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Date Ref. Title Section Type Download Info Summary Related Documents Translated versions
25/07/2016 2016/1167 Press release- ESMA issues warning on sale of speculative products to retail investors Press Release PDF
147.01 KB
18/05/2011 2011/146 Press release- ESMA issues Guidelines on endorsement and clarifies the use for regula-tory purposes of credit ratings issued outside the European Union after 6 June 2011 , Press Release PDF
33.42 KB
19/09/2011 2011/306 Press release- ESMA issues first drafts of binding standards for credit rating agencies , Press Release PDF
28.01 KB
21/07/2016 2016/1157 Press release- ESMA fines Fitch Ratings Limited €1.38 million , Press Release PDF
282.37 KB
29/06/2015 2015/1050 Press Release- ESMA fines DBRS Ratings Ltd. for internal control failings , Press Release PDF
172.71 KB
21/12/2011 2011/460 Press Release- ESMA extends transitional period for use of non-EU credit ratings, Australian CRA regime endorsed , Press Release PDF
164.63 KB
20/07/2011 2011/223 Press release- ESMA consults on systems and controls for highly automated trading , Press Release PDF
57.39 KB
19/12/2018 ESMA71-99-1085 Press release- ESMA consults on measures to promote sustainability in EU capital markets , , Press Release PDF
125.69 KB
06/06/2011 2011/170 Press release- ESMA and the Japanese FSA exchanged letters establishing the cooperation framework between the EU and Japan for credit rating agencies , Press Release PDF
133.72 KB
27/03/2018 ESMA71-98-128 Press release- ESMA agrees to prohibit binary options and restrict CFDs to protect retail investors , Press Release PDF
235.94 KB
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12/02/2018 ESMA71-99-946 Press release- ESAs warn consumers of risks in buying virtual currencies Press Release PDF
128.93 KB
31/10/2011 2011/360 Press release- DBRS, Fitch, Moody's, and S&P receive EU registration , Press Release PDF
189.6 KB
20/03/2017 ESMA71-99-371 Press release TRV No. 1, 2017 , Press Release PDF
226.09 KB
02/05/2018 ESMA71-99-971 Press release on MiFID II bond transparency calculations Press Release PDF
150.66 KB
06/12/2017 ESMA50-164-1173 Press Release MiFID/MAR Transitional Transparency Calculations , , , , Press Release PDF
225.44 KB
02/05/2016 2016/566 Press release MiFID II RTS , Press Release PDF
131.33 KB
18/07/2019 ESMA71-99-1199 Press Release for CRA sustainability , Press Release PDF
79.07 KB
02/02/2017 ESMA71-844457584-339 Press Release ESMA Supervision 2016 annual report and 2017 work programme , Press Release PDF
142.26 KB
22/12/2015 2015/1872 Press Release Cross Selling Guidelines Press Release PDF
156.66 KB

The European Securities and Markets Authority (ESMA) has published its Guidelines on Cross-Selling Practices under MiFID II (guidelines) to ensure investors are treated fairly when an investment firm offers two or more financial products or services as part of a package.

The guidelines include principles on:

  • improving disclosures when different products are cross-sold with one another;
  • requiring firms to provide investors with all relevant information in a timely and clear manner;
  • addressing conflicts of interest arising from remuneration models; and
  • improving client understanding on whether purchasing the individual products offered in a package is possible.

The European Supervisory Authorities (ESAs) – EBA, EIOPA and ESMA - initially intended to issue joint guidelines covering all cross-selling practices taking place in the banking, insurance and securities sectors given that cross-selling is often cross-sectoral, and had consulted the stakeholders previously on this basis.

However, in light of legal concerns, the ESAs decided not to issue joint guidelines on cross-selling practices but agreed that ESMA should issue ESMA-only guidelines under MiFID II in order to meet its 3 January 2016 deadline.

While ESMA’s guidelines take into account the results of the ESAs’ joint consultation, the final report focuses on the feedback regarding cross-selling practices under MIFID II. Further, the guidelines are addressed to national regulators supervising the firms which provide MiFID services, when they engage in cross-selling practices.

The ESAs intend to inform the European Commission about the issues encountered and raise the possibility of legislative change to provide a foundation for future joint guidelines.

The guidelines will apply from 3 January 2017.

13/05/2020 ESMA71-99-1327 Press Release CLO Thematic Report , , Press Release PDF
123.56 KB