ESMA LIBRARY

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Date Ref. Title Section Type Download Info Summary Related Documents Translated versions
01/04/2022 ESMA32-51-370 Q&A on ESMA Guidelines on Alternative Performance Measures Corporate Disclosure, Corporate Information Q&A PDF
987.02 KB
28/01/2022 ESMA70-145-114 Q&A on the Benchmarks Regulation (BMR) Benchmarks, Supervisory convergence Q&A PDF
553.88 KB
18/11/2021 ESMA70-156-4953 Final Report on draft RTS on the clearing and derivative trading obligations in view of the benchmark transition to risk free rates Benchmarks, Post Trading Final Report PDF
948.59 KB
24/09/2021 ESMA81-393-239 Final Report on Guidelines on methodology, oversight function and record keeping under the Benchmarks Regulation Benchmarks Final Report PDF
315.98 KB
26/03/2021 ESMA43-370-281 Final report_TA on procedural rules for penalties imposed on Benchmark Administrators Benchmarks Final Report PDF
369.64 KB
01/02/2021 ESMA81-393-83 Final Report BMR Advice Fees Benchmarks Final Report PDF
504.55 KB
18/12/2020 ESMA50-157-2403 Final report on Guidelines on outsourcing to cloud service providers Innovation and Products Final Report PDF
384.63 KB
11/04/2019 ESMA31-62-780 Q&A on Prospectus Related Topics Brexit, Corporate Disclosure, Corporate Finance, Corporate Governance, Corporate Information, Prospectus, Supervisory convergence Q&A PDF
957.9 KB
20/12/2018 ESMA70-145-1008 Final report on Guidelines on non-significant benchmarks Benchmarks Final Report PDF
673.72 KB
15/03/2018 JC-2018-04 Joint Committee Final Report on Big Data Innovation and Products Final Report PDF
520.31 KB
02/06/2017 ESMA70-145-81 Final report on draft RTS on cooperation with third countries under BMR Benchmarks Final Report PDF
203.07 KB
10/11/2016 2016-1560 Final Report on Technical Advice under the Benchmarks Regulation Benchmarks Final Report PDF
943.42 KB
01/07/2015 2015/1005 Questions and Answers: Investment-based crowdfunding: money laundering/terrorist financing Innovation and Products Q&A PDF
157.73 KB
21/05/2015 2015/856 Ann1 Investment-based crowdfunding- Insights from regulators in the EU Innovation and Products Final Report PDF
319.65 KB
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.
23/09/2014 2014/1164 Annex Annex to the Statement by Steven Maijoor, Chair of ESMA to the ECON hearing, 23 September 2014 Corporate Information Final Report PDF
503.01 KB