ESMA LIBRARY

The ESMA Library contains all ESMA documents. Please use the search and filter options to find specific documents.
73
DOCUMENTS

REFINE YOUR SEARCH

Sections

Type of document

Your filters
Securitisation X Market Integrity X Post Trading X Fund Management X Board of Appeal X Vacancies X Brexit X Press Release X
Reset all filters

Pages

Date Ref. Title Section Type Download Info Summary Related Documents Translated versions
14/04/2011 2011/118 Press release- ESMA sets out guidelines on risk measurement and the calculation of global exposure for certain types of structured UCITS , Press Release PDF
31.34 KB
15/04/2011 2011/123 Press release- ESMA seeks preliminary views on future rules for alternative investment fund managers , Press Release PDF
39.69 KB
13/07/2011 2011/214 Press release- ESMA seeks views on future rules for alternative investment fund managers , Press Release PDF
58.32 KB
22/07/2011 2011/221 Press release- ESMA seeks preliminary views on the potential shape of future regulation of exchange-traded funds and structured UCITS , Press Release PDF
33.85 KB
23/08/2011 2011/271 Press release- ESMA consults on future rules for alternative investment fund managers and the treatment of third country entities , Press Release PDF
64.05 KB
03/11/2011 JC 2011/094 Press release- ESMA, EBA and EIOPA appoint members of Joint Board of Appeal , , Press Release PDF
24.72 KB
16/11/2011 2011/378 Press release- ESMA details future rules for alternative investment fund managers , Press Release PDF
61.82 KB
30/01/2012 2012/43 ESMA outlines future regulatory framework for ETFs and other UCITS issues , Press Release PDF
146.49 KB
ESMA publishes today a consultation paper (ESMA/2012/44) setting out future guidelines on UCITS Exchange-Traded Funds (UCITS ETFs) and other UCITS-related issues. The proposals cover both synthetic and physical UCITS ETFs and detail the obligations to come for UCITS ETFs, index-tracking UCITS, efficient portfolio management techniques, total return swaps and strategy indices for UCITS. ESMA’s proposals therefore go wider than ETFs and cover such areas as the use of total return swaps by any UCITS, for which ESMA envisages additional obligations with respect to the collateral to be provided, or UCITS investing in strategy indices, where the requirements on eligibility of such indices have been tightened. The proposals also include placing an obligation on UCITS ETFs to use an identifier and facili-tating the ability of investors to redeem their shares, whether in the secondary market or directly with the ETF provider.
28/06/2012 2012/441 ESMA proposes remuneration guidelines for alternative investment fund managers , Press Release PDF
183.45 KB
The European Securities and Markets Authority (ESMA) has published today a consultation paper on proposed Guidelines on remuneration of alternative investment fund managers (AIFMs).  ESMA’s future guidelines will apply to managers managing alternative investment funds (AIFs) including hedge funds, private equity funds and real estate funds.  These funds will be asked to introduce sound and prudent remuneration policies and structures with the aim of increasing investor protection and avoiding conflicts of interest that may lead to excessive risk taking.
25/07/2012 2012/475 ESMA publishes ETF guidelines and consults on repo arrangements , Press Release PDF
119.34 KB
The European Securities and Markets Authority (ESMA) has today published guidelines on Exchange-Traded Funds (ETFs) and other UCITS issues.  These guidelines will apply to national securities markets regulators and UCITS management companies.ESMA is also seeking views on the appropriate treatment of repo and reverse repo arrangements in the context of the guidelines on ETFs and other UCITS issues.
03/12/2012 2012/798 EU and Swiss regulators to co-operate on cross-border supervision of alternative investment funds , Press Release PDF
319.88 KB
04/12/2012 2012/801 ESMA finalises guidelines on repo arrangements for UCITS funds , Press Release PDF
105.28 KB
Date: 04 December 2012ESMA/2012/801PRESS RELEASEESMA finalises guidelines on repo arrangements for UCITS fundsThe European Securities and Markets Authority (ESMA) has today published its final guidelines on repurchase and reverse repurchase agreements for UCITS funds.  The guidelines state that UCITS should only enter into such agreements if they are able to recall at any time any assets or the full amount of cash.Key elements of the guidelines are:•    For repurchase arrangements, UCITS should be able to recall at any time the assets subject to such arrangements; •    For reverse repurchase agreements, UCITS should be able to recall at any time the full amount of cash on either an accrued or a mark-to-market basis.  However, when cash is recalled on a mark-to-market basis, the mark-to-market value of the reverse repurchase agreements should be used for the calculation of the net asset value of the UCITS; and•    ESMA considers fixed-term repurchase and reverse repurchase agreements that do not exceed seven days as arrangements that allow the assets to be recalled at any time by the UCITS.The guidelines will now be translated into all EU languages and will be incorporated into ESMA’s Guidelines on ETFs and other UCITS issues, published in July 2012.  The full set of guidelines will enter into force two months after the publication of the translations.  This will result in a comprehensive framework for UCITS that will increase transparency and investor protection and contributes to safeguarding the stability of financial markets. Notes for editors1.    ESMA is an independent EU Authority that was established on 1 January 2011 and works closely with the other European Supervisory Authorities responsible for banking (EBA), and insurance and occupational pensions (EIOPA), and the European Systemic Risk Board (ESRB).2.    ESMA’s mission is to enhance the protection of investors and promote stable and well-functioning financial markets in the European Union (EU).  As an independent institution, ESMA achieves this aim by building a single rule book for EU financial markets and ensuring its consistent application across the EU.  ESMA contributes to the regulation of financial services firms with a pan-European reach, either through direct supervision or through the active co-ordination of national supervisory activity.Further information:David CliffeSenior Communications Officer Tel:   +33 (0)1 58 36 43 24 Mob: +33 6 42 48 29 06Email: press@esma.europa.eu
19/12/2012 2012/848 ESMA clarifies rules for alternative investment funds and their managers , Press Release PDF
110.38 KB
11/02/2013 2013/200 ESMA rules aim to curb excessive risk taking by alternative fund managers , Press Release PDF
95.78 KB
30/05/2013 2013/629 ESMA promotes global supervisory co-operation on alternative funds Press Release PDF
174.57 KB
18/07/2013 2013/992 ESMA finalises supervisory co-operation agreements for alternative investment , , Press Release PDF
167.72 KB
01/10/2013 2013/1368 ESMA clarifies reporting requirements for alternative fund managers , Press Release PDF
81.3 KB
Questions regarding technical support should be sent to info.it.aifmd[at]esma.europa.eu.
03/10/2013 2013/1400 20 September 2013 meeting of the Principals of the OTC Derivative Regulators Group , Press Release PDF
86.63 KB

Principals and senior representatives of authorities responsible for the regulation of the over-the-counter (OTC) derivatives markets in Australia, Brazil, the European Union, Hong Kong, Japan, Ontario, Québec, Singapore, Switzerland and the United States met on 20 September 2013 at the headquarters of the European Securities and Markets Authority (ESMA) in Paris.  The Principals and representatives include:  ·         Steven Maijoor, Chair of the European Securities and Markets Authority (ESMA); ·         Greg Medcraft, Chairman of the Australian Securities and Investments Commission; ·         Leonardo Pereira, Chairman of the Comissão de Valores Mobiliários (Brazil); ·         Patrick Pearson, Acting Director at the European Commission; ·         Ashley Alder, Chief Executive Officer of the Hong Kong Securities and Futures Commission; ·         Masamichi Kono, Vice-Commissioner of the Japan Financial Services Agency; ·         Howard Wetston, Chair of the Ontario Securities Commission; ·         Anne Héritier Lachat, Chair of the Swiss Financial Market Supervisory Authority; ·         Gary Gensler, Chairman of the United States Commodity Futures Trading Commission; ·         Mary Jo White, Chair of the United States Securities and Exchange Commission; ·         Chuan Teck Lee, Assistant Managing Director at the Monetary Authority of Singapore; ·         Louis Morisset, President and CEO, l’Autorité des marchés financiers du Québec.  The Principals discussed generally: the application of clearing requirements to foreign branches and affiliates; risk mitigation techniques for non-centrally cleared derivatives transactions, such as timely confirmation, portfolio reconciliation, portfolio compression, valuation and dispute resolution; the need to co-operate in the implementation of internationally agreed standards on margin for non-centrally cleared derivatives transactions; co-operation on equivalence and substituted compliance assessments among the relevant authorities; and co-operation between authorities in the supervision of registered foreign entities;  The Principals agreed to meet again in February to continue the discussion of the above points.

07/11/2013 2013/1629 ESMA registers trade repositories , Press Release PDF
100.25 KB

ESMA registers DDRL, KDPW, Regis-TR, and UnaVista as trade repositories The European Securities and Markets Authority (ESMA) has approved today the registrations of the first four trade repositories (TRs) under the European Market Infrastructure Regulation (EMIR). The following entities are registered as TRs for the European Union (EU):   DTCC Derivatives Repository Ltd. (DDRL), based in the United Kingdom; Krajowy Depozyt Papierów Wartosciowych S.A. (KDPW), based in Poland; Regis-TR S.A., based in Luxembourg; and UnaVista Ltd, based in the United Kingdom. Steven Maijoor, ESMA Chair, said: “Registering the first European trade repositories is an important component in making derivative markets more transparent and resilient. TRs play a fundamental role in the surveillance of derivatives markets and in risk monitoring. The data gathered by TRs will enable regulators to identify and reduce the risks associated with derivative markets. “ESMA’s TR supervision will ensure more robust market infrastructures and benefit investors, fi-nancial markets and the economy as a whole. Trade reporting to start mid-February TRs are commercial firms that centrally collect and maintain the records of derivatives contracts reported to them. The registration of these TRs means that they can be used by the counterparties to a derivative transaction to fulfil their trade reporting obligations under EMIR. The registrations will take effect on 14 November 2013, with the reporting obligation beginning on 12 February 2014, i.e. 90 calendar days after the official registration date. The registered TRs cover all derivative asset classes –commodities, credit, foreign exchange, equity, interest rates and others – irrespective of whether the contracts are traded on or off exchange. ESMA now assumes supervisory responsibility for the TRs who must continue to comply, on an on-going basis, with the regulatory requirements set out under EMIR. ESMA is currently processing further TR applications. Press release ref. 2013/1629

14/11/2013 2013/1650 ESMA begins preparatory work for new Market Abuse Regime , , Press Release PDF
95.26 KB
ESMA begins preparatory work for new Market Abuse Regime The European Securities and Markets Authority (ESMA) has published a Discussion Paper setting out its initial views on the implementing measures it will have to develop for the new Market Abuse Regulation (MAR). MAR aims to enhance market integrity and investor protection. It will achieve this by updating and strengthening the existing market abuse framework, by extending its scope to new markets and trading strategies, and by introducing new requirements. The Discussion Paper presents positions and regulatory options on those issues where ESMA will have to develop MAR implementing measures, likely to include Regulatory Technical Standards, Delegated Acts and Guidelines. These implementing measures are of fundamental importance to the new regime, as they set out how MAR’s enlarged scope is to be implemented in practice by market participants, trading platforms, investors, issuers and persons related to financial markets. In developing these regulatory options ESMA, where similar requirements already exist under the current Market Abuse Directive (MAD), has taken into consideration the existing MAD Level 2 texts and ESMA/CESR guidelines to set out the DP positions in light of the extended scope of MAR. This Discussion Paper is based on the version of the MAR Level 1 text agreed by the European Parliament, the Council and the European Commission on 24 June 2013. The closing date for responses is Monday 27 January 2014. MAR Policy Areas The DP covers ten sections of MAR where ESMA is expected to have to provide input, these include: • conditions to be met by buyback programmes and stabilization measures to benefit from the exemption from market abuse prohibitions; • arrangement and procedures required for market soundings, from the perspective of both the sounding and the sounded market participants; • indicators and signals of market manipulation; • criteria to establish Accepted Market Practices; • arrangement, systems and procedures to put in place for the purpose of suspicious transactions and order reporting as well as its content and format; • issues relating to public disclosure of inside information and the conditions for delay; • format for insider lists; • issues concerning the reporting and public disclosure of managers’ transactions; • arrangements for fair presentation and disclosure of conflicts of interests by producers and disseminators of investment recommendations; • reporting of violations and related procedures. Next steps ESMA will consider the feedback it receives to this consultation in Q1 2014 and incorporate it in to its full consultation papers on both its draft Technical Standards and Technical Advice to the Commission. The dates for these consultations are will depend on the publication of the final version of MAR. Notes for editors 1. 2013/1649 Discussion Paper - ESMA’s policy orientations on possible implementing measures under the Market Abuse Regulation 2. Proposal for a Regulation of the European Parliament and of the Council on insider dealing and market manipulation (market abuse) (MAR) 3. ESMA is an independent EU Authority that was established on 1 January 2011 and works closely with the other European Supervisory Authorities responsible for banking (EBA), and insurance and occupational pensions (EIOPA), and the European Systemic Risk Board (ESRB). 4. ESMA’s mission is to enhance the protection of investors and promote stable and well-functioning financial markets in the European Union (EU). As an independent institution, ESMA achieves this aim by building a single rule book for EU financial markets and ensuring its consistent application across the EU. ESMA contributes to the regulation of financial services firms with a pan-European reach, either through direct supervision or through the active co-ordination of national supervisory activity. Press Release 2013/1650 Discussion Paper 2013/1649

Pages