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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
|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.|
|27/02/2018||ESMA71-319-70||Afore Consulting’s Second Annual FinTech and Digitalisation Conference: Regulation at the European Level and Beyond – Stanhope Hotel Brussels||Innovation and Products, Speeches||Speech||PDF
|14/10/2021||ESMA24-436-15||Annex to the Opening Statement ECON Hearing 14 October 2021||Board of Supervisors, Brexit, CCP Directorate, Corporate Information, Credit Rating Agencies, Innovation and Products, Joint Committee, Speeches, Supervisory convergence, Sustainable finance||Speech||PDF
|01/12/2022||ESMA24-436-1489||Chair Opening Statement ECON, 1 December 2022- Energy derivative markets||CCP Directorate, Market Abuse, Market Integrity, MiFID - Investor Protection, Speeches, Trading||Speech||PDF
|07/01/2016||2015/1915||Closing Speech by V Ross, ESMA FI Day||Innovation and Products||Speech||PDF
|30/11/2018||ESMA71-99-1070||Developments in RegTech and SupTech||Innovation and Products, Speeches||Speech||PDF
|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
|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
|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
|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
|31/03/2022||ESMA35-36-2537||Final Report on Guidelines on certain aspects of the MiFID II remuneration requirements||Guidelines and Technical standards, MiFID - Investor Protection||Final Report||PDF
|18/12/2020||ESMA50-157-2403||Final report on Guidelines on outsourcing to cloud service providers||Innovation and Products||Final Report||PDF
|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
|30/09/2016||2016/1412||Final Report on MAR Guidelines on commodity derivatives||Guidelines and Technical standards, Market Abuse, Market Integrity||Final Report||PDF
Article 7(5) of MAR provides that the European Securities and Markets Authority (ESMA) shall issue guidelines to establish a non-exhaustive indicative list of information which is reasonably expected or is required to be disclosed in accordance with legal or regulatory provisions in Union or national law, market rules, contract, practice or custom, on the relevant commodity derivatives markets or spot markets as referred to in Article 7(1)(b) of MAR. This final report follows the Consultation Paper (CP) issued on March 2016.
Section 2 contains information on the background and mandate, while Section 3 sets out ESMA’s feedback to the CP responses in relation to the scope of the guidelines, the financial instruments and products covered by the examples of information relating directly and indirectly to commodity derivatives and information directly relating to a spot market contract. It also indicates whether and where ESMA has changed the guidelines following the consultation.
Annex I lists questions raised in the CP. Annex 2 provides the legislative mandate on the basis of which ESMA is issuing these guidelines. Annex 3 sets out ESMA’s view on the costs and benefits associated with these guidelines. Annex 4 contains the text of the guidelines.
The guidelines in Annex 4 will be translated into the official languages of the European Union and published on the ESMA’s website. Within 2 months of the issuance of the translations, each national competent authority will have to confirm whether it complies or intends to comply with those guidelines. In the event that a national competent authority does not comply or does not intend to comply, it will have to inform ESMA, stating its reasons. ESMA will publish the fact that a national competent authority does not comply or does not intend to comply with those guidelines.
|28/11/2022||ESMA81-393-599||Final Report on review of RTS on recognition||Benchmarks, Guidelines and Technical standards||Final Report||PDF
|07/04/2021||ESMA70-156-4103||Final Report on SME GMs- MiFID II||Trading||Final Report||PDF
|17/11/2022||ESMA91-372-2346||Final Report on the Guidelines on the assessment of resolvability (Article 15(5) of CCPRRR)||CCP Directorate, Guidelines and Technical standards||Final Report||PDF
|17/11/2022||ESMA91-372-1791||Final report on the Guidelines on the types and content of the provisions of Cooperation Arrangements||CCP Directorate, Guidelines and Technical standards||Final Report||PDF
|15/07/2022||ESMA80-196-6345||Final Report on the Revision to Guidelines and Recommendations on the Scope of the CRA Regulation||Credit Rating Agencies, Guidelines and Technical standards||Final Report||PDF
|03/01/2022||ESMA35-43-2938||Final report- Guidelines on certain aspects of the MiFID II appropriateness and execution-only requirements||Guidelines and Technical standards, MiFID - Investor Protection||Final Report||PDF