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Date Ref. Title Section Type Download Info Summary Related Documents Translated versions
03/09/2013 2013/1158 Technical advice on third country regulatory equivalence under EMIR – Japan Technical Advice PDF
3.76 MB
03/09/2013 2013/1159 Technical advice on third country regulatory equivalence under EMIR – Australia Technical Advice PDF
3.82 MB
03/09/2013 2013/1161 Technical advice on third country regulatory equivalence under EMIR – Singapore Technical Advice PDF
3.55 MB
03/09/2013 2013/1162 Technical advice on third country regulatory equivalence under EMIR – Switzerland Technical Advice PDF
3.65 MB
03/09/2013 2013/1160 Technical advice on third country regulatory equivalence under EMIR – Hong Kong Technical Advice PDF
3.57 MB
02/10/2013 2013/1372 ESMA Technical advice on equivalence of Singapore for TRs (Supplement) Technical Advice PDF
500.37 KB
02/10/2013 2013/1369 ESMA Technical advice on equivalence of Hong Kong for OTC and TR (Supplement) Technical Advice PDF
124.15 KB
02/10/2013 2013/1371 ESMA Technical advice on equivalence of South Korea for CCPs Technical Advice PDF
1.83 MB
29/10/2013 2013/1545 14th Extract from the EECS' database of enforcement Report PDF
355.57 KB

The European Securities and Markets Authority (ESMA) is publishing extracts from its confidential database of enforcement decisions on financial statements, with the aim of providing issuers and users of financial statements with relevant information on the appropriate application of the International Financial Reporting Standards (IFRS). European enforcers monitor and review financial statements published by issuers with securities traded on a regulated market who prepare their financial statements in accordance with International Financial Reporting Standards (IFRS) and consider whether they comply with IFRS and other applicable reporting requirements, including relevant national law. Publication of enforcement decisions will inform market participants about which accounting treatments European national enforcers may consider as complying with IFRS; that is, whether the treatments are considered as being within the accepted range of those permitted by IFRS. Such publication, together with the rationale behind these decisions, will contribute to a consistent application of IFRS in the EEA.

18/11/2013 OJ/06/11/2013-PROC/2013/007 Training services for ESMA (Deadline for submission: [UPDATED] new deadline 27/01/2014) CLOSED Procedure PDF
763.67 KB
Tender: Training services for ESMA New Deadline for submission: 27/01/2014 Invitation to tender (be updated deadline is 27/01/2014) Framework Service Contract with ESMA Contract notice Corrigendum – Change of Deadline Questions and Answers 1 Questions and Answers 2
21/11/2013 2013/1703 Technical Advice on the feasibility of a network of small and medium-sized CRAs Technical Advice PDF
601.05 KB
The European Securities and Markets Authority (ESMA) has finalised its Technical Advice to the European Commission on the feasibility of a network of small and medium sized credit rating agencies in order to increase competition in the market. The technical advice provides quantitative and qualitative information on small and medium-sized CRAs in the EU, based on the analysis of the periodic reporting obligations of CRAs to ESMA via the central repository CEREP. It also covers some information regarding possible barriers to entry for companies that wish to conduct rating activity in the EU. Contents The main findings of the advice are: • The 22 registered CRAs are established in 11 EU Member States; • None of the small and medium-sized CRAs cover the whole range of the five rating classes considered (corporates (non-financial), financials, insurance, sovereign and public finance, and structured finance). Whilst DBRS and BCRA cover four and three classes respectively, all the remaining small and medium-sized CRAs cover one or two rating classes only. This contrasts with Fitch, Moody’s and S&P that issue ratings for all five possible rating classes; • Small and medium-sized CRAs are mainly active in issuing corporate ratings. Within this rating type, four small and medium-sized CRAs issue a relatively high number of corporate ratings (CERVED and ICAP) or financial and insurance ratings (GBB and AM Best); • Only 6 of the small and medium-sized CRAs provide sovereign ratings (BCRA, Capital Intelligence, DBRS, European Rating, Feri Euro Rating (Feri) and Japan Credit Rating Agency (JCR)), whilst only one (DBRS) issues structured finance ratings; • As of end 2012 the majority of small and medium-sized CRAs issued solicited ratings only, whilst eight issued unsolicited ratings only. Three small and medium-sized CRAs (DBRS, JCR, and Scope) issued both solicited and unsolicited ratings, as was the case also for Fitch, Moody’s and S&P; • As regards geographical coverage of the small and medium-sized CRAs 6 out of 19 (AM Best, Capital Intelligence, Creditreform, DBRS, JCR and Scope) have a coverage that goes beyond one Member State when referring to corporate ratings. As regards the sovereign ratings type, three of the small and medium-sized CRAs cover more than one Member State (Capital Intelligence, Feri and JCR). In both of these ratings types, Fitch, Moody’s and S&P’s rating activities cover all Member States of the EU; • In 2013, 96% of the supervisory fees were paid by S&P, Moody’s, and Fitch, while their turnover from rating and ancillary services was equal to 88% of the total turnover of the 20 registered and certified CRAs in 2012: and • As of July 2013, 14 out of 19 small and medium-sized CRAs have been granted at least one of the regulatory exemptions provided for in the CRA Regulation. Finally, and with reference to the current situation in the segment of small and medium-sized CRAs, ESMA is not aware of any private networks of small and medium-sized CRAs currently in place.
09/12/2013 OJ/25/11/2013-PROC/2013/008 Economic and Financial Databases (Deadline for submission: [UPDATED] new deadline 20/02/2014) CLOSED Procedure PDF
228.75 KB
Tender: Economic and Financial Databases Tender Specifications (UPDATED DEADLINE and LOT 10 UPDATED) Annex I Draft Framework Service Contract with ESMA Contract notice Ref. 2013/S 236-409027 Invitation to tender (be updated deadline is 20/02/2014) Annex X Corrigendum – Change of Deadline Questions and Answers 1 Questions and Answers 2 Questions and Answers 3 – NEW INFO LOT 10 Questions and Answers 4 Draft Service Quality Plan
17/12/2013 OJ/05/12/2013-PROC/2013/009 Consultancy Services (Deadline for submission: [UPDATED] new deadline 20/02/2014) CLOSED Procedure PDF
597.92 KB
Consultancy – Invitation Letter (new deadline 20/02/2014) Tender Specifications (updated with track changes and new deadline) Consultancy Annex I Consultancy Annex VII Consultancy Annex X (updated with track changes) Consultancy Annex XII Consultancy Annex XIII (updated with track changes) Consultancy Questions and Answers 1 (Deadline updated) Consultancy Questions and Answers 2 (Deadline updated) Consultancy Questions and Answers 3 Consultancy Questions and Answers 4 Corrigendum to Contract Notice (Deadline Extension)
19/12/2013 2013/1953 Technical Advice to the European Commission on the equivalence between the Argentinean regulatory and supervisory framework and the EU regulatory regime for CRAs Technical Advice PDF
143.15 KB
20/01/2014 2014/45 Production of ESMA’s 2013 Annual Report CLOSED Procedure PDF
36.6 KB
Description of required services / products ESMA is seeking a creative agency to produce its annual report for 2013 of approx. 100 pages. Description of Contract – Contract value and duration The production of EMSA’s annual report includes its layout, graphic design, printing and posting. The contract period is from February to June 2014. Companies are asked to state a total fixed price in Euro. Prices quoted must be exclusive of all taxes (ex-cluding VAT), shall be firm and not subject to revision. The total fixed price must include professional fees, travel and any subsistence costs. The indicative total budget for this assignment is: € 20,000 – 30,000. Selection criteria - Conditions for participation ESMA seeks an experienced graphic design company to layout and produce its ESMA’s annual 2013 re-port. The company should: be a communications/graphic design agency with a good knowledge in conceiving, designing and managing the production of (printed) reports; have proven experience in producing annual reports (ideally incl. for the public sector); be able to provide a project team that can communicate and review text in English; be physically available for at least two face-to-face meetings in Paris during the planning phase and if necessary further meetings during the production of the annual report; be able to react quickly and provide on-going support (via phone and/ or e-mail) throughout the project. How to obtain the full Invitation to Tender Should you be interested in participating in this tender, please request the full tender documentation by sending an e-mail with the tender reference to: Sabrina.Bellaouel@esma.europa.eu Date: 20 January 2014 ESMA/2014/45
24/01/2014 2013/1965 Technical Advice to the Commission on procedural rules to impose fines and periodic penalty payments to Trade Repositories Technical Advice PDF
385.87 KB

Reasons for publication On 29 of April 2013 ESMA received a formal request from the European Commission (the Commission) to provide technical advice to assist the Commission in formulating procedural rules to impose fines and periodic penalty payments to trade repositories (TRs) by delegated act. In order to deliver its advice to the Commission, ESMA consulted market participants regarding the procedural rules to impose fines and periodic penalty payments to TRs. Respondents to the consultation were encouraged to provide the relevant information in support of their arguments or proposals. ESMA published the consultation on 18 October 2013. The market participants could provide their comments until 15 November 2013. In total ESMA received two responses to the consultation. The respondents have required confidential treatment for their input. ESMA would like to thank respondents for providing input. Contents This document sets out a summary of the responses received by ESMA regarding the procedural rules to impose fines and periodic penalty payments to TRs and includes ESMA’s final technical advice to the Commission on the future Regulation on the procedural rules to impose fines and periodic penalty payments to TRs which will be adopted by the Commission in the form of a delegated act. It is worth noting that all major ESMA proposals were supported by respondents and where comments were received ESMA has considered them carefully. Next steps ESMA will follow-up on this work with the Commission towards the adoption of the Commission delegated regulation on procedural rules to impose fines and periodic penalty payments to TRs.

30/01/2014 2014/123 ESMA Technical advice on equivalence of Japan for CCP II- Commodities CCPs Technical Advice PDF
3.33 MB

ESMA delivers second set of advice on EMIR equivalence Following its technical advice published on 9 September 2013, the European Securities and Market Authority (ESMA) has published a supplement to its advice to the European Commission on the equivalence of the regulatory regime for central counterparties (CCPs) of Japan with the European Markets Infrastructure Regulation (EMIR). This supplement to the September 2013 Final report sets out ESMA’s advice to the European Commission is in respect of the equivalence between the Japanese regulatory regime for commodity CCPs and the regulatory regime for CCPs under EMIR. ESMA proposes conditional equivalence As for ESMA’s advice to the Commission in respect of Japan for CCPs which clear transactions relating to securities, currencies, interest rates, credit, weather, GDP and other indices, ESMA considers that the Japanese regulatory regime for commodity CCPs contains legal provisions and involves supervision and enforcement similar to that of EMIR. The Commission is expected to use ESMA’s technical advice to prepare possible equivalence decisions. Where it adopts such a decision, certain provisions of EMIR may be disapplied in favour of equivalent third-country rules. In particular, ESMA may recognise within the EU a CCP which is authorised outside the EU. The different pieces of advice are available on ESMA’s website.

14/02/2014 PROC/2014/003 Market Abuse Regulation technical standards data gathering and cost analysis (Deadline for submission: 21/02/2014) CLOSED Procedure PDF
156.01 KB
Low Value Negotiated Tender  
18/02/2014 PROC/2014/002 Logistics Outsourcing Services (Deadline for submission: 01/04/2014) CLOSED Procedure PDF
127.17 KB
Invitation Letter Tender Specifications Outsourcing Logistics Services Annex I Outsourcing Logistics Servicesproc Annex VII Questions and Answers I
27/03/2014 2014/312 Technical advice to the European Commission on the information that competent authorities should provide to ESMA pursuant to Article 67(3) of the AIFMD Technical Advice PDF
330.79 KB
Reasons for publication ESMA is issuing this technical advice in response to the mandate received from the European Commission on 20 December 2013 for advice on the possible content of the delegated act required by Article 67(5) of the AIFMD, concerning the information that EU competent authorities have to provide quarterly to ESMA pursuant to Article 67(3) of the Directive. This information is needed in order to allow ESMA to produce the opinion and the advice required in Article 67(1) of the AIFMD, in relation to the possible extension of the AIFMD passport to non-EU AIFs and non-EU AIFMs. Contents Section II describes the background of the proposal. Section III specifies the timing for the provision of the information to ESMA and lists the information that the competent authorities should provide quarterly to ESMA. The list of information is divided into three parts: the first refers to the information about the functioning of the passport for EU AIFMs; the second deals with the functioning of the national private placement regime for non-EU AIFs and non-EU AIFMs; and the third refers to the issues arising from the functioning of both systems. Finally, Section IV reproduces the mandate for advice issued by the European Commission. Next steps ESMA will cooperate closely with the European Commission in order to facilitate an expeditious adoption of the delegated act required by Article 67(5) of the AIFMD.