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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 Innovation and Products 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.
15/11/2018 ESMA70-145-1081 Annual report on administrative and criminal sanctions and other administrative measures under MAR Market Abuse, Market Integrity Annual Report PDF
158.47 KB
26/05/2016 2016/725 Draft RTS on indirect clearing arrangements under EMIR and MiFIR Guidelines and Technical standards, Post Trading, MiFID - Secondary Markets Final Report PDF
740.71 KB
15/04/2021 ESMA80-193-1713 EMIR and SFTR data quality report 2020 Market data, Press Releases, Securities Financing Transactions, Supervisory convergence Final Report PDF
791.94 KB
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
825.72 KB
25/05/2021 ESMA74-362-1986 Final report AND Guidelines on calculation of positions in SFTs by Trade Repositories Market data, Post Trading, Securities Financing Transactions Final Report PDF
629.81 KB
16/05/2022 ESMA91-372-2067 Final Report Draft Guidelines on Valuation prior to Termination CCP Directorate Final Report PDF
678.08 KB
26/07/2016 2016/1171 Final Report Draft Implementing Technical Standards on sanctions and measures under MAR Market Abuse, Market Integrity Final Report PDF
929.78 KB
16/05/2022 ESMA91-372-2069 Final Report Draft RTS on Resolution Colleges CCP Directorate Final Report PDF
987.29 KB
16/05/2022 ESMA91-372-2065 Final Report Draft RTS on Safeguards clients and indirect clients PUBLIC CCP Directorate Final Report PDF
453.16 KB
16/05/2022 ESMA91-372-2068 Final Report Draft RTS on the Content of Resolution Plans CCP Directorate Final Report PDF
728.74 KB
16/05/2022 ESMA91-372-2066 Final Report Draft RTS on Valuation and Independent Valuer CCP Directorate Final Report PDF
1.14 MB
30/03/2020 ESMA70-151-2919 Final Report EMIR RTS on Colleges for CCPs CCP Directorate, Post Trading, Supervisory convergence Final Report PDF
273.08 KB
16/05/2022 ESMA91-372-2070 Final Report Guidelines FoLTF CCP Directorate Final Report PDF
596.22 KB
05/06/2020 ESMA35-36-1946 Final Report Guidelines on certain aspects of the MiFID II compliance function requirements Guidelines and Technical standards, MiFID - Investor Protection Final Report PDF
395.33 KB
06/07/2012 2012/387 Final report Guidelines on certain aspects of the MiFID suitability requirements Guidelines and Technical standards, MiFID - Investor Protection Final Report PDF
444.15 KB
23/09/2020 ESMA70-155-10272 Final Report on Cum Ex and other multiple withholding tax reclaim schemes Market Abuse, Market Integrity, Trading Final Report PDF
906.57 KB
06/02/2018 ESMA70-145-398 Final report on draft ITS on forms and procedures for cooperation under Article 24 and 25 MAR Market Integrity Final Report PDF
940.38 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 Securitisation Final Report PDF
609.03 KB
24/02/2021 ESMA70-151-3370 Final report on GL on Review_Evaluation EU CCP NCAs EMIR Art 21 CCP Directorate Final Report PDF
428.18 KB

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