REFINE YOUR SEARCH
Type of document
|Date||Ref.||Title||Section||Type||Download||Info||Summary||Related Documents||Translated versions|
|07/04/2016||2016/584||Suitability Peer Review- Final Report||MiFID - Investor Protection, Supervisory convergence||Final Report||PDF
|07/04/2016||JC/2016/21||Final Draft RTS PRIIPs KID Report||Fund Management, Joint Committee||Final Report||PDF
|04/04/2016||2016/461||Final report on temporary exemption for ETDs under MiFID II||MiFID - Secondary Markets||Final Report||PDF
|17/03/2016||2016/348||Report on Trends, Risks and Vulnerabilities No.1, 2016||Risk Analysis & Economics - Markets Infrastructure Investors||Final Report||PDF
|09/03/2016||ESAs/2016/24||FeedbackTable CP1 and CP2 RTS OTC 01022016||Joint Committee||Final Report||PDF
|09/03/2016||ESAs/2016/23||Final Draft RTS on Risk Mitigation Techniques final||Joint Committee||Final Report||PDF
|09/03/2016||ESAs/2016/22||Annexes to RTS on Risk Mitigation LegisWrite||Joint Committee||Final Report||PDF
|09/03/2016||ESAs/2016/21||RTS on Risk Mitigation LegisWrite||Joint Committee||Final Report||PDF
|22/12/2015||2015/1861||Final report- Guidelines on cross-selling practices||MiFID - Investor Protection||Final Report||PDF
|22/12/2015||2015/WP/2015/2||Working Paper No.2, 2015 “Monitoring systemic risk in the hedge fund sector”||Risk Analysis & Economics - Markets Infrastructure Investors||Final Report||PDF
The working paper proposes new measures for systemic risk in the hedge fund sector. These measures are based on the ability of hedge funds to influence (be influenced by) the performance trend of the entire hedge fund sector. The proposed measures display a high ability to identify periods of financial distress, are robust to modifications in the underlying econometric model and deliver an innovation in the monitoring of systemic risks in the fund industry.
|18/12/2015||2015/1879||ESMA CRA Market Share Calculation||Credit Rating Agencies||Final Report||PDF
|17/12/2015||2015/1886||Final report on guidelines for the assessment of knowledge and competence||MiFID - Investor Protection||Final Report||PDF
Reasons for publication
1. Article 25(1) of Directive 2014/65/EU (MiFID II) states that Member States shall require investment firms to ensure and demonstrate to competent authorities on request that natural persons giving investment advice or providing information about financial instruments, investment services or ancillary services to clients on behalf of the investment firm possess the necessary knowledge and competence to fulfil their obligations under Article 24 and Article 25 .
2. The European Securities and Markets Authority is required by Article 25(9) of MiFID II to develop – by 3 January 2016 - guidelines specifying criteria for the assessment of knowledge and competence of investment firms’ personnel. The guidelines will come into effect on 3 January 2017.
3. In accordance with Article 16(2) of the ESMA Regulation, a consultation was launched on 23 April 2015. The Consultation Paper (CP) set out draft ESMA guidelines for the assessment of knowledge and competence of individuals in investment firms providing investment advice or information about financial instruments, investment services or ancillary services to clients on behalf of the investment firm. The consultation period closed on 10 July 2015.
4. ESMA received 80 responses. The answers received on the CP are available on ESMA’s website unless respondents requested otherwise.
5. As provided by Article 16 of the ESMA Regulation, ESMA also sought the advice of the Securities and Markets Stakeholder Group’s (SMSG).
6. This paper contains summaries of responses received and feedback statements provided by ESMA. ESMA recommends that this report should be read together with the CP published on 23 April 2015 to have a complete understanding of the rationale for the guidelines. The final guidelines presented in Annex VI take into account the comments and suggestions raised by respondents.
7. Section II briefly summarises the feedback to the CP and the main responses from ESMA.
8. Section III contains the Annexes: Annex I provides the Summary of questions, Annex II contains the legislative mandate, Annex III reports the cost-benefit analysis, Annex IV reports the Opinion of the Securities and Markets Stakeholder Group, Annex V details the feedback on the CP, Annex VI sets out the final text of the guidelines and Annex VII describes some illustrative examples of the application of certain aspects of the guidelines.
9. The final guidelines in Annex VI will be translated into the official EU languages and published on the ESMA website. The publication of the translations will trigger a two-month period during which National Competent Authorities (NCAs) must notify ESMA whether they comply or intend to comply with the guidelines.
|14/12/2015||EBA/Op/2015/20||Report on investment firms||Joint Committee||Final Report||PDF
|11/12/2015||2015/1858||Final Report- Draft ITS under MiFID II||MiFID - Secondary Markets||Final Report||PDF
|30/11/2015||2015/1783||Final Report on complex debt instruments and structured deposits||MiFID - Investor Protection||Final Report||PDF
|02/10/2015||2015/1473||Report on the Possibility of Establishing one or more Mappings of Credit Ratings Published on the European Rating Platform||Credit Rating Agencies||Final Report||PDF
|28/09/2015||2015-ESMA-1464 Annex II||Annex II- CBA- draft RTS and ITS on MiFID II and MiFIR||MiFID - Secondary Markets||Final Report||PDF
|14/09/2015||2015/1290||Report on Trends, Risks and Vulnerabilities No.2, 2015||Risk Analysis & Economics - Markets Infrastructure Investors||Final Report||PDF
|09/09/2015||JC/2015/053||Joint Committee Report on Risks and Vulnerabilities in the EU's financial markets- August 2015||Joint Committee||Final Report||PDF
|14/08/2015||BOA/2015/001||Decision of the Board of Appeal of the European Supervisory Authorities given under Article 60 of Regulation (EU) No 1094/2010 and the Board of Appeal’s Rules of Procedure (BOA 2012 002)||Joint Committee, Board of Appeal||Decision||PDF