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|Date||Ref.||Title||Section||Type||Download||Info||Summary||Related Documents||Translated versions|
|07/10/2019||ESMA90-1-167||Update on the UK’s withdrawal from the European Union- preparations for a possible no-deal Brexit scenario on 31 October 2019||Benchmarks, Brexit, MiFID - Secondary Markets, MiFID II: Transparency Calculations and DVC||Statement||PDF
|11/01/2019||ESMA33-128-577||Statement on Securitisation implementation||Securitisation||Statement||PDF
|17/12/2021||ESMA81-459-36||Statement on Preparedness for the Cessation of EUR, GBP, CHF and JPY LIBORs and EONIA, and ceasing use of USD LIBOR in new contracts, at the end of 2021||Benchmarks||Statement||PDF
|09/12/2021||ESMA81-459-35||Statement from the EUR Risk Free Rates Working Group||Benchmarks||Statement||PDF
|13/05/2022||JC 2022 26||SFDR queries forwarded to the Commission||Joint Committee, Sustainable finance||Q&A||PDF
|25/05/2022||Joint Committee SFDR Q&As||Questions related to Regulation (EU) 2019/2088 on SFDR||Joint Committee, Sustainable finance||Q&A||PDF
|01/07/2015||2015/1005||Questions and Answers: Investment-based crowdfunding: money laundering/terrorist financing||Innovation and Products||Q&A||PDF
|19/11/2021||ESMA33-128-563||Questions and answers on the Securitisation Regulation||Securitisation||Q&A||PDF
|23/06/2022||ESMA70-145-114||Q&A on the Benchmarks Regulation (BMR)||Benchmarks, Supervisory convergence||Q&A||PDF
|28/06/2017||ESMA35-36-885||Product Intervention- General Statement||Innovation and Products, MiFID - Investor Protection||Statement||PDF
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 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.
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.
 ESMA/2016/1166 Warning about CFDs, binary options and other speculative products published 25 July 2016
|31/07/2014||2014/944||Potential Risks Associated with Investing in Contingent Convertible Instruments||Warnings and publications for investors, Innovation and Products||Statement||PDF
|The European Securities and Markets Authority (ESMA) is issuing this statement to clarify to institutional investors risks from a newly emerging asset class referred to by most market participants as contingent convertibles instruments (CoCos). If they work as intended in a crisis CoCos will play an important role to inhibit risk transfer from debt holders to taxpayers. They along with standards to improve the quality and quantity of bank capital reflect a considerate response to the former regulatory capital framework. However, it is unclear as to whether investors fully consider the risks of CoCos and correctly factor those risks into their valuation. ESMA believes there are specific risks to CoCos and that investors should take those risks into consideration prior to investing in these instruments.|
|07/03/2017||ESMA50-1623096732-432||Opening remarks Financial Innovation Day||Innovation and Products||Statement||PDF
|24/06/2021||Joint Statement LIBOR||Joint Public Statement USD LIBOR||Benchmarks||Statement||PDF
|25/02/2021||JC 2021 06||Joint ESAs supervisory statement- SFDR||Joint Committee, Sustainable finance||Statement||PDF
|17/12/2021||JC 2021 19||Joint Committee Q&As relating to the Securitisation Regulation||Securitisation||Q&A||PDF
|07/10/2019||ESMA70-155-8500||Impact of no-deal Brexit on the application of MiFID II/MiFIR and the Benchmark Regulation (BMR)||Benchmarks, Brexit, MiFID - Secondary Markets||Statement||PDF
|13/03/2018||ESMA70-143-30||First meeting of the Euro Risk Free Rate Working Group – Steven Maijoor concluding remarks||Benchmarks||Statement||PDF
|09/03/2020||ESMA80-199-332||ESMA Supervision- Annual Report 2019 and Work Programme 2020||Benchmarks, Credit Rating Agencies, Securities Financing Transactions, Securitisation, Trade Repositories||Annual Report||PDF
|14/03/2022||ESMA71-99-1864||ESMA Statement on Ukraine||Benchmarks, Board of Supervisors, CCP Directorate, Corporate Disclosure, Credit Rating Agencies, Fund Management, Market Abuse, Market Integrity, MiFID - Secondary Markets, Post Trading, Press Releases, Trade Repositories, Trading||Statement||PDF
|11/06/2020||ESMA32-334-245||ESMA response to EC Consultation on NFRD||Corporate Disclosure, Sustainable finance||Statement||PDF