ESMA LIBRARY

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Date Ref. Title Section Type Download Info Summary Related Documents Translated versions
15/10/2018 ESMA31-62-1114 2017 Report on EEA prospectus activity Corporate Finance Final Report PDF
385.45 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.
07/06/2019 ESMA32-60-474 Draft RTS amending Delegated Regulation (EU) 2018/815 on the updates of the taxonomy to be used for the ESEF Corporate Disclosure, European Single Electronic Format Final Report PDF
6.5 MB
26/07/2021 SFDR EC Q&A EC Q&A on sustainability-related disclosures Joint Committee, Sustainable finance Q&A PDF
601.99 KB
30/11/2021 SFDR EC Q&A CORRECTION EC Q&A on sustainability-related disclosures- correction Joint Committee, Sustainable finance Q&A PDF
87.19 KB
31/05/2021 ESMA32-60-727 Final Report draft RTS amending RTS on ESEF 2021 Corporate Disclosure, European Single Electronic Format Final Report PDF
9.47 MB
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
18/06/2020 ESMA32-60-607 Final report on draft RTS including 2020 update RTS on ESEF European Single Electronic Format Final Report PDF
6.21 MB
28/03/2022 ESMA70-445-38 Final Report on Emission allowances and associated derivatives MiFID - Secondary Markets, Sustainable finance Final Report PDF
3.19 MB
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
03/05/2019 ESMA35-43-1737 Final report on integrating sustainability risks and factors in the MIFID II Audit, MiFID - Investor Protection, Sustainable finance Final Report PDF
371.73 KB
03/05/2019 ESMA34-45-688 Final report on integrating sustainability risks and factors in the UCITS Directive and the AIFMD Fund Management, Sustainable finance Final Report PDF
483.4 KB
07/04/2021 ESMA70-156-4103 Final Report on SME GMs- MiFID II Trading Final Report PDF
741.13 KB
22/10/2021 JC 2021 50 Final report on taxonomy-related product disclosure RTS Joint Committee, Sustainable finance Final Report PDF
1.62 MB
18/12/2017 ESMA32-60-204 Final report on the RTS on the European Single Electronic Format European Single Electronic Format Final Report PDF
6.37 MB
01/03/2021 ESMA30-379-471 Final Report- Advice on Article 8 of the Taxonomy Regulation Sustainable finance Final Report PDF
2.89 MB
28/03/2022 ESMA70-156-4944 Final Report- RTS 1 review Trading Final Report PDF
1003.06 KB
28/03/2022 ESMA70-156-4825 Final Report- RTS 2 review Trading Final Report PDF
1.87 MB
18/12/2015 2015/1887 Follow-up report on the development of the Best Practice Principles for Providers of Shareholder Voting Research and Analysis Corporate Finance, Corporate Governance Final Report PDF
645.64 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

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