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Date Ref. Title Section Type Download Info Summary Related Documents Translated versions
18/06/2014 2014 Joint ESA Consumer Protection Day- Programme , Reference PDF
229.12 KB
14/09/2015 2015/1381 Annex to the Statement by Steven Maijoor ESAs Joint Committee- ECON Hearing 14 September 2015 , Reference PDF
253.1 KB
29/09/2016 2016/1406 reply form Reply form to the Consultation paper on Benchmarks Reference DOCX
757.37 KB
30/09/2016 2016/1414 Methodological Framework- Model Written Arrangements for Benchmark Colleges Reference PDF
272.57 KB

Article 46 of the Regulation (EU) No 2016/1011 of the European Parliament and of the Council of 8 June 2016 on indices used as benchmarks in financial instruments and financial contracts or to measure the performance of investment funds (Regulation) provides that the competent authority of an administrator of a critical benchmark that is referred to in points (a) and (c) of Article 20(1) of the Regulation shall establish a college.

ESMA will be a member of every college and according to Article 46(7) of the Regulation may give advice concerning the written arrangements. To promote the convergent operation of benchmark colleges, ESMA has developed model written arrangements that may be used by administrators of critical benchmarks according to Article 46(6) of the Regulation.

03/06/2016 2016/723 RF Reply form for the Consultation Paper on ESMA technical advice on Benchmarks Regulation , Reference DOCX
784.51 KB
19/12/2016 2016/JCESA QA Questions and Answers on Big Data Q&A PDF
333.65 KB
31/05/2021 2021/Q2 IFR list Further instruments and funds qualifying as own funds for investment firms , Reference XLSX
26.97 KB
19/10/2017 Ares(2017)5008790 European Commission request to ESAs to issue recurrent reports- CMU action , Reference PDF
294.97 KB
26/07/2021 C(2021) 4858 final Commission decision on Q&As to ESAs , Reference PDF
290.06 KB
02/08/2021 CFA PRIIPS 27/07/2021 Call for advice to the Joint Committee of the European Supervisory Authorities regarding the PRIIPs Regulation , Reference PDF
258.73 KB
29/11/2017 ECB/ESMA/FSMA Risk Free Rate Working Group Application Form Reference DOCX
25.87 KB
20/10/2019 ES IC1 ESMA-ASIC MoU on BMR Reference PDF
368.11 KB
09/09/2021 ESACD 2021 Programme for the joint ESA Consumer Day 2021 , , Reference PDF
159.66 KB
02/04/2020 ESMA 70-152-3050 CCSPSA consultation_Response Form , , Reference DOCX
774.63 KB
16/10/2019 ESMA30-201-535 Response form to consultation on amended PRIIPs KID , Reference DOCX
576.23 KB
17/03/2021 ESMA34-45-1218 Response form CP Taxonomy Disclosures , Reference DOCX
569.44 KB
28/04/2021 ESMA34-45-1248 Public hearing on CP on taxonomy-related product disclosures April 2021- Agenda , Reference PDF
121.71 KB
23/04/2020 ESMA34-45-904 Joint ESA consultation on ESG disclosures- response form , Reference DOCX
573.19 KB
06/11/2017 ESMA50-165-422 The impact of charges on mutual fund returns- correction , , Reference PDF
590.09 KB

ERRATUM - In the original version of this document published on 19 October 2017 in table V.3 on page 4, the values in the last four rows of column five were accidentally misreported. For this reason, ESMA now provides a corrected version, including the corrected values and a footnote pointing to the initial mistake.

ESMA carried out a first analysis on fund performance measures, developing initial metrics to analyse the impact of ongoing fees, one-off charges and inflation on the returns of mutual funds. Key preliminary results for the EU fund industry show: Substantial reduction in net returns available to investors, especially in the retail sector and weakly cost- or price-sensitive investment decisions by retail investors

On average ongoing fees and one-off charges and inflation-reduced returns available to investors by 29% of gross returns between 2013 and 2015. These reductions apply to all market segments, while varying across jurisdictions, asset classes and client types. Relative return reductions range from 11% for passive equity fund shares to 44% for retail fund shares in bond mutual funds. Relative and absolute return reductions for actively managed and retail fund shares tend to exceed those of passively managed and institutional fund shares. Despite the impact of fees and charges on the net outcome to investors, these do not seem to be reflected in investor choices.

18/12/2017 ESMA65-8-5306 Benchmarks attributes Reference PDF
229.87 KB

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