ESMA LIBRARY

The ESMA Library contains all ESMA documents. Please use the search and filter options to find specific documents.
22
DOCUMENTS

REFINE YOUR SEARCH

Sections

Type of document

Your filters
Vacancy X Press Release X Opinion X Procurement X Securitisation X Warnings and publications for investors X Securities and Markets Stakeholder Group X
Reset all filters
Date Ref. Title Section Type Download Info Summary Related Documents Translated versions
09/03/2020 ESMA71-99-1287 ESMA Supervision WP 2020 , , , , , Press Release PDF
130.42 KB
14/02/2020 ESMA71-99-1282 ESMA seeks candidates for its stakeholder group , Press Release PDF
92.77 KB
17/01/2020 ESMA71-99-1275 Press Release- ESMA Consultation on Securitisation Reporting Data , Press Release PDF
98.8 KB
28/10/2019 ESMA22-106-1990 SMSG Opinion on ESMA's Report on performance and cost of retail investment products Opinion PDF
148.41 KB
31/01/2019 ESMA33-128-600 ESMA Opinion on securitisation RTS Opinion PDF
4.02 MB
04/12/2018 ESMA71-99-1069 ESMA appoints a new Securities and Markets Stakeholder Group Press Release PDF
162.11 KB
31/10/2018 ESMA22-106-1296 SMSG Opinion on EC request to ESAs on cost and performance of retail investment, insurance and pension products Opinion PDF
152.91 KB
05/09/2018 ESMA70-151-1651 On the European Commission’s proposed amendments to SFTR Opinion PDF
405.72 KB
05/07/2018 ESMA71-99-999 SMSG Renewal July 2018 Press Release , Press Release PDF
146.18 KB
01/06/2018 ESMA71-99-973 ESMA71-99-973 Press Release Product Intervention EUOJ publication , , Press Release PDF
241.5 KB
30/05/2018 ESMA71-99-987 PR on EBA-ESMA statement on retail holders of bail-inable instruments , , Press Release PDF
281.95 KB
19/12/2017 ESMA71-99-916 ESMA consults on securitisation requirements , Press Release PDF
150.34 KB
13/11/2017 ESMA71-99-649 Press Release ICO Statements , , Press Release PDF
169.52 KB
01/07/2016 2016/1066 ESMA appoints new Securities and Markets Stakeholder Group , Press Release PDF
156.76 KB

The European Securities and Markets Authority (ESMA) has published the new list of members of its Securities and Markets Stakeholder Group (SMSG) following its approval by its Board of Supervisors. The selected individuals begin a 2½ year term on 1 July 2016 and will replace the group whose mandate expired on 30 June 2016.

The new SMSG will be composed of 30 individuals drawn from across 13 Member States and representing ESMA’s key stakeholder constituencies – financial market participants (10), employee representatives (2), consumer representatives (6), users of financial services (3), small and medium sized enterprises (2) and academics (7). The new SMSG will feature 27 new members. A number of the incoming members have served in the previous SMSG.

The SMSG was established according to ESMA’s founding regulation and facilitates consultation between ESMA and its key financial market stakeholders on its work. The SMSG provides ESMA with opinions and advice on its policy work and must be consulted on technical standards and guidelines and recommendations. Additionally, it can inform ESMA of any inconsistent application of European Union law as well as inconsistent supervisory practices in Member States.

03/12/2015 2015/1835 ESMA seeks candidates for its stakeholder representative group , Press Release PDF
88.54 KB
25/02/2014 2014/225 ESMA Stakeholder Group elects Chair and Vice-Chairs , Press Release PDF
69.4 KB
ESMA Stakeholder Group elects Chair and Vice-Chairs The Securities and Markets Stakeholder Group (SMSG) of the European Securities and Markets Authority (ESMA) has elected Jesper Lau Hansen as its new Chair, and Judith Hardt and Peter De Proft, as its Vice-Chairs. The election took place at the first meeting of its new membership on 29 January 2014, following their appointment by ESMA’s Board of Supervisors in November 2013. The new Chair, Dr. Jesper Lau Hansen, is currently Professor of Company Law and Financial Markets Law at Copenhagen University and represents the academic constituency. The two Vice-Chairs, Judith Hardt, Director General, Federation of European Stock Exchanges (FESE), and Peter De Proft, Director General, European Fund and Asset Management Association (EFAMA), represent financial market participants. Dr. Jesper Lau Hansen, SMSG Chair, said: “I look forward to chairing the SMSG and, together with the Vice-Chairs, representing all securities markets stakeholders by ensuring that those who are directly affected by ESMA’s regulations have their voice heard in their preparation.” Mr. Peter De Proft, SMSG Vice-Chair said: “I am honoured to be appointed Vice Chair of this group for a second term, together with my colleague and Vice Chair, Judith Hardt and looking forward to working as a team with the Chair. “Our mandate is straightforward, but crucial. We must continue to ensure ongoing engagement with industry stakeholders. We are there to provide timely and insightful advice for ESMA and to support them in their mission of protecting investors while promoting stable and well-functioning financial markets in the European Union”. Ms. Judith Hardt, SMSG Vice-Chair said: “The securities markets stakeholder group has a strategic role to play in advising ESMA on the implementation of level 1 measures. Our priority is to help the group formulate timely and useful advice for ESMA at a critical time. I look forward to working together with the Chair and my colleague Peter De Proft.” The SMSG Chair and Vice-Chairs will serve for a period of 2½ years to coincide with the Group’s mandate.
07/02/2014 2014/152 ESMA tells firms to improve their selling practices for complex financial products , Press Release PDF
92.57 KB
The European Securities and Markets Authority (ESMA) has published an Opinion on practices to be observed by investment firms when selling complex financial products to investors. ESMA is issuing this opinion to remind national supervisors and investment firms about the importance of requirements governing selling practices under MiFID (Markets in Financial Instruments Directive).ESMA is issuing this Opinion as it is concerned that firms’ compliance with the MiFID selling practices when selling complex products may have fallen short of expected standards. The concerns relate mainly to the suitability and appropriateness of complex products that are increasingly within the grasp of retail investors. The Opinion sets out ESMA’s minimum expectations with respect to the conduct of firms when selling complex products to retail investors.Steven Maijoor, ESMA Chair, said: “Investment firms increasingly sell complex financial products such as warrants, different types of structured bonds, derivatives and asset-backed securities, which were previously accessible mainly to professional investors, to retail investors.“ESMA is concerned that this trend greatly increases the risk that customers do not understand the risks, costs and expected returns of the products they are buying. Therefore, we believe that it is crucial that investment firms act responsibly and in the best interest of their clients.“The level of concern regarding the risk posed by these products to investor protection when MiFID rules are not fully respected is such that we have also issued an EU-wide warning to investors in order to raise awareness about the risks arising from investing in these types of complex products.” The marketing and sale of complex financial products, in particular to retail investors, is an important investor protection area where ESMA wants to ensure a consistent approach to the application of the MiFID conduct business rules - thereby improving supervisory convergence.The areas covered by the Opinion relate to: firms’ organisation and internal controls; the assessment of the suitability or appropriateness of certain products; disclosures and communications in relation to products; and compliance monitoring of the sales functions.
07/02/2014 2014/146 MiFID practices for firms selling complex products , Opinion PDF
122.37 KB
12/12/2013 2013/1909 ESMA appoints new Securities Markets Stakeholders Group members , Press Release PDF
108.69 KB
ESMA appoints new Securities Markets Stakeholders Group members The European Securities and Markets Authority (ESMA) has announced the composition of its Securities Markets Stakeholder Group (SMSG) following its approval by ESMA’s Board of Supervisors. These individuals will begin a term of 2½ years on 1 January 2014 and will replace the group whose mandate expires on 31 December 2013. The new SMSG will be composed of 30 individuals drawn from across 17 Member States and representing ESMA’s key stakeholder constituencies – consumer representatives (4), users of financial services (5), financial market participants (10), financial institution employees (2), small and medium sized enterprises (1) and academics (8). A number of the incoming members have previously served in the first SMSG. The SMSG was set up to facilitate consultation with key financial market stakeholders on all aspects of ESMA’s work. The SMSG provides ESMA with opinions and advice on policy workstreams and must be consulted on technical standards and guidelines and recommendations. In addition, the Stakeholder Group is expected to notify ESMA of any inconsistent application of European Union law as well as inconsistent supervisory practices in the Member States. Steven Maijoor, ESMA Chair, said: “The SMSG makes an important contribution to ESMA’s policy development, providing us with timely and valuable input on how our regulatory activities may potentially affect the different users of financial markets. “We have enjoyed a very good working relationship with the outgoing members of the SMSG who, as well as contributing their views and experience to our policymaking discussions, have been pioneers in developing the role of their group as part of the new European System of Financial Supervision. I look forward to working with the SMSG’s new members on a host of challenging issues.” The SMSG meets at least four times a year, and in addition meets twice with ESMA’s Board of Supervisors. Their advice and opinions are published on ESMA’s website.
28/06/2013 2013/845 Joint Committee of ESAs holds its first Consumer Protection Day Press Release PDF
153.3 KB