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|Date||Ref.||Title||Section||Type||Download||Info||Summary||Related Documents||Translated versions|
|30/08/2012||2012/537||STATEMENT- Short Selling Regulation Update: Market Maker & Primary Dealer Exemption Notification Procedure||Short Selling, Market Integrity, Press Releases||Statement||PDF
|The European Securities and Markets Authority (ESMA) is publishing this notice to alert financial market participants to its upcoming consultation on the market making and authorised primary dealer exemption under the EU’s Short Selling Regulation (SSR) and the procedure to be followed by firms and regulators in dealing with notifications of intention to use the exemption.|
|26/01/2022||ESMA70-447-1885||Statement on new NSP notification threshold||Market Integrity, Short Selling||Statement||PDF
|01/07/2015||2015/1005||Questions and Answers: Investment-based crowdfunding: money laundering/terrorist financing||Innovation and Products||Q&A||PDF
|21/02/2012||2012/113||Questions and Answers- A Common Definition of European Money Market Funds- updated February 2012||Fund Management||Q&A||PDF
|The purpose of this document is to promote common supervisory approaches and practices in the application of the guidelines on a Common Definition of European Money Market Funds developed by CESR by providing responses to questions posed by the general public and competent authorities. The content of this document is aimed at competent authorities to ensure that in their supervisory activities their actions are converging along the lines of the responses adopted by ESMA. However, the answers are also intended to help management companies by providing clarity as to the content of CESR’s guidelines on a Common Definition of European Money Market Funds, rather than creating an extra layer of requirements.|
|21/11/2016||2016/1586||Questions and Answers on UCITS Directive||Fund Management||Q&A||PDF
|09/11/2020||ESMA31-67-127||Question and answers on Transparency Directive (TD)||Brexit, Corporate Disclosure, Corporate Finance, Supervisory convergence, Transparency||Q&A||PDF
|29/05/2018||ESMA70-145-408||Question and Answers (Q&A) on the Regulation on short selling and certain aspects of credit default swaps (SSR)||Short Selling||Q&A||PDF
|20/07/2022||ESMA34-43-392||Q&A on the application of the UCITS Directive||Fund Management||Q&A||PDF
|31/05/2016||2016/774||Q&A on the Application of the EuSEF and EuVECA Regulations||Fund Management||Q&A||PDF
|20/07/2022||ESMA34-32-352||Q&A on the Application of the AIFMD||Fund Management, Supervisory convergence||Q&A||PDF
|11/04/2019||ESMA31-62-780||Q&A on Prospectus Related Topics||Brexit, Corporate Disclosure, Corporate Finance, Corporate Governance, Corporate Information, Prospectus, Supervisory convergence||Q&A||PDF
|30/01/2013||2013/159||Q&A on Implementation of the Regulation on short selling and certain aspects of credit default swaps (2nd update)||Short Selling||Q&A||PDF
|02/02/2016||2016/165||Public Statement- Supervisory work on potential closet index tracking||Fund Management||Statement||PDF
The European Securities and Markets Authority (ESMA) is issuing this statement to inform stakeholders and especially investors about the potential for some European collective investment funds to be ‘closet index trackers’, and to give details on the work that ESMA has been doing in this context.
Reasons for issuing this statement
 ESMA recognises that management fees may depend on a number of factors.
|11/08/2011||2011/266||Public statement- harmonised regulatory action on short-selling in the EU||Short Selling, Press Releases||Statement||PDF
|25/11/2011||2011/397||Public statement on sovereign debt in IFRS financial statements||Corporate Disclosure, Corporate Governance, IFRS Supervisory Convergence, Press Releases||Statement||PDF
|27/03/2020||ESMA31-67-742||Public statement on publication deadlines under the Transparency Directive||COVID-19, Transparency||Statement||PDF
|09/07/2020||ESMA34-39-109||Public statement on external support within the meaning of Article 35 of the MMF Regulation||COVID-19, Fund Management||Statement||PDF
|16/05/2022||ESMA34-45-1633||Public statement on actions to manage the impact of the Russian invasion of Ukraine on investment fund portfolios||Fund Management||Statement||PDF
|28/06/2017||ESMA35-36-885||Product Intervention- General Statement||Innovation and Products, MiFID - Investor Protection||Statement||PDF
This statement provides an update on the European Securities and Markets Authority’s (ESMA) work in relation to the sale of contracts for differences (CFDs), binary options and other speculative products to retail investors.
ESMA has been concerned about the provision of speculative products such as CFDs, rolling spot forex and binary options to retail investors for a considerable period of time and has conducted ongoing monitoring and supervisory convergence work in this area. In this context, ESMA has previously published a number of Q&As on CFDs and other speculative products to foster supervisory convergence, having established a CFD Task Force in July 2015, and also issued a further investor warning on the sale of CFDs, binary options and other speculative products in July 2016.
However, ESMA remains concerned that these supervisory convergence tools may not be sufficiently effective to ensure that the risks to consumer protection are sufficiently controlled or reduced. ESMA is therefore discussing the possible use of its product intervention powers under Article 40 of MiFIR to address investor protection risks in relation to CFDs, rolling spot forex and binary options.
ESMA is in the process of discussing the possible use of its product intervention powers under Article 40 of MiFIR, the possible content of any such measures, and how they could be applied. However, ESMA can confirm that the measures being discussed for (i) CFDs and rolling spot forex and (ii) binary options include proposals that take into account a number of measures that have been adopted or publicly consulted on by EU National Competent Authorities. These measures include leverage limits, guaranteed limits on client losses, and / or restrictions on the marketing and distribution of these products.
In accordance with Article 40 of MiFIR, any intervention measures must be approved by the ESMA Board of Supervisors and can only come into effect from 3 January 2018 at the earliest.
 ESMA/2016/1166 Warning about CFDs, binary options and other speculative products published 25 July 2016
|31/07/2014||2014/944||Potential Risks Associated with Investing in Contingent Convertible Instruments||Warnings and publications for investors, Innovation and Products||Statement||PDF
|The European Securities and Markets Authority (ESMA) is issuing this statement to clarify to institutional investors risks from a newly emerging asset class referred to by most market participants as contingent convertibles instruments (CoCos). If they work as intended in a crisis CoCos will play an important role to inhibit risk transfer from debt holders to taxpayers. They along with standards to improve the quality and quantity of bank capital reflect a considerate response to the former regulatory capital framework. However, it is unclear as to whether investors fully consider the risks of CoCos and correctly factor those risks into their valuation. ESMA believes there are specific risks to CoCos and that investors should take those risks into consideration prior to investing in these instruments.|