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Date Ref. Title Section Type Download Info Summary Related Documents Translated versions
25/03/2020 ESMA32-63-951 Accounting implications of the COVID-19 outbreak on the calculation of expected credit losses in accordance with IFRS 9 , Statement PDF
135.91 KB
09/04/2020 ESMA34-45-896 Actions to mitigate the impact of COVID-19 on the deadlines for the publication of periodic reports by fund managers , Statement PDF
113.03 KB
09/04/2020 ESMA80-187-546 Actions to mitigate the impact of COVID-19 on the EU financial markets regarding the timeliness of fulfilling external audit requirements for interest rate benchmarks under the Benchmarks Regulation , Statement PDF
89.31 KB
31/03/2020 ESMA35-36-1919 Clarification of issues related to the publication of reports by execution venues and firms as required under RTS 27 and 28 , Statement PDF
89.84 KB
26/03/2020 ESMA80-191-995 COVID-19 Public Statement , Statement PDF
113.93 KB
09/04/2020 ESMA70-155-9817 ESMA postpones the publication dates of the annual transparency calculations for non-equity instruments and for the quarterly systematic internaliser data for non-equity instruments other than bonds , , Statement PDF
94.58 KB
20/03/2020 ESMA35-43-2348 ESMA Statement on COVID-19 telephone recording , Statement PDF
114.12 KB
11/03/2020 ESMA71-99-1290 ESMA Statement on Markets and COVID-19 , Statement PDF
87.99 KB
14/05/2020 ESMA50-158-2232 ESMA supports ESRB actions to address COVID-related systemic vulnerabilities , Statement PDF
81.33 KB
19/02/2013 2013/84 Feedback statement on the consultation regarding the role of the proxy advisory industry , Statement PDF
559.31 KB
20/05/2020 ESMA32-63-972 Implications of the COVID-19 outbreak on the half-yearly financial reports , Statement PDF
111.97 KB
12/11/2013 2013/1642 Information on shareholder cooperation and acting in concert under the Takeover Bids Directive , Statement PDF
321.63 KB
The European Securities and Markets Authority (ESMA) has published a statement on practices governed by the Takeover Bid Directive (TBD), focused on shareholder cooperation issues relating to acting in concert and the appointment of board members. The statement contains a White List of activities that shareholders can cooperate on without the presumption of acting in concert. It also contains information on how shareholders may cooperate in order to secure board member appointments by setting out factors that national authorities may take into account when considering whether shareholders are acting in concert. The statement is in response to a request by the European Commission for clarity on these issues, following its 2012 report on the application of the TBD. It is based on information collected about the TBD’s application and common practices across the European Economic Area (EEA). The statement was prepared by the Takeover Bids Network, a permanent working group, under ESMA’s auspices, that promotes the exchange of information on practices and application of the TBD across EEA.
27/02/2020 ESMA/2014/677-REV Information on shareholder cooperation and acting in concert under the Takeover Bids Directive , Statement PDF
416.26 KB

The European Securities and Markets Authority (ESMA) has published an update to its statement on practices governed by the Takeover Bid Directive (TBD), focused on shareholder cooperation issues relating to acting in concert and the appointment of board members. The update concerns a change to the Croatian creep-in threshold and secondary threshold in Appendix B. The statement contains a White List of activities that shareholders can cooperate on without the presumption of acting in concert. It also contains information on how shareholders may cooperate in order to secure board member appointments by setting out factors that national authorities may take into account when considering whether shareholders are acting in concert.The statement is in response to a request by the European Commission for clarity on these issues, following its 2012 report on the application of the TBD. It is based on information collected about the TBD’s application and common practices across the European Economic Area (EEA). The statement was prepared by the Takeover Bids Network, a permanent working group, under ESMA’s auspices, that promotes the exchange of information on practices and application of the TBD across EEA.

18/03/2020 ESMA70-155-9581 Opinion on AMF emergency measure under SSR , , Opinion PDF
253.85 KB
15/04/2020 ESMA70-155-9854 Opinion on AMF emergency measure under the SSR , , Opinion PDF
304.63 KB
17/03/2020 ESMA70-155-9556 Opinion on CNMV emergency measure under SSR , , Opinion PDF
173.98 KB
15/04/2020 ESMA70-155-9845 Opinion on CNMV emergency measure under the SSR , , Opinion PDF
302.98 KB
17/03/2020 ESMA70-155-9565 Opinion on CONSOB emergency measure under SSR , , Opinion PDF
346.47 KB
24/03/2020 ESMA70-155-9604 Opinion on FMA emergency measure under the SSR , , Opinion PDF
265.61 KB
15/04/2020 ESMA70-155-9848 Opinion on FMA emergency measure under the SSR , , Opinion PDF
432.15 KB