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Date Ref. Title Section Type Download Info Summary Related Documents Translated versions
16/01/2015 2015 ESMA SFC MoU MoU between ESMA and SFC regarding CCPs Reference PDF
635.27 KB
14/09/2015 2015/1291 Risk Dashboard No. 3, 2105 Reference PDF
848.31 KB
14/09/2015 2015/1379 ESMA raises its market risk indicator to highest level , Press Release PDF
120.03 KB
17/11/2015 2015/1514 Note on MiFID-MiFIR implementation delays , Reference PDF
131.7 KB
22/12/2015 2015/1872 Press Release Cross Selling Guidelines Press Release PDF
156.66 KB

The European Securities and Markets Authority (ESMA) has published its Guidelines on Cross-Selling Practices under MiFID II (guidelines) to ensure investors are treated fairly when an investment firm offers two or more financial products or services as part of a package.

The guidelines include principles on:

  • improving disclosures when different products are cross-sold with one another;
  • requiring firms to provide investors with all relevant information in a timely and clear manner;
  • addressing conflicts of interest arising from remuneration models; and
  • improving client understanding on whether purchasing the individual products offered in a package is possible.

The European Supervisory Authorities (ESAs) – EBA, EIOPA and ESMA - initially intended to issue joint guidelines covering all cross-selling practices taking place in the banking, insurance and securities sectors given that cross-selling is often cross-sectoral, and had consulted the stakeholders previously on this basis.

However, in light of legal concerns, the ESAs decided not to issue joint guidelines on cross-selling practices but agreed that ESMA should issue ESMA-only guidelines under MiFID II in order to meet its 3 January 2016 deadline.

While ESMA’s guidelines take into account the results of the ESAs’ joint consultation, the final report focuses on the feedback regarding cross-selling practices under MIFID II. Further, the guidelines are addressed to national regulators supervising the firms which provide MiFID services, when they engage in cross-selling practices.

The ESAs intend to inform the European Commission about the issues encountered and raise the possibility of legislative change to provide a foundation for future joint guidelines.

The guidelines will apply from 3 January 2017.

16/12/2015 2015/1882 Risk Dashboard No. 4, 2015 Reference PDF
931.3 KB
25/02/2015 2015/495 ESMA publishes review on best execution supervisory practices under MiFID , , Press Release PDF
112.68 KB
The European Securities and Markets Authority (ESMA) has conducted a peer review on how national regulators (national competent authorities or NCAs) supervise and enforce the MiFID provisions relating to investment firms’ obligation to provide best execution, or obtain the best possible result, for their clients when executing their orders. ESMA found that the level of implementation of best execution provisions, as well as the level of convergence of supervisory practices by NCAs, is relatively low. In order to address this situation a number of improvements were identified, including: . prioritisation of best execution as a key conduct of business supervisory issue; . the allocation of sufficient resources to best execution supervision; and . a more proactive supervisory approach to monitoring compliance with best execution requirements, both desk-based and onsite inspections. The review was conducted on the basis of information provided by 29 NCAs and complemented by on-site visits to the NCAs of France, Liechtenstein, Luxembourg, Malta, Poland and Spain.
11/03/2015 2015/562 Press release- ESMA sees continued tense securities market conditions , Press Release PDF
141.95 KB
23/03/2015 2015/615 Call for interest IPISC-CWG renewal Reference PDF
187.49 KB
ESMA is today launching the process to renew the composition of the IPISC CWG. ESMA is therefore calling for expressions of interest from stakeholders. Application procedure, closing date Relevant stakeholders meeting the required selection criteria and wishing to apply for a position on the CWG are invited to submit, in English:. A completed application form (see separate document), and. A detailed curriculum vitae (CV), preferably in the EU CV format. It is optional for applicants to attach a motivation letter (2 pages maximum).. Unclear or incomplete applications will not be considered.. Applications must be submitted by email no later than 23 April 2015 to the following email addresses: IPISC.CWG.renewal2015@esma.europa.eu
16/11/2016 2016-1573 ESMA response to the Commission Consultation on a potential EU personal pension framework Reference PDF
102.55 KB
08/11/2016 2016/1053 Call for expressions of interest Consultative Working Group for ESMA’s Financial Innovation Standing Committee (FISC) , Reference PDF
304.37 KB
08/11/2016 2016/1053 FORM Application Form for FISC CWG , Reference DOCX
22.29 KB
13/07/2016 2016/1096 Risk Dashboard up-date 13 July 2016 Reference PDF
384.05 KB
25/07/2016 2016/1167 Press release- ESMA issues warning on sale of speculative products to retail investors Press Release PDF
147.01 KB
30/08/2016 2016/1236 Risk Dashboard No.3, 2016 Reference PDF
866.72 KB
30/08/2016 2016/1283 ESMA sees risk outlook deteriorate for EU securities markets , Press Release PDF
146.14 KB
04/10/2016 2016/1432 Press release- ESMA reports on shadow banking, leverage and pro-cyclicality , , Press Release PDF
151.69 KB
05/10/2016 2016/1438 ESMA consults on product governance guidelines to safeguard investors , Press Release PDF
152.24 KB
31/10/2016 2016/1529 ANNEX Annex I- Template for the assessment of collective suitability , Reference XLSX
54.43 KB
11/02/2016 2016/209 ToR CEMA Reference PDF
128.84 KB