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Date Ref. Title Section Type Download Info Summary Related Documents Translated versions
26/01/2011 2011/35 Call for evidence- Request for technical advice on possible delegated acts concerning the Prospectus Directive (2003/71/EC) as amended by the Directive 2010/73/EU , Consultation Paper PDF
3.85 MB
15/06/2011 2011/141 Consultation paper- ESMA’s technical advice on possible delegated acts concerning the Prospectus Directive as amended by the Directive 2010/73/EU , Consultation Paper PDF
1.45 MB
10/11/2011 2011/373 Consultation paper- Considerations of materiality in financial reporting , Consultation Paper PDF
170.93 KB
13/12/2011 2011/444 ESMA’s technical advice on possible delegated acts concerning the Prospectus Directive as amended by the Directive 2010/73/EU , Consultation Paper PDF
1.15 MB
The purpose of this consultation document from ESMA is to seek comments on the technical advice that ESMA proposes to give to the European Commission on a number of possible delegated acts.
16/02/2012 2012/95 Draft Technical Standards for the Regulation on OTC Derivatives, CCPs and Trade Repositories Consultation Paper PDF
776.04 KB
The Regulation of the European Parliament and Council on OTC Derivatives, CCPs and trade repositories (EMIR) introduces provisions to improve transparency and reduce the risks associated with the OTC derivatives market and establishes common rules for central counterparties (CCPs) and for trade repositories (TRs).  It has been identified that common rules are required in the case of CCPs in view of the shift of risk management from a bilateral to a central process for OTC derivatives and in the case of trade repositories because of the increase in information that needs to be reported to them. The Regulation delegates or confers powers to the Commission to adopt regulatory technical standards (RTS) and implementing technical standards (ITS) on a number of areas. This discussion paper covers the draft RTS and ITS which ESMA is required to develop. Following this discussion paper and on the basis of the relevant input received, ESMA will prepare draft technical standards to be included in the consultation paper which will most likely be published around summer 2012.
06/03/2012 JC/DP/2012/1 Joint Discussion Paper on Draft Regulatory Technical Standards on risk mitigation techniques for OTC derivatives not cleared by a CCP under the Regulation on OTC derivatives, CCPs and Trade Repositories Consultation Paper PDF
402.37 KB
EBA, EIOPA and ESMA (the ESAs) invite market participants and all interested stakeholders to provide their feedback on planned regulatory technical standards covering risk mitigation techniques for OTC derivatives not cleared by central counterparties. The EMIR Regulation (“the Regulation”) on OTC Derivatives, CCPs and trade repositories introduces provisions to improve transparency and reduce the risks associated with the OTC derivatives market and establishes common rules for central counterparties (CCPs) and for trade repositories (TRs). The Regulation acknowledges that not all OTC derivatives would meet the necessary requirements to be centrally cleared. For this reason, it introduces provisions on risk mitigation techniques for OTC derivatives not cleared by a CCP.
14/05/2012 JC/CP/2012/01 EBA, EIOPA and ESMA’s Joint Consultation Paper on its proposed response to the Commission’s Review of the Financial Conglomerates Directive Consultation Paper PDF
590.22 KB
20/06/2012 2012/380 ESMA’s technical advice on possible delegated acts concerning the Prospectus Directive as amended by the Directive 2010/73/EU , Consultation Paper PDF
1.49 MB
Responses to this consultation paper should be submitted online by 20 August 2012.
25/06/2012 2012/379 Draft Technical Standards for the Regulation on OTC Derivatives, CCPs and Trade Repositories Consultation Paper PDF
2.12 MB

This consultation paper includes the Regulatory and Implementing Technical Standards ESMA is required to draft under the Regulation of the European Parliament and Council on OTC derivatives, central counterparties and trade repositories (EMIR). It covers implementing measures for the application of the clearing obligation for risk mitigation techniques, exemptions for non-financial counterparties and intra-group transactions, requirements for CCPs and reporting and disclosure obligations for trade repositories. 

31/08/2012 JC/CP/2012/02 Joint consultation paper on Draft Regulatory Technical Standards on the uniform conditions of application of the calculation methods under Article 6.2 of the Financial Conglomerates Directive Consultation Paper PDF
769.24 KB
Please send your comments to the EBA, EIOPA and ESMA by email to joint-committee@eba.europa.eu, jointcommittee@eiopa.europa.eu and joint.committee@esma.europa.eu by 05.10.2012, indicating the reference ‘JC CP 2012 02’ in the subject field. Please note that comments submitted after the deadline, or sent to another e-mail address will not be processed.
01/10/2012 2012/607 Further amendments to ESMA’s Recommendations for the consistent implementation of the Prospectus Regulation regarding mineral companies , Consultation Paper PDF
481.61 KB
24/10/2012 JC/CP/2012/01 Responses Responses to the Joint CP on Financial Conglomerates Consultation Paper PDF
183.7 KB
25/10/2012 JC/CP/2012/02 Responses Responses to the second Joint CP on Financial Conglomerates Consultation Paper ZIP
4.54 MB
20/12/2012 2012/852 Guidelines for establishing consistent, efficient and effective assessments of interoperability arrangements Consultation Paper PDF
445.22 KB
11/01/2013 2013/12 Principles for Benchmarks-Setting Processes in the EU Consultation Paper PDF
259.33 KB
20/02/2013 2013/219 ESMA’s Technical Advice to the Commission on Fees for Trade Repositories Consultation Paper PDF
586.97 KB
15/03/2013 2013/316 Draft Regulatory Technical Standards on specific situations that require the publication of a supplement to the prospectus , Consultation Paper PDF
672.89 KB
The Consultation Paper sets out a draft Regulatory Technical Standard concerning situations that require the systematic publication of a supplement to the prospectus which the European Securities and Markets Authority (ESMA) is obliged to develop in accordance with Article 16(3) of the Prospectus Directive. The listed situations are concrete examples of the general obligation in Article 16(1)  to mention in a supplement every significant new factor, material mistake or inaccuracy relating to information included in the prospectus which is capable of affecting the assessment of the securities. ESMA believes that the test whether a new factor, mistake or inaccuracy qualifies as a triggering event for producing a supplement is the same test as whether information should be included in the prospectus. As a consequence, significance or materiality should be assessed according to the same qualitative and/or quantitative criteria used when drafting the prospectus. In light of this, ESMA has identified a short list comprising 10 situations, which will always require issuers, offerors or persons asking for admission to trading to draw up and publish a supplement to the prospectus.The CP includes a draft Regulatory Technical Standard setting out the situations that would require a systematic publication of a supplement as well as the minimum content of such a supplement. Responses to the consultation should be submitted online by 28 June 2013.
12/07/2013 2013/925 The Clearing Obligation under EMIR Consultation Paper PDF
773.26 KB

The European Securities and Markets Authority (ESMA) is publishing this discussion paper in order to seek stakeholders’ views on the preparation of the regulatory technical standards ESMA is required to draft under Article 5(2) “Clearing Obligation Procedure” of the Regulation (EU) No 648/2012 of the European Parliament and Council on OTC derivatives, central counterparties and trade repositories (EMIR). The input from stakeholders will help ESMA in the development of the relevant technical standards to be drafted and submitted to the European Commission for endorsement in the form of Commission Regulations, i.e. a legally binding instrument directly applicable in all Member States of the European Union. One essential element in the development of draft technical standards is the analysis of the costs and benefits that those legal provisions will imply. Input in this respect and any supportive data will be highly appreciated and kept confidential where required. Please respond to the consultation using the response template. The closing date for responses is 12 September 2013.

17/07/2013 2013/892 Draft Regulatory Technical Standards on contracts having a direct, substantial and foreseeable effect within the Union and non-evasion of provisions of EMIR Consultation Paper PDF
1.37 MB

Draft Regulatory Technical Standards on contracts having a direct, substantial and foreseeable effect within the Union and non-evasion of provisions of EMIR

19/07/2013 2013/1013 Guidelines on enforcement of financial information , Consultation Paper PDF
540.55 KB

Responding to this paper The European Securities and Markets Authority (ESMA) is seeking comments on all matters covered in this paper and in particular on the specific questions summarised in Annex 1. Comments are most helpful if they: respond to the question stated; indicate the specific question to which the comment relates; contain a clear rationale; and describe any alternatives ESMA should consider. Deadline ESMA will consider all comments received by 15 October 2013. All contributions should be submitted online at www.esma.europa.eu under the heading “Your input - Consultations” Publication of responses All contributions received will be published following the close of the consultation, unless you request otherwise. Please clearly and prominently indicate in your submission any part you do not wish to be publicly disclosed. A standard confidentiality statement in an email message will not be treated as a request for non-disclosure. A confidential response may be requested from us in accordance with ESMA’s rules on access to documents. We may consult you if we receive such a request. Any decision we make not to disclose the response is reviewable by ESMA’s Board of Appeal and the European Ombudsman. Data protection Information on data protection can be found at www.esma.europa.eu under the heading “Legal Notice”. Who should read this paper All interested parties are invited to respond to this consultation paper. It will primarily be of interest to those charged with the governance of issuers preparing financial information, users of financial information, auditors, and other parties who have a particular interest in financial reporting.

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