB

Responding to this paper The European Securities and Markets Authority (ESMA) is seeking comments on all matters covered in this paper and in particular on the specific questions summarised in Annex 1. Comments are most helpful if they: respond to the question stated; indicate the specific question to which the comment relates; contain a clear rationale; and describe any alternatives ESMA should consider. Deadline ESMA will consider all comments received by 15 October 2013. All contributions should be submitted online at www.esma.europa.eu under the heading “Your input - Consultations” Publication of responses All contributions received will be published following the close of the consultation, unless you request otherwise. Please clearly and prominently indicate in your submission any part you do not wish to be publicly disclosed. 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 ESMA’s rules on 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 ESMA’s Board of Appeal and the European Ombudsman. Data protection Information on data protection can be found at www.esma.europa.eu under the heading “Legal Notice”. Who should read this paper All interested parties are invited to respond to this consultation paper. It will primarily be of interest to those charged with the governance of issuers preparing financial information, users of financial information, auditors, and other parties who have a particular interest in financial reporting.

26/10/2018 ESMA71-99-1052 European enforcers to focus on new IFRSs and non-financial information in issuers’ 2018 annual reports , , Press Release PDF
264.23 KB
27/03/2019 ESMA71-99-1128 EU enforcers focus on new IFRS standards and non-financial information , , Press Release PDF
137.55 KB
16/11/2020 ESMA71-99-1436 EU derivative clearing showed strong growth in 2019 Press Release PDF
94.57 KB

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