ESMA LIBRARY

The ESMA Library contains all ESMA documents. Please use the search and filter options to find specific documents.
23
DOCUMENTS

REFINE YOUR SEARCH

Sections

Type of document

Your filters
Q&A X Opinion X Summary of Conclusions X SMSG Advice X Decision X Corporate Information X Innovation and Products X CESR Archive X
Reset all filters
Date Ref. Title Section Type Download Info Summary Related Documents Translated versions
19/12/2011 2011/BS/229 Decision of the European Securities and Markets Authority establishing its Review Panel , , Decision PDF
35.86 KB
This decision establishes the Review Panel of ESMA and sets out its mandate.
31/05/2011 2011/MB/69 Decision of the Management Board- Access to documents , Decision PDF
201.73 KB
10/03/2011 ESMA41-140-155 Decision of the Management Board- Code of good administrative behaviour , Decision PDF
179.82 KB
10/03/2011 2011/MB/3 Decision of the Management Board- Internal language arrangements , Decision PDF
18.51 KB
10/03/2011 2011/MB/4 Decision of the Management Board- Professional secrecy , Decision PDF
34.68 KB
23/03/2020 ESMA22-328-275 Decision of the Management Board- Rules of Procedure , Decision PDF
144.92 KB
28/07/2020 ESMA22-105-1208 ESMA Opinion on 2018 Discharge Report of EP Opinion PDF
92.69 KB
27/05/2021 ESMA22-105-1363 ESMA OPINION ON 2019 DISCHARGE REPORT OF EP , Opinion PDF
87.37 KB
08/03/2010 10-222 FAQ regarding the EU Regulation Credit Rating Agencies: Common positions agreed by CESR Members Q&A PDF
327.78 KB
04/06/2010 10-521 FAQ regarding the EU regulation on Credit Rating Agencies: Common positions agreed by CESR Members Q&A PDF
206.24 KB
03/06/2005 05-365 MAD AMPs- Frequently Asked Questions Q&A PDF
55.99 KB
12/01/2017 ESMA50-1215332076-23 Opinion on the impact of the exclusion of fund management companies from the scope of the MiFIR intervention powers Opinion PDF
224.29 KB
18/12/2014 2014/1378 Opinion- Investment-based crowdfunding Opinion PDF
460.92 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 this document.
29/05/2007 07-320 Q&A on Best Execution Q&A PDF
578.51 KB
01/04/2022 ESMA32-51-370 Q&A on ESMA Guidelines on Alternative Performance Measures , Q&A PDF
987.02 KB
11/04/2019 ESMA31-62-780 Q&A on Prospectus Related Topics , , , , , , Q&A PDF
957.9 KB
19/04/2010 10-293 Question and Answers- Understanding the definition of advice under MiFID Q&A PDF
335.78 KB
06/05/2010 10-591 Questions and answers on MiFID: Common positions agreed by CESR Members in the area of the Secondary Markets Standing Committee Q&A PDF
130.84 KB
03/11/2009 09-559 Questions and Answers- MiFID complex and non complex financial instruments for the purposes of the Directive’s appropriateness requirements Q&A PDF
405.18 KB
01/07/2015 2015/1005 Questions and Answers: Investment-based crowdfunding: money laundering/terrorist financing Q&A PDF
157.73 KB