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|18/02/2015||2015/319||Addendum Consultation Paper- MiFID II/MiFIR||MiFID - Secondary Markets||Consultation Paper||PDF
|The European Securities and Markets Authority (ESMA) has published today a consultation paper (CP) which complements the transparency section of the CP on MiFID II/MiFIR published on 19 December 2014. This CP covers the following non-equity asset classes: foreign exchange derivatives; credit derivatives; other derivatives; and contracts for difference (CFDs). For each asset class two sections are provided: the first presents the analysis on the definition of a liquid market and the second includes the calculations on the pre-trade and post-trade transparency large in scale (LIS) and size specific to the instrument (SSTI) thresholds. The last section of the CP completes draft RTS 9 (Transparency requirements in respect of bonds, structured finance products, emission allowances and derivatives) published in Annex B of the CP on MiFID II/MiFIR on 19 December 2014, where rules and tables were included for bonds, structured finance products, emission allowances and derivatives not covered in this more recent analysis. This CP should be read in conjunction with ESMA’s CP on MiFID II/MiFIR and the related Annex B published on 19 December 2014. This consultation runs until 20 March 2015. ESMA will use the input received to finalise its draft RTS which will be sent for endorsement to the European Commission in mid-2015. MiFID II/ MiFIR and its implementing measures will be applicable from 3 January 2017.|
|24/03/2015||2015/610||Draft guidelines on complex debt instruments and structured deposits||MiFID - Investor Protection||Consultation Paper||PDF
|Who should read this paper This paper is primarily of interest to competent authorities and firms that are subject to MiFID, in particular, investment firms and credit institutions performing investment services and activities. This paper is also important for trade associations, investors, and consumer groups, because the guidelines seek to implement enhanced provisions to ensure investor protection with potential impacts for anyone engaged in dealing with or processing of financial instruments. 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 15 June 2015. 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.|
|23/04/2015||2015/753||Draft guidelines for the assessment of knowledge and competence||MiFID - Investor Protection||Consultation Paper||PDF
|The European Securities and Markets Authority is required by Article 25(9) of MiFID II to develop guidelines specifying criteria for the assessment of knowledge and competence of the investment firm’s personnel giving investment advice or information about financial instruments, investment services or ancillary services to clients on behalf of the investment firm to fulfil their obligations under Article 24 and Article 25.In accordance with Article 16(2) of the ESMA Regulation, this paper sets out, for consultation, draft ESMA guidelines on certain aspects of MiFID II for the assessment of knowledge and competence. ESMA considers that these guidelines will establish a knowledge and competence framework that will set principles for individuals in MiFID firms that give investment advice or information about financial instruments, investment services or ancillary services to clients on behalf of the investment firm.The purpose of these guidelines is to improve investor protection by increasing the knowledge and competence of individuals in investment firms providing services to clients.|
|08/06/2015||2015/920||Impact of the Best Practice Principles for Providers of Shareholder Voting Research and Analysis||Corporate Disclosure, Corporate Governance||Consultation Paper||PDF
|Responding to this Call for Evidence ESMA invites comments on all matters in this paper and in particular on the specific questions presented throughout the paper. Comments are most helpful, if they:a. respond to the question stated;b. indicate the specific question to which they relate; andc. contain a clear rationale. ESMA will consider all comments received by 27 July 2015. 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 Call for Evidence, 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 Call for Evidence This Call for Evidence will be of relevance to persons and entities participating in the voting chain, particularly proxy advisors, investors, companies listed in Europe, proxy solicitors and consultants.|
|20/09/2016||2016/1389||Discussion Paper on the trading obligation for derivatives under MiFIR||MiFID - Secondary Markets||Consultation Paper||PDF
|30/09/2016||2016/1409||Draft RTS and ITS under SFTR and amendments to related EMIR RTS||Post Trading, Securities Financing Transactions||Consultation Paper||PDF
The European Securities and Markets Authority (ESMA) is publishing this Consultation Paper as part of its consultations on Level 2 measures under the Securities Financing Transactions Regulation (SFTR) as well as certain amendments to the Level 2 measures under EMIR in order to take into account legal developments as well as to ensure consistency, where relevant, between the frameworks of both regulations
Section 1 is the executive summary of the document. Section 2 explains the background to our proposals. Section 3 includes detailed information on the procedure and criteria for registration as TR under SFTR. Section 4 details the use of internationally agreed reporting standards, the reporting logic under SFTR and the main aspects of the structure of an SFT report. Section 5 covers the requirements regarding transparency of data and aggregation and comparison of data. Section 6 details the access levels of authorities. Section 7 contains the tables of fields, for the relevant types of SFTs, as well as a summary of all the questions.
ESMA will consider the feedback it received to this document in the fourth quarter of 2016. The final report and the draft technical standards will be submitted to the European Commission for endorsement by the end of Q1/beginning Q2 2017.
|03/10/2016||2016/1422||CP on RTS specifying the scope of the consolidated tape for non-equity financial instruments||MiFID - Secondary Markets||Consultation Paper||PDF
This consultation paper (CP) seeks stakeholders’ views on the draft Regulatory Technical Standard (RTS) ESMA is required to draft under Article 65(8)(c) of Directive 2014/65/EU with regard to the consolidated tape for non-equity instruments.
The input from stakeholders will help ESMA in finalising this draft RTS. Respondents to the consultations are encouraged to provide the relevant data to support their arguments or proposals.
Section 2 introduces the topic. Section 3 addresses the issue of specialisation of the CT, whereas section 4 discusses which trading venues and APAs should be mandatorily included in the CT. Finally, the CP ends with section 5 which discusses the inclusion of new trading venues and APAs to the CT as well as the removal of a trading venue or APA from the CT.
On the basis of the responses to this CP, ESMA will finalise the draft RTS and submit the final report to the European Commission for endorsement. The consultation closes on 5 December.
|05/10/2016||2016/1436||Consultation Paper on Draft guidelines on MiFID II product governance requirements||MiFID - Investor Protection||Consultation Paper||PDF
|05/10/2016||2016/1437||Consultation Paper on Guidelines on the management body of market operators and data reporting services providers||MiFID - Secondary Markets||Consultation Paper||PDF
|06/10/2016||2016/1440||Guidelines on the calibration, publication and reporting of trading halts||MiFID - Secondary Markets||Consultation Paper||PDF
|28/10/2016||2016/1529||Joint ESMA and EBA Guidelines on the assessment of the suitability of members of the management body and key function holders||Guidelines and Technical standards, MiFID - Investor Protection||Consultation Paper||PDF
|10/11/2016||2016/1562||Consultation Paper- Draft RTS on package orders for which there is a liquid market||MiFID - Secondary Markets||Consultation Paper||PDF
|06/04/2020||ESMA 50-165-1098||ESMA annual statistical report on performance and costs of retail investment products in the EU- 2020||Report||PDF
|30/09/2019||ESMA-35-43-2090||Call for evidence on MiFID II product intervention powers||MiFID - Investor Protection||Consultation Paper||PDF
|31/03/2017||ESMA/2017/70-8792942901-40||Final report on Draft RTS specifying the scope of the consolidated tape for non-equity financial instruments||MiFID - Secondary Markets||Report||PDF
|04/02/2019||ESMA20-95-1105||2019 Regulatory Work Programme||Board of Supervisors, Planning reporting budget, Supervisory convergence||Report||PDF
|06/02/2020||ESMA22-105-1052||Strategy on Sustainable Finance||Sustainable finance||Report||PDF
|09/01/2020||ESMA22-106-1942||Strategic Orientation 2020-22||Board of Supervisors, Corporate Information||Report||PDF
|18/12/2019||ESMA30-22-762||Report on undue short-term pressure on corporations from the financial sector||Sustainable finance||Report||PDF
|05/04/2017||ESMA31-54-435||Report on shareholder identification and communication systems||Corporate Finance, Corporate Governance||Report||PDF