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Date Ref. Title Section Type Download Info Summary Related Documents Translated versions
02/06/2016 2016/903 ESMA reminds firms of responsibilities when selling bail-in securities Press Release PDF
145.75 KB
09/11/2018 ESMA71-99-1057 ESMA renews binary options prohibition for a further three months from 2 January 2019 , Press Release PDF
126.47 KB
27/03/2019 ESMA71-99-1130 ESMA renews CFD measures from 1 May 2019 , Press Release PDF
103.57 KB
19/12/2018 ESMA71-99-1078 ESMA renews CFD measures from February 1 , Press Release PDF
172.74 KB
26/04/2016 2016/648 ESMA response to the Commission Green Paper on retail financial services Letter PDF
197.44 KB
07/02/2014 2014/152 ESMA tells firms to improve their selling practices for complex financial products , Press Release PDF
92.57 KB
The European Securities and Markets Authority (ESMA) has published an Opinion on practices to be observed by investment firms when selling complex financial products to investors. ESMA is issuing this opinion to remind national supervisors and investment firms about the importance of requirements governing selling practices under MiFID (Markets in Financial Instruments Directive).ESMA is issuing this Opinion as it is concerned that firms’ compliance with the MiFID selling practices when selling complex products may have fallen short of expected standards. The concerns relate mainly to the suitability and appropriateness of complex products that are increasingly within the grasp of retail investors. The Opinion sets out ESMA’s minimum expectations with respect to the conduct of firms when selling complex products to retail investors.Steven Maijoor, ESMA Chair, said: “Investment firms increasingly sell complex financial products such as warrants, different types of structured bonds, derivatives and asset-backed securities, which were previously accessible mainly to professional investors, to retail investors.“ESMA is concerned that this trend greatly increases the risk that customers do not understand the risks, costs and expected returns of the products they are buying. Therefore, we believe that it is crucial that investment firms act responsibly and in the best interest of their clients.“The level of concern regarding the risk posed by these products to investor protection when MiFID rules are not fully respected is such that we have also issued an EU-wide warning to investors in order to raise awareness about the risks arising from investing in these types of complex products.” The marketing and sale of complex financial products, in particular to retail investors, is an important investor protection area where ESMA wants to ensure a consistent approach to the application of the MiFID conduct business rules - thereby improving supervisory convergence.The areas covered by the Opinion relate to: firms’ organisation and internal controls; the assessment of the suitability or appropriateness of certain products; disclosures and communications in relation to products; and compliance monitoring of the sales functions.
24/08/2018 ESMA71-99-1026 ESMA to renew prohibition on binary options for a further three months , Press Release PDF
148.63 KB
18/02/2019 ESMA71-99-1057 ESMA to renew prohibition on binary options for a further three months Press Release PDF
129.84 KB
28/09/2018 ESMA71-99-1041 ESMA to renew restriction on CFDs for a further three months , Press Release PDF
148.81 KB
01/06/2018 ESMA71-99-973 ESMA71-99-973 Press Release Product Intervention EUOJ publication , , Press Release PDF
241.5 KB
09/12/2011 2011/431 Global regulators discuss OTC derivatives regulation , Press Release PDF
18.94 KB
Leaders and senior representatives of the authorities responsible for the regulation of the over-the-counter (OTC) derivatives markets in Canada, the European Union, Hong Kong, Japan, Singapore and the United Statesmet met yesterday in Paris.  
17/09/2012 2012/570 Guidelines on remuneration policies and practices (MiFID) Consultation Paper PDF
508.33 KB
06/10/2016 2016/1440 Guidelines on the calibration, publication and reporting of trading halts Consultation Paper PDF
946.62 KB
23/12/2015 2015/1909 Guidelines on Transaction Reporting Reference Data Order Record Keeping and Clock Synchronisation Consultation Paper PDF
3.46 MB

The European Securities and Markets Authority's (ESMA) consultation paper seeks stakeholders’ views on the draft guidance on the application of the provisions of the ESMA RTS on transaction reporting, instrument reference data, order record keeping and clock synchronisation (RTS 22, 23, 24 and 25). This guidance complements the technical standards and will be essential for the consistent implementation of the new MiFIR rules.

Section 1 specifies individual scenarios applicable to a given transaction reporting activity. Each of the scenarios is accompanied with the precise technical formats and schema to be used to represent the specific reportable values. Section 2 specifies scenarios applicable to specific order record keeping activities. In addition to the reporting and record keeping scenarios, these sections also provide a number of other clarifications on the application of the requirements under the new technical standards which were requested by the market participants during the consultations on the MiFID II technical standards but could not be addressed in the final technical standards due to the level of detail and specificity of such requests. Section 3 provides clarifications on the application of the clock synchronisation requirements.

ESMA will consider the feedback it received to this consultation in Q2 2016 and expects to publish in the second half of 2016.

01/10/2018 ESMA35-36-1442 IPISC UK withdrawal from the EU Letter Letter PDF
234.85 KB
28/10/2016 2016/1529 Joint ESMA and EBA Guidelines on the assessment of the suitability of members of the management body and key function holders , Consultation Paper PDF
1.13 MB
27/03/2019 ESMA70-156-907 Letter Chair to EU Commission on the MiFID Review Reports Letter PDF
136.73 KB
26/06/2019 ESMA70-156-1432 Letter Chair to O Guersent- Postponement of the first RTS 2 annual report Letter PDF
35.78 KB
02/05/2016 2016/672 Letter Commission- Opinions RTS 2 and RTS 21 Letter PDF
24.06 KB
21/03/2016 2016/403 Letter EU Comm Guersent- Ancillary Activity Letter PDF
96.03 KB