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ESMA LIBRARY

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Date	Ref.	Title	Section	Type	Download	Info	Summary	Related Documents	Translated versions
10/09/2019	ESMA50-165-8	ESMA report on trends, risks and vulnerabilities no.2 2019	Risk Analysis & Economics - Markets Infrastructure Investors	Final Report	PDF 2.31 MB
28/02/2019	ESMA50-165-737	ESMA report on trends, risks and vulnerabilities no. 1 2019	Risk Analysis & Economics - Markets Infrastructure Investors	Final Report	PDF 2.24 MB
15/10/2018	ESMA31-62-1114	2017 Report on EEA prospectus activity	Corporate Finance	Final Report	PDF 385.45 KB
06/09/2018	ESMA 50-165-632	ESMA report on trends, risks and vulnerabilities 2, 2018	Risk Analysis & Economics - Markets Infrastructure Investors	Final Report	PDF 3.7 MB
13/07/2018	ESMA31-62-996	Consultation Paper on Guidelines on Risk Factors	Corporate Finance	Consultation Paper	PDF 833.24 KB
13/07/2018	ESMA31-62-962	Consultation Paper on minimum information content for prospectus exemption	Corporate Finance	Consultation Paper	PDF 1.6 MB
20/03/2018	ESMA50-165-538	ESMA report on trends, risks and vulnerabilities 1, 2018	Risk Analysis & Economics - Markets Infrastructure Investors	Final Report	PDF 3.24 MB
06/11/2017	ESMA50-165-416	Report on Trends, Risks and Vulnerabilities No.2 2017- correction	Risk Analysis & Economics - Markets Infrastructure Investors	Final Report	PDF 2.89 MB		ERRATUM - In TRV 2 2017, p.39 table V.3, the values in the last four rows of column five were accidentally misreported. For this reason, ESMA now provides a corrected version, including the corrected values and a footnote pointing to the initial mistake.
20/03/2017	ESMA50-165-279	Report on Trends, Risks and Vulnerabilities No.1, 2017	Risk Analysis & Economics - Markets Infrastructure Investors	Final Report	PDF 2.73 MB
30/08/2016	2016/1234	Report on Trends, Risks and Vulnerabilities No.2, 2016	Risk Analysis & Economics - Markets Infrastructure Investors	Final Report	PDF 3.07 MB
02/06/2016	2016/773	Discussion Paper on the Distributed Ledger Technology Applied to Securities Markets	Innovation and Products, Risk Analysis & Economics - Markets Infrastructure Investors	Consultation Paper	PDF 573.86 KB
17/03/2016	2016/348	Report on Trends, Risks and Vulnerabilities No.1, 2016	Risk Analysis & Economics - Markets Infrastructure Investors	Final Report	PDF 3.13 MB
22/12/2015	2015/WP/2015/2	Working Paper No.2, 2015 “Monitoring systemic risk in the hedge fund sector”	Risk Analysis & Economics - Markets Infrastructure Investors	Final Report	PDF 872.37 KB		The working paper proposes new measures for systemic risk in the hedge fund sector. These measures are based on the ability of hedge funds to influence (be influenced by) the performance trend of the entire hedge fund sector. The proposed measures display a high ability to identify periods of financial distress, are robust to modifications in the underlying econometric model and deliver an innovation in the monitoring of systemic risks in the fund industry.
18/12/2015	2015/1887	Follow-up report on the development of the Best Practice Principles for Providers of Shareholder Voting Research and Analysis	Corporate Finance, Corporate Governance	Final Report	PDF 645.64 KB			2015-1871.pdf
14/09/2015	2015/1290	Report on Trends, Risks and Vulnerabilities No.2, 2015	Risk Analysis & Economics - Markets Infrastructure Investors	Final Report	PDF 2.88 MB
05/05/2015	JC/2015/007	Joint Committee Report on Risks and Vulnerabilities in the EU Financial System	Risk Analysis & Economics - Markets Infrastructure Investors, Joint Committee	Final Report	PDF 692.05 KB		The Joint Committee of the European Supervisory Authorities (ESAs) published its fifth Report on Risks and Vulnerabilities in the EU Financial System. Overall, the report found that in the past six months, risks affecting the EU financial system have not changed in substance, but have further intensified. The EU’s economic performance improved slightly in early 2015, however the financial sector in general continues to be affected by a combination of factors such as low investment demand, economic uncertainty in the Eurozone and its neighbouring countries, a global economic slow-down and a low-interest rate environment. The main risks affecting the financial system remain broadly unchanged from those identified in the report’s previous edition, but have become more entrenched. The major risks include: • Low growth, low inflation, volatile asset prices and their consequences for financial entities; • Search for yield behaviour exacerbated by potential rebounds; • Deterioration in the conduct of business; and • Increased concern about IT risks and cyber-attacks.
11/03/2015	2015/527	ESMA Risk Dashboard No 1 2015	Risk Analysis & Economics - Markets Infrastructure Investors	Final Report	PDF 798.36 KB
11/03/2015	2015/526	Report on Trends, Risks and Vulnerabilities No 1 2015	Risk Analysis & Economics - Markets Infrastructure Investors	Final Report	PDF 2.59 MB
17/12/2014	ECO-2014/1	ESMA's Economic Report No 1, 2014- High-frequency trading activity in EU equity markets	Risk Analysis & Economics - Markets Infrastructure Investors	Final Report	PDF 1.87 MB
14/11/2014	2014/1341	ESMA Risk Dashboard No. 4, 2014	Risk Analysis & Economics - Markets Infrastructure Investors	Final Report	PDF 766.77 KB		The European Securities and Markets Authority (ESMA) has today published its Risk dashboard for the third quarter of 2014. ESMA’s Risk Dashboard assess the risks associated to European financial markets looking into liquidity, market, contagion and credit risks. The Dashboard finds that in 3Q14 EU systemic stress indicators increased, after experiencing a calm 2Q14. Contagion risk augmented and liquidity and market risk remained on high levels, with potential for further increases ahead. Credit risk receded though remaining at a high level. Overall, market sentiment continued to be at odds with sluggish economic fundamentals and guarded expectations. An environment of ultra-low interest rates supported markets and preserved the current hunt-for-yield behaviour of investors. However, markets recognised resulting new balance sheet risks, as risk spreads increased, equity valuation moderated and expectations for future short-term interest rates fanned out. Due to these offsetting forces liquidity risk and market risk remained stable, preserving the risk of critical market corrections for the future. The systemic impact of such corrections could be exacerbated by liquidity bottlenecks, such as might arise from structural factors such as thin dealer markets or rising collateral requirements.