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Date Ref. Title Section Type Download Info Summary Related Documents Translated versions
04/04/2016 2016/220 ToR FISC Reference PDF
90.34 KB
04/04/2016 2016/223 ToR IMSC Reference
04/04/2016 2016/226 ToR ITMG Reference PDF
116.21 KB
06/04/2016 2016/570 RF Reply Form DP SC Reference DOCX
786.46 KB
02/06/2016 2016/773 RF Reply form for the Discussion Paper on the Distributed Ledger Technology Applied to Securities Markets , Reference DOCX
755.79 KB
15/07/2016 2016/1137 reply form Reply form to the Consultation paper on Asset Segregation Reference DOCX
879.64 KB
12/09/2016 2016/1140 Final advice on AIFMD passport Technical Advice PDF
621.95 KB

This version of the advice includes the following clarifications with respect to the assessment of the Isle of Man:

  • the Isle of Man underwent an assessment by the International Monetary Fund (IMF) in 2003 and 2009 as part of the Financial Sector Assessment Program (FSAP); and
  • the self-assessment carried out by the Isle of Man Financial Services Authority in 2013 was an assisted self-assessment.
08/11/2016 2016/1053 FORM Application Form for FISC CWG , Reference DOCX
22.29 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
01/02/2017 IMSC CWG Application Form Feb 2017 IMSC CWG Application Form Feb 2017 Reference PDF
198.5 KB
01/02/2017 ESMA34-47-86 IMSC CWG Call for Candidates Feb 2017 Reference PDF
270.61 KB
07/03/2017 FI17 Agenda Financial Innovation Day 2017 Reference PDF
598.1 KB
11/05/2017 ESMA32-60-172 Invitation to the ESMA European Single Electronic Format Meet-the-Market Workshop , , Reference PDF
270.83 KB
19/10/2017 Ares(2017)5008790 European Commission request to ESAs to issue recurrent reports- CMU action , Reference PDF
294.97 KB
06/11/2017 ESMA50-165-422 The impact of charges on mutual fund returns- correction , , Reference PDF
590.09 KB

ERRATUM - In the original version of this document published on 19 October 2017 in table V.3 on page 4, the values in the last four rows of column five were accidentally misreported. For this reason, ESMA now provides a corrected version, including the corrected values and a footnote pointing to the initial mistake.

ESMA carried out a first analysis on fund performance measures, developing initial metrics to analyse the impact of ongoing fees, one-off charges and inflation on the returns of mutual funds. Key preliminary results for the EU fund industry show: Substantial reduction in net returns available to investors, especially in the retail sector and weakly cost- or price-sensitive investment decisions by retail investors

On average ongoing fees and one-off charges and inflation-reduced returns available to investors by 29% of gross returns between 2013 and 2015. These reductions apply to all market segments, while varying across jurisdictions, asset classes and client types. Relative return reductions range from 11% for passive equity fund shares to 44% for retail fund shares in bond mutual funds. Relative and absolute return reductions for actively managed and retail fund shares tend to exceed those of passively managed and institutional fund shares. Despite the impact of fees and charges on the net outcome to investors, these do not seem to be reflected in investor choices.

15/03/2018 15-03-2018 Big Data Factsheet Reference PDF
750.34 KB
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28/09/2018 RPMMF Response form for consultation on MMF stress testing guidelines Reference DOCX
770.87 KB
04/12/2018 ESMA50-157-1377 Application form FISC CWG Application Form Reference DOCX
33.02 KB
04/12/2018 ESMA50-157-1377 Call for expressions of interest: Consultative Working Group for ESMA’s Financial Innovation Standing Committee Reference PDF
279.68 KB
09/01/2019 ESMA50-157-1384 Annex- Legal qualification of crypto-assets – survey to NCAs Reference PDF
905.31 KB