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Date Ref. Title Section Type Download Info Summary Related Documents Translated versions
30/11/2018 ESMA71-99-1070 Developments in RegTech and SupTech , Speech PDF
228.76 KB
12/10/2018 ESMA71-99-1051 Financial Technology: ESMA’s Approach- Speech at the 4th Luxembourg FinTech Conference Speech PDF
310.13 KB
19/09/2018 ESMA71-99-1036 Steven Maijoor Keynote New technologies within and beyond capital markets , Speech PDF
163.18 KB
15/03/2018 JC-2018-04 Joint Committee Final Report on Big Data Final Report PDF
520.31 KB
27/02/2018 ESMA71-319-70 Afore Consulting’s Second Annual FinTech and Digitalisation Conference: Regulation at the European Level and Beyond – Stanhope Hotel Brussels , Speech PDF
168.3 KB
19/07/2017 ESMA50-164-820 Regulatory Technology: Reshaping the Supervisor-Market Participant Relationship , Speech PDF
251.54 KB
18/05/2017 pkaspeech Speech by Patrick Armstrong on The Adoption of RegTech within the Financial Services Industry Speech PDF
255.17 KB
23/01/2017 ESMA71-844457584-330 Speech by Patrick Armstrong- FinTech, Oslo Børs ASA Conference, 18 January 2017 , Speech PDF
181.84 KB
24/11/2016 2016/1613 Regulation and DLT: Working to Strike the Right Balance , Speech PDF
164.72 KB
30/09/2016 2016/1420 Financial Technology: The Regulatory Tipping Points , Speech PDF
273.28 KB
07/03/2016 2016/345 Financial Innovation towards a balanced regulatory response- Speech by V. Ross , Speech PDF
138.83 KB
07/01/2016 2015/1915 Closing Speech by V Ross, ESMA FI Day Speech PDF
100.54 KB
07/01/2016 2015/1912 Opening Speech by J Servais, President of FSMA Speech PDF
162.44 KB
29/10/2015 2015/1615 Steven Maijoor speech at ECN , Speech PDF
261.75 KB
21/05/2015 2015/856 Ann1 Investment-based crowdfunding- Insights from regulators in the EU Final Report PDF
319.65 KB
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.