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Date Ref. Title Section Type Download Info Summary Related Documents Translated versions
19/12/2012 2012/844 Draft regulatory technical standards on types of AIFMs Consultation Paper PDF
826.57 KB
19/12/2012 2012/845 Guidelines on key concepts of the AIFMD Consultation Paper PDF
698.69 KB
29/01/2013 2013/149 Emergency measure by the Greek HCMC under Section 1 of Chapter V of Regulation No 236/2012 on short selling and certain aspects of credit default swaps Opinion PDF
96.52 KB
30/01/2013 2013/159 Q&A on Implementation of the Regulation on short selling and certain aspects of credit default swaps (2nd update) Q&A PDF
873.32 KB
12/02/2013 2013/203 On the evaluation of the Regulation (EU) 236/2012 of the European Parliament and of the Council on short selling and certain aspects of credit default swaps Consultation Paper PDF
315.16 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.
20/03/2013 2013/317 Framework for the assessment of third country prospectuses under Article 20 of the Prospectus Directive , Opinion PDF
725.59 KB
30/04/2013 2013/542 Emergency measure by the Greek HCMC under Section 1 of Chapter V of Regulation No 236/2012 on short selling and certain aspects of credit default swaps , Opinion PDF
96.41 KB
24/05/2013 2013/599 AIFM reporting XSD schema and samples Consultation Paper ZIP
29.41 KB
The CP setting out draft ESMA’s guidelines on reporting obligations under Articles 3 and 24 of the AIFMD (ESMA/2013/592) is supplemented by AIFM reporting XSD schema and samples that AIFMs will have to use to report the information under Articles 3 and 24 to their national competent authorities. ESMA is also seeking feedback from stakeholders on these documents 
24/05/2013 2013/592 Consultation paper on ESMA’s guidelines on AIFMD reporting obligations under Articles 3 and 24 of the AIFMD Consultation Paper PDF
973.51 KB
Consultation paper on ESMA’s guidelines on AIFMD reporting obligations under Articles 3 and 24 of the AIFMD ESMA’s consultation paper (CP) on AIFMD reporting obligations contains in draft guidelines to national competent authorities (NCAs) for securities markets on reporting obligations for AIFMs under Articles 3 and 24 of the AIFMD.  These draft guidelines, set out in Annex III, provide clarification on the information that AIFMs should report to NCAs, the timing of such reporting together with the procedures to be followed when AIFMs move from one reporting obligation to another.  Annex IV of the CP includes the reporting template set out in Regulation 231/2013.  Annex V sets out a diagram which summarises the reporting obligations of AIFMs, as determined by the total value of assets under management and the nature of the AIFs managed or marketed.  Annex VI provides stakeholders with detailed IT guidance for XML filing.  The CP is accompanied by the publication of the AIFM reporting XSD schema (ESMA/2013/599) that AIFMs will have to use to report the information under Articles 3 and 24 to NCAs and on which ESMA is also seeking feedback from stakeholders.
01/08/2013 2013/1072 Practical arrangements for the late transposition of the AIFMD Opinion PDF
93.1 KB
The European Securities and Markets Authority (ESMA) has published an Opinion on arrangements for the late imposition of the AIFMD. The scope of the opinion is confined to the provision of collective portfolio management services. Arrangements before implementation of the Directive in all Member States Notification of marketing of EU AIFs when the host MS of the AIFM has not transposed the Directive (Articles 31 and 32 of the Directive) ESMA believes that, if the Directive has been transposed in the home MS of the AIFM, the competent authority of the host MS of the AIFM (Article 32) or home MS of the AIFM (Article 31) may not refuse a valid notification under the Directive on the ground that the Directive has not yet been transposed in the host MS. This applies irrespective of whether the marketing is done using the freedom to provide services or by means of a branch. Management passport (Article 33 of the Directive) ESMA believes that AIFMs established in a MS that has transposed the Directive should be able to manage an EU AIF via the management passport, both using the freedom to provide services or by means of a branch, in a MS where the Directive has not been transposed, irrespective of the provisions currently in place in such jurisdiction since the relevant provisions of the Directive are of a self-executing nature, and provided the AIFM is authorised to manage that type of AIF in accordance with Article 33(1) of the AIFMD. Any local restrictions on AIFMs that are not in accordance with the AIFMD will need to be disapplied.
18/12/2013 2013/1944 Format of the base prospectus and consistent application of Article 26(4) of the Prospectus Regulation , Opinion PDF
75.6 KB
20/12/2013 2013/1974 Revision of the provisions on diversification of collateral in ESMA’s guidelines on ETFs and other UCITS issues Consultation Paper PDF
202.22 KB
22/07/2014 2014/876 Discussion paper- Calculation of counterparty risk by UCITS for OTC financial derivative transactions subject to clearing obligations Consultation Paper PDF
305.08 KB
26/09/2014 2014/1182 Consultation paper on the implementing measures of the Regulations on EuSEF and EuVECA Consultation Paper PDF
635.29 KB
Who should read this paper This consultation paper is addressed to social entrepreneurs, impact investors, EuSEF and EuVECA managers, impact fund managers, business angels, venture capitalists and other relevant stakeholders and their associations in the area of social entrepreneurship and venture capital in the EU. Responding to this paper ESMA invites comments on all matters 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. ESMA will consider all comments received by 10 December 2014. 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 publically 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’.
26/09/2014 2014/1183 Consultation paper on ESMA's technical advice to the European Commission on delegated acts required by the UCITS V Directive Consultation Paper PDF
734.97 KB
Who should read this paper This document will be of interest to depositaries (including their delegates) of UCITS funds and their trade associations, asset management companies managing UCITS funds and their trade associations, as well as  institutional and retail investors investing into such funds and their associations. Responding to this paper ESMA invites comments on all matters 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. ESMA will consider all comments received by 24 October 2014. 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 publically 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’.
26/09/2014 2014/1186 Consultation paper on draft RTS on prospectus related issues under the Omnibus II Directive , Consultation Paper PDF
670.42 KB
ESMA invites comments on all matters in this paper and in particular on the specific questions summarised in Annex I. Comments are most helpful if they:•    respond to the question stated;•    indicate the specific question to which they relate;•    contain a clear rationale; and•    describe any alternatives ESMA should consider.ESMA will consider all comments received by 19 December 2014. 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 publically 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 This document will be of interest to all stakeholders. It would primarily be of interest to investors, issuers, offerors or persons asking for admission to trading on a regulated market, as well as to any market participant who is affected by Directive 2003/71/EC of 4 November 2003 (the Prospectus Directive) as amended by Directive 2010/73/EU and Directive 2010/78/EU and its Regulation (Commission Regulation (EC) No 809/2004) and Delegated Regulations (Commission Delegated Regulation (EC) No 486/2012, No 862/2012, No 759/2013 and No 1392/2014.
27/10/2014 2014/1312 ESMA opinion on emergency measure by the Italian CONSOB under the short-selling regulation Opinion PDF
137.35 KB
07/11/2014 2014/1340 Call for evidence on AIFMD passport and third country AIFMs Consultation Paper PDF
317.57 KB
11/11/2014 2014/1355 ESMA opinion on the renewal of short positions ban in Italy Opinion PDF
114.46 KB