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Date Ref. Title Section Type Download Info Summary Related Documents Translated versions
01/10/2014 2014/1200 2015 Work Programme , , Reference PDF
500.54 KB
The European Securities and Markets Authority (ESMA) has published its Work Programme for 2015. The programme sets out how ESMA intends to achieve its statutory objectives of investor protection and stable and orderly functioning markets through its operational activities of convergence, risk monitoring and analysis, the single rulebook and supervision. The projected work programme is based on a budget of €38,639,000 and a staff base of 202 people as per the budget approved by ESMA’s Board of Supervisors on 6 February 2014 and subsequently submitted to the EU institutions. At the time of drafting, the budget prepared by the European Commission and sent to the EU Council and Parliament for ESMA in 2015 is for €33,627,920 and 186 people. In order to prepare for the eventuality that ESMA will receive fewer posts than planned for in the work programme, Annex 5 contains a list of the areas of work that ESMA would be unable to accomplish in 2015 with reduced resources.
27/01/2017 ESMA20-839860843-411 2017 Regulatory Work Programme , Reference PDF
80.05 KB
07/02/2018 ESMA20-95-823 2018 Regulatory Work Programme , , , Reference PDF
251.91 KB
01/12/2017 ESMA22-106-484 2018 SMSG application form , Reference DOCX
39.24 KB
03/10/2018 ESMA20-95-933 2019 Work Programme , , Reference PDF
470.98 KB
01/10/2019 ESMA20-95-1132 2020 Work Programme , , , Reference PDF
543.97 KB
23/05/2008 08-003 Finnish A Consumer's guide to MiFID- Investing in Financial products- Finnish translation Reference PDF
1 MB
01/09/2008 08-003 Icelandic A Consumer's guide to MiFID- Investing in Financial products- Icelandic translation Reference PDF
554.96 KB
26/08/2008 08-003 German A Consumer's guide to MiIFD- Investing in Financial products- German translation Reference PDF
380.1 KB
30/09/2008 08-003 Lithuanian A Consumer's guide to MiIFD- Investing in Financial products- Lithuanian translation Reference PDF
3.22 MB
31/07/2008 08-003 Maltese A Consumer's guide to MiIFD- Investing in Financial products- Maltese translation Reference PDF
1.24 MB
07/03/2008 08-003 A Consumers' Guide to MiFID- Investing in Financial Products Reference PDF
563.13 KB
07/03/2008 08-003 Dutch A Consumers' Guide to MiFID- Investing in Financial Products- Dutch translation Reference PDF
245.93 KB
07/03/2008 08-003 French A Consumers' Guide to MiFID- Investing in Financial Products- French translation Reference PDF
240.21 KB
07/03/2008 08-003 HU A Consumers' Guide to MiFID- Investing in Financial Products- Hungarian translation Reference PDF
281.74 KB
07/03/2008 08-003 ES A Consumers' Guide to MiFID- Investing in Financial Products- Spanish Translation Reference PDF
2.35 MB
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.
07/03/2017 FI17 Agenda Financial Innovation Day 2017 Reference PDF
598.1 KB
07/01/2016 2015/1914 Agenda for ESMA FI Day Reference PDF
170.52 KB
24/05/2018 ESMA71-99-981 Anneli Tuominen VC reappointment , Press Release PDF
208.13 KB

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