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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 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.
21/05/2015 2015/856 Ann1 Investment-based crowdfunding- Insights from regulators in the EU Final Report PDF
319.65 KB
01/07/2015 2015/1005 Questions and Answers: Investment-based crowdfunding: money laundering/terrorist financing Q&A PDF
157.73 KB
18/12/2015 2015/1887 Follow-up report on the development of the Best Practice Principles for Providers of Shareholder Voting Research and Analysis , Final Report PDF
645.64 KB
15/03/2018 JC-2018-04 Joint Committee Final Report on Big Data Final Report PDF
520.31 KB
11/04/2019 ESMA31-62-780 Q&A on Prospectus Related Topics , , , , , , Q&A PDF
957.9 KB
30/03/2020 ESMA70-151-2919 Final Report EMIR RTS on Colleges for CCPs , , Final Report PDF
273.08 KB
31/03/2020 ESMA43-370-103 Final report on TA on EMIR 2.2 CCP fines , , , Final Report PDF
478.11 KB
18/12/2020 ESMA50-157-2403 Final report on Guidelines on outsourcing to cloud service providers Final Report PDF
384.63 KB
21/01/2021 ESMA70-151-2924 Guidelines on written agreements between members of CCP colleges Final Report PDF
347.58 KB
24/02/2021 ESMA70-151-3370 Final report on GL on Review_Evaluation EU CCP NCAs EMIR Art 21 Final Report PDF
428.18 KB
08/04/2021 ESMA70-151-3373 Final Report RTS Article 15 and 49 EMIR Final Report PDF
464.15 KB
31/01/2022 ESMA91-372-1700 Final report- Guidelines on Early Intervention Measures Final Report PDF
938.29 KB
31/01/2022 ESMA91-372-1701 Final report- Guidelines on CCP recovery plan scenarios Final Report PDF
554.85 KB
31/01/2022 ESMA91-372-1702 Final report- Guidelines on CCP recovery plan indicators Final Report PDF
527.18 KB
31/01/2022 ESMA91-372-1703 Final report- Draft RTS on recovery factors art 10(12) Final Report PDF
847.29 KB
31/01/2022 ESMA91-372-1704 Final report- Guidelines on restrictions following a non-default event Final Report PDF
691.51 KB
31/01/2022 ESMA91-372-1705 Final report- Draft RTS on conditions for recompense Final Report PDF
695.15 KB
31/01/2022 ESNA91-372-1706 Final report- Draft RTS on calculation and maintenance of own resources Final Report PDF
1.03 MB
17/03/2022 ESA 2022 15 EU financial regulators warn consumers on the risks of crypto-assets , , , Investor Warning PDF
118.67 KB
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