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Date Ref. Title Section Type Download Info Summary Related Documents Translated versions
05/06/2015 2015/913 Letter to the EFRAG on IASB’s Proposed Amendments to IAS 1 Letter PDF
30.16 KB
05/06/2015 2015/912 Letter to the IASB on IASB’s Proposed Amendments to IAS 1 Letter PDF
29.93 KB
05/06/2015 2015/910 Letter to IFRS IC on Tentative Agenda Decision on IFRIC 14 Letter PDF
25.35 KB
21/05/2015 2015/857 ESMA response to the European Commission consultation on the review of the Prospectus Directive , Letter PDF
241.24 KB
21/05/2015 2015/856 Ann1 Investment-based crowdfunding- Insights from regulators in the EU Final Report PDF
319.65 KB
07/04/2015 2015/666 ESMA's comment letter regarding the IASB’s Exposure Draft Disclosure Initiative Letter PDF
241 KB
07/04/2015 2015/667 ESMA's comment letter to the EFRAG regarding the IASB’s Exposure Draft Disclosure Initiative Letter PDF
242.59 KB
31/03/2015 2015/659 ESMA Report on Enforcement and Regulatory Activities of Accounting Enforcers in 2014 , Final Report PDF
633.7 KB
09/02/2015 2015/261 Letter to EFRAG on IASB ED Amendments to IFRS 2 Letter PDF
69.37 KB
09/02/2015 2015/260 Letter to IASB ED Amendments to IFRS 2 Letter PDF
59.8 KB
16/01/2015 2015/60 Letter to the IFRS IC tentative agenda decision related to IFRS 11 Joint Arrangements Letter PDF
43.36 KB
12/01/2015 2015/25 Letter to EFRAG on the IASB's DP Reporting the Financial Effects of Rate Regulation Letter PDF
141.57 KB
12/01/2015 2015/24 Letter to the IASB DP Reporting the Financial Effects of Rate Regulation Letter PDF
141.54 KB
18/12/2014 2014/1560 Advice- Investment-based crowdfunding Final Report PDF
482.2 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 sections 1 to 6 of this document.
08/12/2014 2014/1452 Letter to the EFRAG DCL on IASB ED Measuring Quoted Investments in Subsidiaries JV and Associates at FV Letter PDF
87.2 KB
08/12/2014 2014/1451 Letter to the IASB ED Measuring Quoted Investments in Subsidiaries JV and Associates at FV Letter PDF
83.88 KB
08/12/2014 2014/1450 Letter to the EFRAG DCL on IASB ED Recognition of DTA for Unrealised Losses Letter PDF
62.94 KB
08/12/2014 2014/1449 Letter to the IASB ED Recognition of DTA for Unrealised Losses Letter PDF
62.9 KB
24/11/2014 2014/1396 Letter to the IFRS IC TAD on IFRS 12 Letter PDF
36.36 KB
24/11/2014 2014/1395 Letter to the IFRS IC TAD on levies Letter PDF
37.81 KB