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|Date||Ref.||Title||Section||Type||Download||Info||Summary||Related Documents||Translated versions|
|28/05/2020||ESMA35-43-349||Q&As on MiFID II and MiFIR investor protection topics||MiFID - Investor Protection, Supervisory convergence||Q&A||PDF
|28/05/2020||ESMA33-128-563||Questions and answers on the Securitisation Regulation||Securitisation||Q&A||PDF
|06/05/2020||ESMA35-43-2391||Reminder of firms’ MiFID II conduct of business obligations in the context of increasing retail investor activity||COVID-19, MiFID - Investor Protection||Statement||PDF
|01/04/2020||ESMA35-43-2126||Technical Advice on the impact of the inducements and costs and charges disclosure requirements under MiFID II||MiFID - Investor Protection||Technical Advice||PDF
|31/03/2020||ESMA35-36-1919||Clarification of issues related to the publication of reports by execution venues and firms as required under RTS 27 and 28||COVID-19, MiFID - Investor Protection||Statement||PDF
|20/03/2020||ESMA35-43-2348||ESMA Statement on COVID-19 telephone recording||COVID-19, MiFID - Investor Protection||Statement||PDF
|09/03/2020||ESMA80-199-332||ESMA Supervision- Annual Report 2019 and Work Programme 2020||Benchmarks, Credit Rating Agencies, Securities Financing Transactions, Securitisation, Trade Repositories||Annual Report||PDF
|04/02/2020||ESMA35-43-2134||ESMA’s Technical Advice to the Commission on the effects of product intervention measures||MiFID - Investor Protection||Technical Advice||PDF
|12/07/2019||ESMA35-36-1743||Statement Product Intervention||MiFID - Investor Protection||Statement||PDF
|11/01/2019||ESMA33-128-577||Statement on Securitisation implementation||Securitisation||Statement||PDF
|10/01/2019||ESMA71-99-1081||Press release- ESMA report finds investment product performance highly impacted by charges||MiFID - Investor Protection, Risk Analysis & Economics - Markets Infrastructure Investors||Annual Report||PDF
|10/01/2019||ESMA50-165-731||ESMA annual statistical report on performance and costs of retail investment products in the EU||MiFID - Investor Protection, Risk Analysis & Economics - Markets Infrastructure Investors||Annual Report||PDF
|19/12/2018||ESMA35-43-1328||Brexit Statement- information to clients||Brexit, MiFID - Investor Protection||Statement||PDF
|13/11/2018||ESMA33-128-505||Final Technical Advice Securitisation Repositories Fees||Securitisation||Technical Advice||PDF
|09/11/2018||ESMA35-36-1262||Technical Q&As on product intervention measures on CFDs and binary options||MiFID - Investor Protection||Q&A||PDF
|07/11/2018||ESMA71-99-1058||ESMA new SC chairs||Fund Management, MiFID - Investor Protection, Risk Analysis & Economics - Markets Infrastructure Investors||Statement||PDF
|30/05/2018||ESMA71-99-991||Statement of the EBA and ESMA on the treatment of retail holdings of debt financial instruments subject to the Bank Recovery and Resolution Directive||MiFID - Investor Protection, Warnings and publications for investors||Statement||PDF
|15/12/2017||ESMA71-99-910||Statement on preparatory work of the European Securities and Markets Authority in relation to CFDs and binary options offered to retail clients||MiFID - Investor Protection, Warnings and publications for investors||Statement||PDF
|28/06/2017||ESMA35-36-885||Product Intervention- General Statement||Innovation and Products, MiFID - Investor Protection||Statement||PDF
This statement provides an update on the European Securities and Markets Authority’s (ESMA) work in relation to the sale of contracts for differences (CFDs), binary options and other speculative products to retail investors.
ESMA has been concerned about the provision of speculative products such as CFDs, rolling spot forex and binary options to retail investors for a considerable period of time and has conducted ongoing monitoring and supervisory convergence work in this area. In this context, ESMA has previously published a number of Q&As on CFDs and other speculative products to foster supervisory convergence, having established a CFD Task Force in July 2015, and also issued a further investor warning on the sale of CFDs, binary options and other speculative products in July 2016.
However, ESMA remains concerned that these supervisory convergence tools may not be sufficiently effective to ensure that the risks to consumer protection are sufficiently controlled or reduced. ESMA is therefore discussing the possible use of its product intervention powers under Article 40 of MiFIR to address investor protection risks in relation to CFDs, rolling spot forex and binary options.
ESMA is in the process of discussing the possible use of its product intervention powers under Article 40 of MiFIR, the possible content of any such measures, and how they could be applied. However, ESMA can confirm that the measures being discussed for (i) CFDs and rolling spot forex and (ii) binary options include proposals that take into account a number of measures that have been adopted or publicly consulted on by EU National Competent Authorities. These measures include leverage limits, guaranteed limits on client losses, and / or restrictions on the marketing and distribution of these products.
In accordance with Article 40 of MiFIR, any intervention measures must be approved by the ESMA Board of Supervisors and can only come into effect from 3 January 2018 at the earliest.
 ESMA/2016/1166 Warning about CFDs, binary options and other speculative products published 25 July 2016
|31/03/2017||ESMA35-36-794||Q&A Relating to the provision of CFDs and other speculative products to retail investors under MiFID||MiFID - Investor Protection||Q&A||PDF