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Date Ref. Title Section Type Download Info Summary Related Documents Translated versions
28/03/2011 2011/22 Report- ESMA Data on Prospectuses Approved and Passported- July 2010 to December 2010 , Final Report PDF
134.79 KB
23/03/2011 2011/67 Feedback statement- Consultation Paper on proposed amendments to CESR , CESR Document PDF
384.63 KB
30/03/2012 2012/228 Draft technical standards on the Regulation (EU) No 236/2012 of the European Parliament and of the Council on short selling and certain aspects of credit default swaps Technical Standards PDF
1.02 MB
Regulation (EU) No 236/2012 of the European Parliament and of the Council of 14 March on short selling and certain aspects of credit default swaps (the Regulation)  requires ESMA to develop draft regulatory (RTS) and implementing technical standards (ITS) in relation to several provisions contained in Articles 9, 11, 12 and 16 of the Regulation. The draft RTS and ITS will be submitted to the European Commission by 31 March 2012. The Commission has three months to decide whether to endorse ESMAs draft technical standards. A further regulatory technical standard, on the method of calculation of the fall in value of a financial instrument required under Article 24(8) of the Regulation will be submitted together with the technical advice in the course of April 2012.
06/07/2012 2012/387 Final report Guidelines on certain aspects of the MiFID suitability requirements , Final Report PDF
444.15 KB
29/06/2012 2012/415 Call for Evidence on Empty Voting , CESR Document PDF
275.66 KB
ESMA launched a Call for Evidence on Empty Voting in September 2011 to analyse the potential issues and concerns raised by the practice of empty voting and to examine whether there was a possible need for further action. An analysis of the responses received to the consultation has led ESMA to conclude that there is insufficient evidence to justify any regulatory action at the European level at present.
26/07/2012 2012/482 Review of Greek Government Bonds accounting practices , Final Report PDF
583.61 KB

This report includes a Review of Greek Government Bonds accounting practices in the IFRS Financial Statements for the year ended 31 December 2011.

16/08/2012 2012/525 Summary of responses on considerations of materiality in financial reporting , Final Report PDF
383.4 KB
25/09/2012 2012/602 ESMA Data on Prospectuses Approved and Passported- January 2011 to December 2011 , Final Report PDF
573.49 KB
25/09/2012 2012/603 ESMA Data on Prospectuses Approved and Passported- January 2012 to June 2012 , Final Report PDF
431.12 KB
NOTE: This Report is an amended version of the Report published on 25 September 2012. The previously published Report was amended on 15 May 2013 following the discovery of factual errors in the statis-tical information in Section III.2.   Title ESMA Data on Prospectuses Approved and Passported - January 2012 to June 2012
01/11/2012 2012/715 ESMA Opinion on emergency measure by Spanish CNMV under Section 1 of Chapter V of Regulation No. 236/2012 on short selling and certain aspects of credit default swaps Opinion PDF
79.2 KB
ESMA Opinion ESMA is adopting the following opinion on the notified measure, on the basis of Article 27(2) of Regulation 236/2012 on Short selling and certain aspects of credit default swaps: On the adverse events or developmentsESMA considers that there are adverse developments which constitute a serious threat to financial stability and to market confidence in Spain. On the appropriateness and proportionality of the measure ESMA considers that the measure is appropriate and proportionate to address the above-mentioned threats that persist in Spain. On the duration of the measureESMA considers that the duration of the measure is justified and appreciates the CNMV’s statement in its notification of intent whereby the measure may be lifted during the period of enforcement of the measure, if considered necessary.
01/11/2012 2012/717 ESMA Opinion on emergency measure by the Greek HCMC under Section 1 of Chapter V of Regulation No. 236/2012 on short selling and certain aspects of credit default swaps Opinion PDF
95.45 KB
ESMA Opinion ESMA is adopting the following opinion on the notified measure, on the basis of Article 27(2) of Regulation 236/2012 on Short selling and certain aspects of credit default swaps: On the adverse events or developmentsESMA considers that there are adverse developments which constitute a serious threat to financial stability and to market confidence in Greece. On the appropriateness and proportionality of the measure ESMA considers that the measure is appropriate and proportionate to address the above-mentioned threats that persist in Greece. On the duration of the measureESMA considers that the duration of the measure is justified and appreciates the HCMC’s statement in its notification of intent whereby the measure may be lifted during the period of enforcement of the measure, if considered necessary.
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 Final Report PDF
532.88 KB
29/01/2013 2013/149 Emergency measure by the Greek HCMC under Section 1 of Chapter V of Regulation No 236/2012 on short selling and certain aspects of credit default swaps Opinion PDF
96.52 KB
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 Final Report PDF
501.8 KB
18/11/2013 2013/1664 Review of Accounting Practices- Comparability of IFRS Financial Statements of Financial Institutions in Europe Final Report PDF
1.3 MB
This report provides an overview of accounting practices of financial institutions in Europe in selected areas related to financial instruments. It evaluates the level of comparability and quality of the disclosures in the 2012 IFRS financial statements of a sample of 39 major European financial institutions and includes recommendations to enhance the transparency of financial information through the application of the IFRS provisions. Transparent financial information plays a key role in maintaining market confidence, improving markets’ efficiency by allowing investors to identify risks in a timely manner, contributing to financial stability and is a pre-requisite in creating premises for sound economic growth. As an effect of market turbulences resulting from the financial crisis, transparency and comparability of the financial statements of financial institutions have gained increased importance for market participants. In this context, ESMA has intensified its reviewing activities, with an increased focus on the financial statements of financial institutions and together with EBA and ESRB has undertaken further initiatives to improve the level of confidence in the financial sector by asking financial institutions to provide better disclosure of financial and risk information in financial reporting. Overall ESMA found that disclosures specifically covered by requirements of IFRS 7 – Financial Instru-ments: Disclosures were generally provided and acknowledges the efforts made by financial institutions to improve the quality of their financial statements. Yet, ESMA observed a wide variability in the quality of the information provided and identified some cases where the information provided was not sufficient or not sufficiently structured to allow comparability among financial institutions. Some financial institutions provided disclosures that were not specific enough, lacked links between quantitative and narrative information, or provided disclosures that could not be reconciled to the primary financial statements. ESMA urges issuers to take a step back and consider the overall objectives of IFRS 7 against their specific circumstances when preparing disclosures. When information was provided outside financial statements (e.g. in a risk report or business review), in some cases it was unclear whether it was incorporated by reference. In general, users of financial infor-mation would benefit if information provided in different sections of the financial report were linked to each other and if information provided across these reports was consistent or major differences in bases used to provide this information were explained.
18/12/2013 2013/1943 ESMA Data on Prospectuses Approved and Passported—January 2013 to June 2013 , Final Report PDF
338.17 KB
18/12/2013 2013/1944 Format of the base prospectus and consistent application of Article 26(4) of the Prospectus Regulation , Opinion PDF
75.6 KB
20/12/2013 2013/1970 Draft Regulatory Technical Standards on specific situations that require the publication of a supplement to the prospectus , Technical Standards PDF
713.74 KB
The Final Report contains the draft Regulatory Technical Standard (RTS) on situations which require the publication of a supplement to the prospectus which ESMA is required to submit to the European Commission by 1 January 2014 in accordance with Article 16(3) of the Prospectus Directive. The Report furthermore includes a summary of the main responses received to ESMA’s Consultation Paper which was published in March 2013. The draft RTS sets out nine situations which are always considered to be significant in the context of securities issuance and where a supplement to the prospectus will always be required. Other situations would require a case-by-case assessment.
14/02/2013 2013/218 Considerations of materiality in financial reporting , Final Report PDF
446.95 KB
20/03/2013 2013/317 Framework for the assessment of third country prospectuses under Article 20 of the Prospectus Directive , Opinion PDF
725.59 KB

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