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18/06/2020 ESMA32-60-607 Final report on draft RTS including 2020 update RTS on ESEF Final Report PDF
6.21 MB
28/05/2020 ESMA33-128-563 Questions and answers on the Securitisation Regulation Q&A PDF
1.18 MB
06/05/2020 ESMA71-99-1321 ESMA registers SFTR TRs , , Statement PDF
95.4 KB
26/03/2020 ESMA80-191-995 COVID-19 Public Statement , Statement PDF
113.93 KB
06/01/2020 ESMA70-151-2838 Guidelines on Reporting Under SFTR Final Report PDF
3.32 MB
06/01/2020 ESMA70-151-2703 Final Report- Guidelines on Reporting Under SFTR Final Report PDF
1.38 MB
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 , Final Report PDF
6.5 MB
03/05/2019 ESMA35-43-1737 Final report on integrating sustainability risks and factors in the MIFID II , , Final Report PDF
371.73 KB
11/01/2019 ESMA33-128-577 Statement on Securitisation implementation Statement PDF
324.46 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 Final Report PDF
609.03 KB
13/11/2018 ESMA33-128-488 Final Report Repositories Technical Standards Final Report PDF
1.55 MB
22/08/2018 ESMA33-128-474 Final Report on Technical standards on disclosure requirements under the Securitisation Regulation Final Report PDF
3.12 MB
23/05/2018 ESMA71-99-979 ESMA appoints new chair to its Committee of Economic and Markets’ Analysis , Statement PDF
209.05 KB
15/03/2018 JC-2018-04 Joint Committee Final Report on Big Data Final Report PDF
520.31 KB
18/12/2017 ESMA32-60-204 Final report on the RTS on the European Single Electronic Format Final Report PDF
6.37 MB
13/11/2017 ESMA50-157-828 ESMA alerts firms involved in Initial Coin Offerings (ICOs) to the need to meet relevant regulatory requirements , Statement PDF
330.73 KB
13/11/2017 ESMA50-157-829 ESMA alerts investors to the high risks of Initial Coin Offerings (ICOs) , Statement PDF
444.01 KB
29/09/2017 ESMA71-99-602 ESMA appoints new chairs to Standing Committees , , , , , , , Statement PDF
143.69 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].

07/03/2017 ESMA50-1623096732-432x Closing remarks Financial Innovation Day Statement PDF
152.27 KB