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Date Ref. Title Section Type Download Info Summary Related Documents Translated versions
18/12/2014 2014/1560 Advice- Investment-based crowdfunding Final Report PDF
482.2 KB
Crowdfunding is a means of raising finance for projects from ‘the crowd’ often by means of an internet-based platform through which project owners ‘pitch’ their idea to potential backers, who are typically not professional investors.  It takes many forms, not all of which involve the potential for a financial return.  ESMA’s focus is on crowdfunding which involves investment, as distinct from donation, non-monetary reward or loan agreement.Crowdfunding is relatively young and business models are evolving. EU financial services rules were not designed with the industry in mind.  Within investment-based crowdfunding a range of different operational structures are used so it is not straightforward to map crowdfunding platforms’ activities to those regulated under EU legislation. Member States and NCAs have been working out how to treat crowdfunding, with some dealing with issues case-by-case, some seeking to clarify how crowdfunding fits into existing rules and others introducing specific requirements.To assist NCAs and market participants, and to promote regulatory and supervisory convergence, ESMA has assessed typical investment-based crowdfunding business models and how they could evolve, risks typically involved for project owners, investors and the platforms themselves and the likely components of an appropriate regulatory regime. ESMA then prepared a detailed analysis of how the typical business models map across to the existing EU legislation, set out in sections 1 to 6 of this document.
21/07/2016 2016/1131 BoS Decision on Fitch Ratings Limited 21 July 2016 , Decision PDF
108.21 KB
15/04/2021 ESMA80-193-1713 EMIR and SFTR data quality report 2020 , , , Final Report PDF
791.94 KB
26/03/2021 JC 2021 16 ESAs’ Opinion to the European Commission on the Jurisdictional Scope of Application of the SECR , Opinion PDF
339.91 KB
31/01/2019 ESMA33-128-600 ESMA Opinion on securitisation RTS Opinion PDF
4.02 MB
09/03/2020 ESMA80-199-332 ESMA Supervision- Annual Report 2019 and Work Programme 2020 , , , , Annual Report PDF
825.72 KB
25/05/2021 ESMA74-362-1986 Final report AND Guidelines on calculation of positions in SFTs by Trade Repositories , , Final Report PDF
629.81 KB
08/01/2019 ESMA33-128-557 Final report on draft technical standards on cooperation, exchange of information and notification between competent authorities and ESMA, the EBA and EIOPA under the Securitisation Regulation Final Report PDF
609.03 KB
18/12/2020 ESMA50-157-2403 Final report on Guidelines on outsourcing to cloud service providers Final Report PDF
384.63 KB
22/08/2018 ESMA33-128-474 Final Report on Technical standards on disclosure requirements under the Securitisation Regulation Final Report PDF
3.12 MB
14/11/2016 2016/1565 Final Report on the clearing obligation for financial counterparties with a limited volume of activity , Final Report PDF
478.72 KB
13/11/2018 ESMA33-128-488 Final Report Repositories Technical Standards Final Report PDF
1.55 MB
12/07/2021 ESMA74-362-1978 Final report Technical Advice to EC on simplification and harmonisation of fees to TRs under EMIR and SFTR , , , Final Report PDF
278.42 KB
06/01/2020 ESMA70-151-2703 Final Report- Guidelines on Reporting Under SFTR Final Report PDF
1.38 MB
12/11/2019 ESMA63-313-548 Financial Regulation of the European Securities and Markets Authority , Decision PDF
759.59 KB
29/03/2021 ESMA70-151-2838 Guidelines on Reporting Under SFTR Final Report PDF
3.21 MB
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21/05/2015 2015/856 Ann1 Investment-based crowdfunding- Insights from regulators in the EU Final Report PDF
319.65 KB
15/03/2018 JC-2018-04 Joint Committee Final Report on Big Data Final Report PDF
520.31 KB
05/09/2018 ESMA70-151-1651 On the European Commission’s proposed amendments to SFTR Opinion PDF
405.72 KB
12/01/2017 ESMA50-1215332076-23 Opinion on the impact of the exclusion of fund management companies from the scope of the MiFIR intervention powers Opinion PDF
224.29 KB