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Date Ref. Title Section Type Download Info Summary Related Documents Translated versions
31/10/2019 ESMA31-62-1360 EEA prospectus activity in 2018 Report PDF
394.26 KB
05/09/2019 ESMA50-164-2458 Stress simulation for investment funds , Report PDF
868.55 KB
04/04/2019 ESMA34-45-651 UCITS Sanction Report 2016/2017 Report PDF
398.96 KB
03/07/2017 ESMA31-62-746 EEA prospectus activity in 2016 , Report PDF
475.66 KB
07/04/2017 ESMA34-43-340 Notification frameworks and home-host responsibilities under UCITS and AIFMD- ESMA Thematic Study among National Competent Authorities Report PDF
895.97 KB

One of the key objectives of ESMA is to foster and increase supervisory convergence across NCAs. Thematic studies have been identified as a means of achieving this objective. Their aim is to review supervisory practice in the Member States, identifying good or best practices where possible. In 2016, ESMA conducted a thematic study on the operation of home and host responsibilities under AIFMD and UCITS with a view to promoting smooth operation of the EU passports for marketing and management, looking at the notification frameworks contained in the UCITS Directive and AIFMD. The findings of the thematic study form the core of this report. They are supplemented, where possible, by a number of recommendations on good supervisory practices.

28/07/2016 2016/1170 Report on EEA prospectus activity in 2015 , Report PDF
674.63 KB
31/03/2016 2016/411 Guidelines on sound remuneration policies under the UCITS Directive and AIFMD Report PDF
1.39 MB

Article 14a(4) of Directive 2009/65/EC (“UCITS Directive”), as amended by Directive 2014/91/EU (“UCITS V Directive”) provides that ESMA shall issue guidelines addressed to competent authorities or financial market participants concerning the application of the remuneration principles set out under Article 14b of the UCITS Directive (“UCITS Remuneration Guidelines”). This final report sets out the final text of the guidelines on remuneration policies required by the UCITS V Directive and also provides for a targeted revision of the Guidelines on sound remuneration policies under the AIFMD (ESMA/2013/232) (“AIFMD Remuneration Guidelines”), which were originally published on 3 July 2013.

16/02/2016 2016/297 Follow-up MMF , Report PDF
882.13 KB
18/09/2015 2015/1409 Draft Implementing Technical Standards on penalties and measures under Directive 2009/65/EC (UCITS Directive) Technical Standards PDF
339.52 KB
20/02/2014 2014/161 Draft implementing technical standards on notification- EuSEF Technical Standards PDF
29.18 KB
20/02/2014 2014/160 Draft implementing technical standards on notification- EuVECA Technical Standards PDF
175.99 KB
20/12/2013 2013/1970 Draft Regulatory Technical Standards on specific situations that require the publication of a supplement to the prospectus , Technical Standards PDF
713.74 KB
The Final Report contains the draft Regulatory Technical Standard (RTS) on situations which require the publication of a supplement to the prospectus which ESMA is required to submit to the European Commission by 1 January 2014 in accordance with Article 16(3) of the Prospectus Directive. The Report furthermore includes a summary of the main responses received to ESMA’s Consultation Paper which was published in March 2013. The draft RTS sets out nine situations which are always considered to be significant in the context of securities issuance and where a supplement to the prospectus will always be required. Other situations would require a case-by-case assessment.
10/06/2013 2013/619 Annex II Comparative table of responses from EEA States Report PDF
2.15 MB
10/06/2013 2013/619 Annex III Individual responses from EEA States Report PDF
2.63 MB
02/04/2013 2013/413 Final Report- Draft regulatory technical standards on types of AIFMs Technical Standards PDF
116.08 KB
The European Securities and Markets Authority (ESMA) has published its draft regulatory technical standards (RTS) to determine types of alternative investment fund managers (AIFMs), where relevant in the application of the AIFMD.  The draft RTS distinguish AIFMs managing alternative investment funds (AIF) of the open-ended type and AIFMs managing AIFs of the closed-ended type, in order to apply the rules on liquidity management, the valuation procedures and the transitional provisions of the AIFMD.  ESMA was required to develop these RTS by Article 4(4) of the AIFMD and they are aimed at ensuring uniform conditions of application of the AIFMD across the European Union.