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Date Ref. Title Section Type Download Info Summary Related Documents Translated versions
07/07/2016 2016/1073 Opinion on the exemption for Swedish pension scheme Opinion PDF
203.12 KB
16/01/2017 ESMA03-445018618-7 Opinion on the exemption from the clearing obligation of Swedish pension schemes- Notification Ref. 21 Opinion PDF
135.73 KB
16/01/2017 ESMA03-445018618-8 Opinion on the exemption from the clearing obligation of Swedish pension schemes- Notification Ref. 23 Opinion PDF
203.07 KB
12/01/2017 ESMA50-1215332076-23 Opinion on the impact of the exclusion of fund management companies from the scope of the MiFIR intervention powers Opinion PDF
224.29 KB
15/11/2016 2016/1575 Opinion- Common indicators for new products and services under Article 15 and for significant changes under Article 49 of EMIR Opinion PDF
246.48 KB
18/12/2014 2014/1378 Opinion- Investment-based crowdfunding Opinion PDF
460.92 KB
Crowdfunding is a means of raising finance for projects from ‘the crowd’ often by means of an internet-based platform through which project owners ‘pitch’ their idea to potential backers, who are typically not professional investors.  It takes many forms, not all of which involve the potential for a financial return.  ESMA’s focus is on crowdfunding which involves investment, as distinct from donation, non-monetary reward or loan agreement.  Crowdfunding is relatively young and business models are evolving. EU financial services rules were not designed with the industry in mind. Within investment-based crowdfunding a range of different operational structures are used so it is not straightforward to map crowdfunding platforms’ activities to those regulated under EU legislation. Member States and NCAs have been working out how to treat crowdfunding, with some dealing with issues case-by-case, some seeking to clarify how crowdfunding fits into existing rules and others introducing specific requirements.To assist NCAs and market participants, and to promote regulatory and supervisory convergence, ESMA has assessed typical investment-based crowdfunding business models and how they could evolve, risks typically involved for project owners, investors and the platforms themselves and the likely components of an appropriate regulatory regime. ESMA then prepared a detailed analysis of how the typical business models map across to the existing EU legislation, set out in this document.
02/02/2016 2016/184-199 Opinions on Exemptions from the clearing obligation for pension schemes Opinion PDF
388.77 KB

Today’s document published by ESMA contains opinions on 16 UK-based pension schemes where the UK Financial Conduct Authority (FCA) is the competent authority for securities markets. After the exemptions are granted by the FCA, ESMA will publish the list of the types of entities/ arrangements that have been exempted.

13/04/2016 2016/592-594 Opinions on Pension Schemes Exemptions Opinion PDF
273.73 KB
01/12/2021 ESMA70-1861941480-52 Q&A on EMIR implementation , Q&A PDF
1.48 MB
17/04/2020 ESMA32-51-370 Q&A on ESMA Guidelines on Alternative Performance Measures , Q&A PDF
329.01 KB
29/04/2016 2016/665 Q&A on ESMA’s EU-wide stress tests for CCPs Q&A PDF
269.98 KB
11/04/2019 ESMA31-62-780 Q&A on Prospectus Related Topics , , , , , , Q&A PDF
957.9 KB
19/11/2021 ESMA70-145-114 Q&A on the Benchmarks Regulation (BMR) , Q&A PDF
548.59 KB
27/07/2021 ESMA31-62-1258 Q&As on the Prospectus Regulation Q&A PDF
814.87 KB
17/12/2021 ESMA70-156-4448 Q&As- Central Securities Depositories Regulation , Q&A PDF
597.56 KB
03/11/2020 ESMA71-99-1423 QA Fast Track Peer Review- Wirecard , , Q&A PDF
248.14 KB
17/12/2021 ESMA74-362-893 QAs on SFTR data reporting , , Q&A PDF
369.27 KB
09/11/2020 ESMA31-67-127 Question and answers on Transparency Directive (TD) , , , , Q&A PDF
352.79 KB
02/02/2018 ESMA70-151-1179 Questions and Answers ESMA CCP Stress Test Q&A PDF
694.47 KB
01/07/2015 2015/1005 Questions and Answers: Investment-based crowdfunding: money laundering/terrorist financing Q&A PDF
157.73 KB