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Date Ref. Title Section Type Download Info Summary Related Documents Translated versions
24/10/2022 ESMA24-436-1425 Verena Ross Opening Statement- 2022 ECON Annual Hearing, 24 October 2022 , , , , , , , Statement PDF
619.63 KB
04/12/2012 2012/802 Statement: Operating Principles and Areas of Exploration in the Regulation of the Cross-Border Derivatives Market Statement PDF
131.03 KB
30/08/2012 2012/537 STATEMENT- Short Selling Regulation Update: Market Maker & Primary Dealer Exemption Notification Procedure , , Statement PDF
77.92 KB
The European Securities and Markets Authority (ESMA) is publishing this notice to alert financial market participants to its upcoming consultation on the market making and authorised primary dealer exemption under the EU’s Short Selling Regulation (SSR) and the procedure to be followed by firms and regulators in dealing with notifications of intention to use the exemption.
17/12/2021 ESMA91-372-1913 Statement on UK CCP Article25 2c assessment 2021 , , Statement PDF
166.79 KB
30/01/2020 ESMA71-99-1279 Statement on ESMA Standing Committee Chair appointments Jan 2020 , Statement PDF
89.15 KB
04/05/2020 ESMA71-99-1324 Statement on bilateral margin RTS amendments in response to Covid-19 , , , Statement PDF
101.16 KB
11/08/2011 2011/266 Public statement- harmonised regulatory action on short-selling in the EU , Statement PDF
97.39 KB
25/11/2011 2011/397 Public statement on sovereign debt in IFRS financial statements , , , Statement PDF
189.46 KB
28/06/2022 ESMA91-398-5595 Public Statement FICC and OCC June 2022 , Statement PDF
75.42 KB
21/07/2016 2016/1159 Public notice- Infrigement by Fitch , Statement PDF
324.96 KB
28/06/2017 ESMA35-36-885 Product Intervention- General Statement , Statement PDF
123.04 KB

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[1] 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[2].

 

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[3].

31/07/2014 2014/944 Potential Risks Associated with Investing in Contingent Convertible Instruments , Statement PDF
106.1 KB
The European Securities and Markets Authority (ESMA) is issuing this statement to clarify to institutional investors risks from a newly emerging asset class referred to by most market participants as contingent convertibles instruments (CoCos). If they work as intended in a crisis CoCos will play an important role to inhibit risk transfer from debt holders to taxpayers. They along with standards to improve the quality and quantity of bank capital reflect a considerate response to the former regulatory capital framework. However, it is unclear as to whether investors fully consider the risks of CoCos and correctly factor those risks into their valuation. ESMA believes there are specific risks to CoCos and that investors should take those risks into consideration prior to investing in these instruments.
30/11/2022 ESMA50-164-6905 Opening statement at the ECON hearing on FTX , Statement PDF
132.73 KB
07/03/2017 ESMA50-1623096732-432 Opening remarks Financial Innovation Day Statement PDF
169.02 KB
17/12/2020 ESMA71-99-1493 New SCSC Chair December 2020 , , , Statement PDF
86.75 KB
23/11/2018 ESMA70-151-1948 Managing risks of a no-deal Brexit in the area of central clearing , , Statement PDF
128.26 KB
13/11/2017 ESMA71-99-650 Kroll Bond Rating Agency Europe Limited Registration , Statement PDF
164.33 KB
15/03/2018 JC-2018-04 Joint Committee Final Report on Big Data Final Report PDF
520.31 KB
21/05/2015 2015/856 Ann1 Investment-based crowdfunding- Insights from regulators in the EU Final Report PDF
319.65 KB
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