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Date Ref. Title Section Type Download Info Summary Related Documents Translated versions
04/12/2012 2012/800 ESMA’s role in markets reform- Verena Ross, ESMA Executive Director , Speech PDF
147.98 KB
Verena Ross, ESMA Executive Director, delivered the keynote address at the ICI Global Trading and Market Structure Conference in London.
12/12/2012 2012/818 Opening statement at the ESMA Investor Day, by Steven Maijoor, Chair of ESMA Speech PDF
131.03 KB
ESMA organised its 2012 Investor Day on 12 December 2012. Steven Maijoor, Chair of ESMA, delivered the opening statement.
13/12/2012 2012/824 Written statement from the Chair of the European Securities and Markets Authority (ESMA) to the Agriculture Committee of the U.S. House of Repre-sentatives on the Dodd-Frank derivatives reform and the challenges facing U.S. and international markets Speech PDF
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11/03/2013 2013/279 Regulation of systemically important financial institutions and of the shadow banking system Speech PDF
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Regulation of systemically important financial institutions and of the shadow banking system - speech by Steven Maijoor, Chair, at the CDU/CSU congress in Berlin

11/03/2013 2013/279 "Regulation of systemically important financial institutions and of the shadow banking system"- speech by Steven Maijoor, Chair, at the CDU/CSU congress in Berlin , Speech PDF
102.94 KB
27/03/2013 2013/428 EMIR: A Fair Price for Safety and Transparency , Speech PDF
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EMIR: A Fair Price for Safety and Transparency - speech by Steven Maijoor, ESMA Chair, at the EMIR conference in the Hague

27/03/2013 2013/428 "EMIR: A Fair Price for Safety and Transparency"- speech by Steven Maijoor, ESMA Chair, at the EMIR conference in the Hague Speech PDF
113.31 KB
26/04/2013 2013/514 Towards an EU-Securities Market: Challenges for Banks. ESMA Executive Director, Verena Ross Speech PDF
84.88 KB
25 April 2013, National Bank of Belgium, Brussels European Banking Federation Conference – National Bank of Belgium        
24/05/2013 2013/603 ESAs—Achievement and Challenges, by Steven Maijoor, Chair of ESMA , Speech PDF
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  ESAs – Achievement and Challenges Public Hearing on Financial Supervision in the EU 24 May 2013, Brussels Speech by Steven Maijoor, Chair  

19/06/2013 2013/797 Keynote Speech- ISLA 22nd Annual Conference, Prague- Steven Maijoor, ESMA Chair Speech PDF
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Keynote Speech - ISLA 22nd Annual International Securities Lending Conference  19 June 2013, Prague Speech by Steven Maijoor, Chair
27/06/2013 2013/826 Keynote Speech- FESE Convention 2013, Berlin- Steven Maijoor, ESMA Chair Speech PDF
184.01 KB
02/10/2013 2013/1394 BWF/ICMA Capital Markets Conference, Key note address by ESMA Chair, Steven Maijoor Speech PDF
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17/10/2013 2013/1486 International coordination of the regulation and supervision of OTC derivatives markets- American Bar Association, Fall Conference 2013, London- Steven Maijoor, ESMA Chair Speech PDF
182.66 KB
05/11/2013 2013/1582 ESMA–Issues and Priorities, EFAMA Management Forum, Brussels- Steven Maijoor ESMA Chair Speech PDF
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ESMA – Issues and Priorities EFAMA Management Forum, Brussels Steven Maijoor, European Securities and Markets Authority Chair
11/11/2013 2013/1637 Keynote Speech at Financial Reporting Outlook (Ernst & Young) Conference, London , Speech PDF
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Steven Maijoor, Chair of the European Securities and Markets Authority (ESMA), delivered the keynote speech at the Ernst & Young Financial Reporting Outlook Conference in London.

25/02/2014 2014/224 Liquidity and new financial market regulation, European Market Liquidity Conference (AFME), London- Verena Ross, Executive Director Speech PDF
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28/03/2014 2014/337 Keynote speech at EuroFinUse Conference on the Better Finance Manifesto, Steven Maijoor ESMA Chair Speech PDF
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How to restore European household’s confidence in long term savings and investments Steven Maijoor, Chair of ESMA EuroFinUse Conference on The Better Finance Manifesto, Brussels Excerpt “Allow me to begin my thoughts by summarising the current situation of the European financial sector: The effects of the financial crisis and the subsequent EU sovereign debt problems still linger on. There are: expectations for further bank deleveraging, a reluctance in the private sector towards raising capital on equity and debt markets, and only slowly receding doubts among investors about the stability of financial markets. But the situation is improving: The progress on implementing the post-crisis regulatory reform agenda as well as addressing the sovereign-bank nexus are vital building blocks for fostering confidence in the markets. In addition, the recent economic stabilization – reflected by an expected growth rate of 1.5% for 2014 in the EU – is already starting to lift the spirits of entrepreneurs and their appetite to engage in additional investment. This newly revived appetite requires new funding, either intermediated by banks or from securities markets. As our banking systems are going through an important phase of transformation, markets and policy makers increasingly look to securities markets for fresh impulses. And I very much concur that we need to explore what funding opportunities we can develop through capital market financing.”
22/05/2014 2014/557 ESMA consults on MiFID reforms , , Press Release PDF
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The European Securities and Markets Authority (ESMA) has launched the consultation process for the implementation of the revised Markets in Financial Instruments Directive (MiFID II) and Regulation (MiFIR). This is the first step in the process of translating the MiFID II/MiFIR requirements into practically applicable rules and regulations to address the effects of the financial crisis and to improve financial market transparency and strengthen investor protection.MiFID II/MiFIR introduces changes that will have a large impact on the EU’s financial markets, these include transparency requirements for a broader range of asset classes; the obligation to trade derivatives on-exchange; requirements on algorithmic and high-frequency-trading and new supervisory tools for commodity derivatives. It will also strengthen protection for retail investors through limits on the use of commissions; conditions for the provision of independent investment advice; stricter organisational requirements for product design and distribution; product intervention powers; and the disclosure of costs and charges.MiFID II/MiFIR contains over 100 requirements for ESMA to draft Regulatory Technical Standards (RTS) and Implementing Technical Standards (ITS), and to provide Technical Advice to the European Commission to allow it to adopt delegated acts. In order to ensure that MIFID II achieves its objectives in practice, ESMA is publishing the following documents:1.    Consultation Paper on MiFID/MiFIR Technical Advice – ESMA needs to deliver this advice to the European Commission by December 2014 and is therefore subject to a condensed consultation process for this paper; and2.    Discussion Paper on MiFID/MiFIR draft RTS/ITS – this will provide the basis for a further consultation paper on the draft RTS/ITS which is expected to be issued in late 2014/early 2015. The closing date for responses to both papers is Friday 1 August. Steven Maijoor, ESMA Chair, said:“The launch of today’s MiFID II/MiFIR consultation process is an important step in the biggest overhaul of financial markets regulation in the EU for a decade. The reform of MiFID is an integral part of the EU’s strategy to address the effects of the financial crisis and aims to bring greater transparency to markets and to strengthen investor protection. These changes are key to restoring trust in our financial markets.“We appreciate the magnitude of this exercise for stakeholders. We strongly encourage all those affected by these reforms to provide their views to ensure that we take them into account in our final proposals.”The main issues covered in the Discussion and Consultation Paper are divided into those addressing the structure, transparency and regulation of financial markets, and those aimed at strengthening investor protection.Financial Markets Structure, Transparency and RegulationThe main proposals in this area cover the following issues: enhanced transparency and trading obligations - increasing pre- and post-trade transparency for many categories of instruments, e.g. shares, ETFs, certificates, bonds and derivatives, limitations to trade shares OTC and new obligations to trade derivatives on trading venues; micro-structural issues – refining the definition of high frequency trading and direct electronic access and specifying the requirements for operating in the market using algorithmic techniques; data publication and access – issues related to the development of the consolidated tape including requirements for tape providers, approved publication arrangements and reporting mechanisms, and the definition of a reasonable commercial basis for data sales; and the access to CCPs,  trading venues and benchmarks; other organisational requirements for trading venues; and commodity derivatives – new regulatory tools, including position limits. Investor ProtectionThe main proposals relating to the improved protection of retail investors include technical advice on: inducements – new limitations on the receipt of commissions (inducements); independent advice – clearly distinguishing independent from non-independent advice; product governance – requirements on the manufacture and distribution of financial products including target market and risk identification; product intervention/banning - introducing powers for both ESMA and national regulators to prohibit or restrict the marketing and distribution of certain financial instruments; and improved information on costs and charges – requirements to provide clients with details of all charges related to their investment (relating to both the investment service and the financial instrument provided) so they can understand the overall cost and its effect on their investment’s return. In addition, the draft regulatory technical standards in the investor protection area relate to the authorisation of investment firms, passporting, and certain best execution obligations.Next StepsESMA will hold three public hearings about secondary markets, investor protection and commodity derivatives issues on Monday 7 and Tuesday 8 July. Further details on the hearings will be published on ESMA’s website. 2014/548 2014/549
05/06/2014 2014/607 Keynote Speech- Steven Maijoor, ESMA Chair at ICMA Annual Conference, Berlin Speech PDF
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Steven Maijoor, ESMA Chair, today delivered the keynote address at the International Capital Markets Association Annual General Meeting and Conference in Berlin. In the course of his speech he outlined the key elements needed to ensure the success of the EU's regulatory reform agenda: (excerpt) "1.    The EU single rule book for financial markets needs to be implemented and supervised. Implementing measures like technical standards are needed to ensure that the legislation works in practice and the rules need to be subject to credible supervision; and 2.    Supervisory convergence between the 28 EU member states is needed to ensure that the single rule book also results in a truly single EU financial market. Differences in supervision, and regulatory competition, will undermine the achievement of the objectives of stability and investor protection." While he specifically focused on the issues of financial inducements under MiFID II and collateral liquidity.
10/06/2014 2014/619 Keynote Speech- Steven Maijoor, ESMA Chair, at IBA Conference on the Globalisation of Investment Funds, Paris Speech PDF
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Steven Maijoor, ESMA Chair, delivered a keynote address to the International Bar Association's 25th Annual Conference on the Globalisation ofInvestment Funds in Paris. His speech focused on concentrated on potential financial stability risks linked to the phenomenon of "too big to fail" and the fund management industry and also on policy developments affecting the fund management industry. Excerpt "Addressing potential systemic risks in asset management will be an important part of our work going forward. As we develop our insights into the risks in the industry, it is clear that asset management has a specific profile that sets it apart from banking and other financial activities. This implies that the lens through which we see stability risks in banking and insurance, might not be the right one for asset management. Our proposal in this debate, therefore, is that in addition to looking at individual institutions, we must include in our analysis the very different types of activities of the asset management sector and their interdependence with systemic risks in the wider financial market."