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Date Ref. Title Section Type Download Info Summary Related Documents Translated versions
25/09/2018 ESMA50-165-651 ESMA working paper on liquidity in EU fixed income markets – Risk indicators and EU evidence Report PDF
1.06 MB
06/09/2018 ESMA 50-165-633 ESMA Risk Dashboard No. 3 2018 Report PDF
931.94 KB
06/06/2018 ESMA50-165-584 ESMA Risk Dashboard No. 2 2018 Report PDF
933.6 KB
01/06/2018 ESMA50-162-215 Product Intervention Analysis CFDs , Report PDF
1.26 MB
01/06/2018 ESMA50-162-214 Product Intervention Analysis Binary Options , Report PDF
776.15 KB
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) Q&A PDF
536.17 KB
20/03/2018 ESMA71-99-957 Press release: High risks persist for European securities markets and investors, ESMA says Report PDF
166.64 KB
20/03/2018 ESMA50-165-539 ESMA risk dasbhboard 1, 2018 Report PDF
903.76 KB
09/02/2018 ESMA20-95-839 Risk Assessment Work Programme 2018 Report PDF
452.74 KB
11/01/2018 ESMA80-196-954 Thematic Report- On fees charged by Credit Rating Agencies and Trade Repositories , Report PDF
1.14 MB
05/12/2017 ESMA50-165-498 ESMA Risk Dashboard No 4 2017 Report PDF
976.96 KB
12/09/2017 ESMA50-165-413 ESMA Risk Dashboard No.3 2017 Report PDF
868.91 KB
14/06/2017 ESMA50-165-331 ESMA Risk Dashboard 1Q2107 Report PDF
744.43 KB
07/06/2017 ESMA50-158-457 ESMA response to the Commission Consultation Paper on Fintech: A more competitive and innovative financial sector Report PDF
712.26 KB
  1. ESMA welcomes the opportunity to respond to the Commission Consultation paper on Fintech: a more competitive and innovative financial sector (hereafter “the Consultation”).
  2. Fintech and, technological innovation in general, have been the drivers of a number of developments in the financial sector in recent years. Indeed, new forms of services and businesses such as automated advice or crowdfunding have emerged. ESMA sees these developments as a positive evolution as long as they are aimed at improving consumer financial experience and facilitate financial inclusion. ESMA would also want to stress that it adheres to the core principles (technological neutrality, proportionality and market integrity) highlighted by the Commission and agrees that any EU policies aiming to ensure the financial sector takes advantage of cutting-edge technologies, while remaining sound and safe for investors, need to integrate these principles.
  3. In this response, ESMA wishes to share with the Commission some reflections on a number of topics mentioned in the Consultation which appear relevant to ESMA:
    • Artificial intelligence and big data analytics for automated advice and businesses;
    • Crowdfunding;
    • Reg Tech;
    • Outsourcing and cloud computing;
    • Distributed ledger technology;
    • Role of regulation and supervisors; and
    • Role of industry: standards and interoperability
07/02/2017 ESMA50-1121423017-285 Report on Distributed Ledger Technology Applied to Securities Markets Report PDF
508.75 KB
03/02/2017 ESMA80-1467488426-27 Supervision Annual Report 2016 and Work Programme 2017 , Report PDF
2.49 MB
04/10/2016 2016/1415 ESMA reporton on securities financing transactions and leverage in the EU , Report PDF
1.94 MB
06/06/2016 2016/743 Multi-venue trading increases liquidity in EU equity markets despite duplicate orders , Report PDF
247 KB
06/06/2016 2016/907 Economic Report on order duplication and liquidity measurement in EU equity markets Report PDF
1.44 MB
05/02/2016 2016/234 ESMA’s supervision of credit rating agencies and trade repositories- 2015 annual report and 2016 work plan. , Report PDF
2.08 MB

The European Securities and Markets Authority’s (ESMA) annual report and work programme has been prepared according to Article 21 of Regulation 1060/2009 on credit rating agencies as amended (the CRA Regulation) and Article 85 of Regulation 648/2012 on OTC derivatives, central counterparties and trade repositories (EMIR). It highlights the direct supervisory activities carried out by ESMA during 2015 regarding credit rating agencies (CRAs) and trade repositories (TRs) and outlines ESMA’s main priorities in these areas for 2016.

ESMA adopts a risk-based approach to the supervision of CRAs and TRs in accordance with its overall objectives of promoting financial stability and orderly markets and enhancing investor protection. This risk-based approach requires the analysis of information from a variety of sources and the application of multiple supervisory tools including day-to-day supervision, cycle of engagement meetings with supervised entities, on-site inspections and dedicated investigations.

In order to build on the expertise that ESMA has developed through its supervision of CRAs and TRs, ESMA created a single Supervision Department in November 2015. ESMA intends to draw on the best practices identified from the supervision of both types of entity to further enhance its supervisory effectiveness in future.