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Date Ref. Title Section Type Download Info Summary Related Documents Translated versions
25/04/2017 ESMA22-106-196 Advice in response to JC Discussion Paper on the Use of Big Data by Financial Institutions Securities and Markets Stakeholder Group SMSG Advice PDF
144.22 KB
20/12/2013 2013/SMSG/017 Advice on Consultation Paper – Draft Regulatory Technical Standards on contracts having a direct, substantial and foreseeable effect within the Un-ion and non-evasion of provisions of EMIR Securities and Markets Stakeholder Group SMSG Advice PDF
27.43 KB
20/12/2013 2013/SMSG/018 Advice on Discussion Paper – The Clearing Obligation under EMIR Securities and Markets Stakeholder Group SMSG Advice PDF
46.94 KB
28/10/2011 2011/SMSG/13 Advice on ESMA's draft technical advice to the European Commission on possible implementing measures of the Alternative Investment Fund Man-agers Directive in relation to supervision and third countries Securities and Markets Stakeholder Group SMSG Advice PDF
88.23 KB
01/12/2011 2011/SMSG/18 Advice on ESMA's public consultation on UCITS Exchange traded funds in the European Union Securities and Markets Stakeholder Group SMSG Advice PDF
149.17 KB
28/02/2012 2012/SMSG/12 Advice on Guidelines on certain aspects of the MiFID compliance function requirements Securities and Markets Stakeholder Group SMSG Advice PDF
83.35 KB
28/02/2012 2012/SMSG/11 Advice on Guidelines on certain aspects of the MiFID suitability requirements Securities and Markets Stakeholder Group SMSG Advice PDF
138.1 KB
18/09/2015 2015/SMSG/026 Advice on Proxy advisors Securities and Markets Stakeholder Group SMSG Advice PDF
206.54 KB
11/11/2015 ESMA/2015/SMSG/031 Advice on sound remuneration under UCITS and AIFMD Securities and Markets Stakeholder Group SMSG Advice PDF
123.3 KB
08/03/2021 ESMA70-151-2536 compliance table Guidelines APC Measures Guidelines and Technical standards, Trade Repositories Compliance table PDF
141.15 KB
28/01/2022 ESMA50-164-5210 Compliance table on Guidelines on outsourcing to cloud service providers Guidelines and Technical standards, Innovation and Products Compliance table PDF
172.7 KB
26/03/2021 JC 2021 16 ESAs’ Opinion to the European Commission on the Jurisdictional Scope of Application of the SECR Joint Committee, Securitisation Opinion PDF
339.91 KB
27/05/2021 ESMA22-105-1363 ESMA OPINION ON 2019 DISCHARGE REPORT OF EP Board of Supervisors, Corporate Information Opinion PDF
87.37 KB
31/01/2019 ESMA33-128-600 ESMA Opinion on securitisation RTS Securitisation Opinion PDF
4.02 MB
17/12/2021 JC 2021 19 Joint Committee Q&As relating to the Securitisation Regulation Securitisation Q&A PDF
337.6 KB
20/12/2019 SMSG ESMA20-06-2053 Joint position paper from the ESA stakeholder groups on the ESA review Securities and Markets Stakeholder Group SMSG Advice PDF
283.55 KB
02/02/2012 2012/SMSG/6 Letter regarding deadlines for the submission of ESMA’s technical standards Securities and Markets Stakeholder Group SMSG Advice PDF
82.35 KB		 A letter from the ESMA Securities and Markets Stakeholder Group to Michel Barnier, Commissioner for Internal Market and Services, Sharon Bowles, Chair of ECON, and Klaus-Heiner Lehne, Chair of JURI, regarding deadlines for the submission of ESMA's technical standards.
05/09/2018 ESMA70-151-1651 On the European Commission’s proposed amendments to SFTR Securitisation 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 Innovation and Products Opinion PDF
224.29 KB
18/12/2014 2014/1378 Opinion- Investment-based crowdfunding Innovation and Products Opinion PDF
460.92 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 this document.

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