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Date Ref. Title Section Type Download Info Summary Related Documents Translated versions
29/11/2017 ESMA42-111-4285 Peer review on certain aspects of the compliance function under Mi-FID I , Final Report PDF
1.25 MB
27/10/2017 ESMA32-63-340 Public Statement on European common enforcement priorities for 2017 IFRS financial statements , Statement PDF
287.62 KB
29/09/2017 ESMA70-156-227 Final report on draft RTS on the trading obligation for derivatives under MiFIR Report PDF
609.23 KB
29/09/2017 ESMA71-99-602 ESMA appoints new chairs to Standing Committees , , , , , , , Statement PDF
143.69 KB
28/09/2017 ESMA70-154-266 Guidelines on the management body of market operators and data reporting service providers , Final Report PDF
546.29 KB
28/09/2017 ESMA70-154-356 Public statement- Joint work plan of ESMA and NCAs for opinions on MiFID II pre-trade transparency waivers and position limits Statement PDF
165.66 KB
12/07/2017 ESMA32-67-284 Review of Fair Value Measurement in the IFRS financial statements , Report PDF
1.58 MB
28/06/2017 ESMA35-36-885 Product Intervention- General Statement , Statement PDF
123.04 KB

This statement provides an update on the European Securities and Markets Authority’s (ESMA) work in relation to the sale of contracts for differences (CFDs), binary options and other speculative products to retail investors.

 

ESMA has been concerned about the provision of speculative products such as CFDs, rolling spot forex and binary options to retail investors for a considerable period of time and has conducted ongoing monitoring and supervisory convergence work in this area. In this context, ESMA has previously published a number of Q&As on CFDs and other speculative products[1] to foster supervisory convergence, having established a CFD Task Force in July 2015, and also issued a further investor warning on the sale of CFDs, binary options and other speculative products in July 2016[2].

 

However, ESMA remains concerned that these supervisory convergence tools may not be sufficiently effective to ensure that the risks to consumer protection are sufficiently controlled or reduced. ESMA is therefore discussing the possible use of its product intervention powers under Article 40 of MiFIR to address investor protection risks in relation to CFDs, rolling spot forex and binary options.

 

ESMA is in the process of discussing the possible use of its product intervention powers under Article 40 of MiFIR, the possible content of any such measures, and how they could be applied. However, ESMA can confirm that the measures being discussed for (i) CFDs and rolling spot forex and (ii) binary options include proposals that take into account a number of measures that have been adopted or publicly consulted on by EU National Competent Authorities. These measures include leverage limits, guaranteed limits on client losses, and / or restrictions on the marketing and distribution of these products.

 

In accordance with Article 40 of MiFIR, any intervention measures must be approved by the ESMA Board of Supervisors and can only come into effect from 3 January 2018 at the earliest[3].

02/06/2017 ESMA35-43-620 Final report on guidelines on MiFID II product governance requirements Final Report PDF
713.52 KB
10/04/2017 ESMA32-51-382 Enforcement and Regulatory Activities of Accounting Enforcers in 2016 Report PDF
657.13 KB

The report provides an overview of the activities of the European Securities and Markets Authority (ESMA) and the accounting enforcers in the European Economic Area (EEA), hereafter ‘European enforcers’, when examining compliance of financial information provided by issuers with IFRS in 2016. It also provides an overview of the main activities performed at European level, quantitative information on enforcement activities in Europe as well as ESMA’s contribution to the development of the single rulebook in the area of financial reporting. In addition, it also outlines ESMA’s activities for 2017 in the area of corporate reporting following its Supervisory Convergence Work Programme.

06/04/2017 ESMA70-872942901-17 Final report on Guidelines on the calibration of circuit breakers and the publication and reporting of trading halts under MiFID II Final Report PDF
887.97 KB
31/03/2017 ESMA/2017/70-8792942901-40 Final report on Draft RTS specifying the scope of the consolidated tape for non-equity financial instruments Report PDF
644.29 KB
28/02/2017 ESMA70-872942901-21 Final report on draft RTS on package orders for which there is a liquid market Report PDF
712.46 KB
11/01/2017 ESMA42-1643088512-2962 ESMA42-1643088512-2962 Follow-up Report to the Peer Review on Best Execution , , Report PDF
774.17 KB
21/12/2016 2016/1668 2016-1668 ESMA feedback statement on ESEF , , Report PDF
6.98 MB
10/11/2016 2016-1563 Issues for consideration in implementing IFRS 9: Financial Instruments , , Statement PDF
256.22 KB
28/10/2016 ESMA/2016/1528 European common enforcement priorities for 2016 financial statements , , Statement PDF
317.18 KB
10/10/2016 2016/1451 Final Report- Guidelines on transaction reporting, order record keeping and clock synchronisation under MiFID II , Final Report PDF
388.3 KB
30/09/2016 2016/1408 ESMA appoints new chairs to Standing Committees , , , Statement PDF
141.3 KB

The Board of Supervisors of the European Securities and Markets Authority (ESMA) has appointed the following individuals to serve as chairs of its standing committees:

  • Hannelore Lausch, Executive Director of the Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin), Germany, will chair the Market Data Standing Committee;
  • Cyril Roux, Deputy Governor of the Central Bank of Ireland (CBI, will chair the Investment Management Standing Committee; and
  • Merel van Vroonhoven, Chair of the Autoriteit Financiële Markten (AFM), Netherlands, will chair the Investor Protection and Intermediaries Standing Committee.

The standing committees are expert groups drawn from ESMA staff and the national competent authorities for securities markets regulation in the Member States, and are responsible for the development of policy in their respective areas.  The appointments are for a period of two years and commence with immediate effect.

28/07/2016 2016/1170 Report on EEA prospectus activity in 2015 , Report PDF
674.63 KB