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|Date||Ref.||Title||Section||Type||Download||Info||Summary||Related Documents||Translated versions|
|08/10/2018||ESMA22-105-588||Opening Statement for ECON Hearing on 8 October 2018||Corporate Information||Statement||PDF
|31/07/2014||2014/944||Potential Risks Associated with Investing in Contingent Convertible Instruments||Warnings and publications for investors, Innovation and Products||Statement||PDF
|The European Securities and Markets Authority (ESMA) is issuing this statement to clarify to institutional investors risks from a newly emerging asset class referred to by most market participants as contingent convertibles instruments (CoCos). If they work as intended in a crisis CoCos will play an important role to inhibit risk transfer from debt holders to taxpayers. They along with standards to improve the quality and quantity of bank capital reflect a considerate response to the former regulatory capital framework. However, it is unclear as to whether investors fully consider the risks of CoCos and correctly factor those risks into their valuation. ESMA believes there are specific risks to CoCos and that investors should take those risks into consideration prior to investing in these instruments.|
|28/06/2017||ESMA35-36-885||Product Intervention- General Statement||Innovation and Products, MiFID - Investor Protection||Statement||PDF
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 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.
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.
 ESMA/2016/1166 Warning about CFDs, binary options and other speculative products published 25 July 2016
|21/07/2016||2016/1159||Public notice- Infrigement by Fitch||Credit Rating Agencies, Press Releases||Statement||PDF
|01/06/2017||ESMA71-99-466||Public Notice- Moody's Germany and Moody's United Kingdom||Board of Supervisors||Statement||PDF
|28/06/2022||ESMA91-398-5595||Public Statement FICC and OCC June 2022||CCP Directorate, Press Releases||Statement||PDF
|10/03/2011||2011/11||Public statement of consultation practices||Corporate Information||Statement||PDF
|03/04/2020||ESMA34-39-969||Public Statement of Consultation Practices||Board of Supervisors, Corporate Information||Statement||PDF
|16/05/2022||ESMA34-45-1633||Public statement on actions to manage the impact of the Russian invasion of Ukraine on investment fund portfolios||Fund Management||Statement||PDF
|19/03/2019||ESMA65-8-6254||Public statement on Brexit Data Operational Plan||Brexit, MiFID II: Transparency Calculations and DVC||Statement||PDF
|09/07/2020||ESMA34-39-109||Public statement on external support within the meaning of Article 35 of the MMF Regulation||COVID-19, Fund Management||Statement||PDF
|25/11/2011||2011/397||Public statement on sovereign debt in IFRS financial statements||Corporate Disclosure, Corporate Governance, IFRS Supervisory Convergence, Press Releases||Statement||PDF
|06/01/2021||ESMA32-339-149||Public Statement Targeted Longer-Term Refinancing Operations III||Corporate Finance||Statement||PDF
|11/08/2011||2011/266||Public statement- harmonised regulatory action on short-selling in the EU||Short Selling, Press Releases||Statement||PDF
|02/02/2016||2016/165||Public Statement- Supervisory work on potential closet index tracking||Fund Management||Statement||PDF
The European Securities and Markets Authority (ESMA) is issuing this statement to inform stakeholders and especially investors about the potential for some European collective investment funds to be ‘closet index trackers’, and to give details on the work that ESMA has been doing in this context.
Reasons for issuing this statement
 ESMA recognises that management fees may depend on a number of factors.
|01/04/2022||ESMA32-51-370||Q&A on ESMA Guidelines on Alternative Performance Measures||Corporate Disclosure, Corporate Information||Q&A||PDF
|11/04/2019||ESMA31-62-780||Q&A on Prospectus Related Topics||Brexit, Corporate Disclosure, Corporate Finance, Corporate Governance, Corporate Information, Prospectus, Supervisory convergence||Q&A||PDF
|20/07/2022||ESMA34-32-352||Q&A on the Application of the AIFMD||Fund Management, Supervisory convergence||Q&A||PDF
|31/05/2016||2016/774||Q&A on the Application of the EuSEF and EuVECA Regulations||Fund Management||Q&A||PDF
|20/07/2022||ESMA34-43-392||Q&A on the application of the UCITS Directive||Fund Management||Q&A||PDF