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Date Ref. Title Section Type Download Info Summary Related Documents Translated versions
04/04/2019 ESMA34-45-651 UCITS Sanction Report 2016/2017 Report PDF
398.96 KB
17/11/2017 ESMA34-49-103 Technical advice, draft implementing technical standards and guidelines under the MMF Regulation Final Report PDF
989.54 KB
03/04/2018 ESMA31-62-800 Technical advice under the Prospectus Regulation Final Report PDF
4.7 MB
02/10/2013 2013/1374 Technical advice on third country regulatory equivalence under EMIR – Switzerland (Supplement) Final Report PDF
117.72 KB
02/10/2013 2013/1370 Technical advice on third country regulatory equivalence under EMIR – India Final Report PDF
2.44 MB
02/10/2013 2013/1375 Technical advice on third country regulatory equivalence under EMIR – Canada Final Report PDF
1.39 MB
09/12/2019 ESMA70-151-2820 Supervisory measures and Penalties under Articles 4, 9, 10 and 11 of EMIR   , Report PDF
819.71 KB
04/06/2020 ESMA34-39-1042 Supervisory briefing on the supervision of costs in UCITS and AIFs , Report PDF
162.41 KB
05/09/2019 ESMA50-164-2458 Stress simulation for investment funds , Report PDF
868.55 KB
05/04/2016 2016/429 Review of Article 26 of RTS No 153/2013 with respect to MPOR for client accounts Final Report PDF
217.11 KB

Reasons for publication
This final report proposes amending Article 26 of the Commission Delegated Regulation No 153/2013 with regard to regulatory technical standards (RTS) on requirements for central counterparties (CCP) on the time horizons for the liquidation period which European Securities and Markets Authority (ESMA) has drafted under the Regulation (EU) No 648/2012 of the European Parliament and Council on Over-The-Counter (OTC) derivatives, central counterparties and trade repositories (EMIR).

In relation to the draft amended technical standards, ESMA consulted stakeholders on two occasions: the first consultation on a Discussion Paper (DP) was conducted from 27 August to 30 September 2015; the second, on the consultation paper (CP) including the proposed draft RTS was carried out from 14 December 2015 to 1st February 2016.

ESMA received a strong support from the respondents to the CP on the proposed amendment introducing the possibility for EU CCPs to margin on a one day gross basis for clients’ accounts. The responses to the consultation confirm that a one day gross account structure provides a sufficient level of protection to the CCPs and to the clients.

On the proposed conditions linked to this type of account, the majority of the respondents are of the view that they are needed to ensure the safety of the CCPs. Some clarifications or slight amendments have been introduced following the comments received, in particular on intraday margins calls and on entities belonging to the same group as clearing members.

Contents
This paper provides explanations on the draft regulatory technical standards amending the Commission Delegated Regulation No 153/2013 with regard to RTS on requirements for CCP. This report explains the rationale and the scope of the review of Article 26 of RTS No 153/2013 carried out by ESMA. It summarizes the answers received following the publication of the consultation paper and it provides the explanations on whether and how the concerns expressed by stakeholders have been reflected in the final draft RTS.
Annexed to this final report are the legislative mandates related to the draft RTS (Annex I), the ESMA cost-benefit-analysis (Annex II) and the draft RTS (Annex III).

Next Steps
Following the submission of the amended draft RTS to the European Commission, it has three months to decide whether to endorse ESMA’s draft RTS.

28/03/2011 2011/22 Report- ESMA Data on Prospectuses Approved and Passported- July 2010 to December 2010 , Final Report PDF
134.79 KB
03/01/2013 2012/874 Report to the European Parliament, the Council and the Commission on the budgetary implications of Regulation (EU) No 648/2012 on OTC derivatives, central counterparties and trade repositories (EMIR) Final Report PDF
526.73 KB
12/07/2019 ESMA50-164-2430 Report on the Licensing of FinTech business models Report PDF
585.36 KB
18/01/2017 ESAS-2017-82 Report on the functionning of the CRR with the related obligations under EMIR Report PDF
602.75 KB
13/06/2018 ESMA70-151-1400 Report on supervisory measures and penalties under EMIR Report PDF
605.66 KB
28/07/2016 2016/1170 Report on EEA prospectus activity in 2015 , Report PDF
674.63 KB
31/03/2014 2014/03/ODRG Report of the OTC Derivatives Regulators Group (ODRG) on Cross-Border Implementation Issues Final Report PDF
159.11 KB
25/07/2012 2012/474 Report and consultation paper on guidelines on ETFs and other UCITS issues Final Report PDF
728.1 KB
This paper sets out ESMA’s guidelines on ETFs and other UCITS issues. The guidelines are adapted to the type of UCITS, management technique or financial instrument in question and are detailed in Annex III of the documentThis document also sets out in Annex IV a public consultation on the treatment of repo and reverse repo arrangements on which ESMA is seeking feedback from stakeholders. The feedback to this further consultation will be used by ESMA to finalise its position on this specific issue, which will be incorporated into the rest of the guidelines already adopted by the Authority (cf. Annex III of this document).
01/03/2016 2016/328 Possible systemic risk and cost implications of interoperability arrangements Final Report PDF
521.89 KB
12/12/2019 ESMA34-45-756 Penalties and measures imposed under the UCITS Directive in 2018 Report PDF
467.36 KB

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