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Date Ref. Title Section Type Download Info Summary Related Documents Translated versions
01/03/2012 2012/140 ESMA advises European Commission on Prospectus Directive’s overhaul- Advice covers possible delegated acts , , Press Release PDF
115.14 KB
01/03/2012 2012/138 ESMA’s technical advice on possible delegated acts concerning the Prospectus Directive as amended by the Directive 2010/73/EU , Letter PDF
94.68 KB
15/03/2012 2012/195 Keynote speech by Steven Maijoor, Chair of ESMA, at the EVCA Investors’ Forum Speech PDF
191.14 KB
This speech was given at the EVCA Investors’ Forum in Geneva on 15 March 2012
19/03/2012 2012/180 ESMA comment letter to the IASB on the Exposure Draft- Revenue from Contracts with Customers Letter PDF
472.46 KB
19/03/2012 2012/181 ESMA comment letter to EFRAG regarding IASB's Exposure Draft- Revenue from Contracts with Customers Letter PDF
109.63 KB
21/03/2012 2012/203 ESMA comment letter to EFRAG on their endorsement advice on IFRS 10 – Consolidated Financial Statements Letter PDF
56.7 KB
22/03/2012 2012/212 Discussion Paper- An Overview of the Proxy Advisory Industry. Considerations on Possible Policy Options , Consultation Paper PDF
524.85 KB
This Discussion Paper focuses on the development of the proxy advisory industry in Europe, which mainly serves institutional investors such as asset managers, mutual funds and pension funds. Following its fact-finding work in 2011, ESMA recognises the proxy advisory industry within Europe is, or is expected to be, growing in prominence and investors are, or are expected to be, increasingly using proxy advisor services. In this paper ESMA identifies several key issues related to the proxy advisory market which may have an impact on the proper functioning of the voting process. The range of policy options that ESMA will consider, and on which it seeks further input from market participants, consists of four broad areas, including: 1.    No EU-level action at this stage 2.    Encouraging Member States and/or industry to develop standards 3.    Quasi-binding EU-level regulatory instruments 4.    Binding EU-level legislative instruments ESMA will consider these options based on the feedback it receives from market participants, and, if appropriate, will undertake further policy action, either directly or by providing an opinion to the European Commission. The reason to bring up some policy options is due to the fact that proxy advisors are currently not regulated at a pan-European level. Nevertheless, there are relevant European rules that apply to investors (e.g. for UCITS management companies when exercising voting rights). In addition, there are also well-recognised corporate governance standards that apply to issuers at a national level (based on the “comply or explain approach”) and some complements to improve standards of stewardship among investors. All feedback received from this Discussion Paper will be duly considered. ESMA expects to publish a feedback statement in Q4 of 2012 which will summarise the responses received and will state ESMA’s view on whether there is a need for policy action in this area.
27/03/2012 2012/224 ESMA seeks views on proxy advisors , , Press Release PDF
170.89 KB
ESMA published last Thursday a discussion paper (ESMA/2012/212) on proxy advisors active in the European Union, seeking views of stakeholders. The paper aims at giving an overview of the state and structure of the market, advisor’s methodologies, and on possible policy options. Generally, proxy advisors assist (institutional) investors and asset managers in their voting policy and strategy.  Currently, there are no rules in place on a pan-European basis regarding proxy advisors. ESMA will use the feedback received on this paper to publish a feedback statement in Q4 of 2012, which will also include ESMA’s view on whether there is a need for policy action in the area.
26/04/2012 2012/271 The sovereign debt crisis and the EU single market: where is further work needed from a securities markets perspective? Speech PDF
292.2 KB
This speech was given by Steven Maijoor, ESMA Chair, at the ECB high level conference on Financial Integration and Stability on 26 April 2012.
26/04/2012 2012/264 Comment letter to EFRAG on its discussion paper- Accounting for business combinations under common control Letter PDF
213.06 KB
27/04/2012 2012/273 How the new regulatory and supervisory framework protects Europe’s markets and consumers Speech PDF
227.04 KB
Speech given by Steven Maijoor, ESMA Chair, at the Central Bank of Ireland Stakeholder Conference on 27 April 2012.
10/05/2012 2012/307 European Accounting Association (EAA) 35th Annual Congress – Ljubljana, 9 May 2012 Speech PDF
141.35 KB
Speech delivered by Steven Maijoor at the 35th European Accounting Association Annual Congress in Ljubljana, Slovenia on Wednesday 9 May 2012.
11/05/2012 2012/314 Shaping the future of Europe’s financial markets Speech PDF
100.99 KB
Verena Ross, Executive Director of ESMA, delivered a speech on "Shaping the future of Europe's financial markets" to the Centre Forum this morning in London.
16/05/2012 2012/321 Public Statement at the 2012 IOSCO Annual Conference Speech PDF
114.98 KB
Steven Maijoor delivered a speech this morning at IOSCO's 2012 Annual Conference in Beijing where he was appearing on panel on New Financial Architecture and International Standards Setting in the Post-Crisis Era.
23/05/2012 2012/326 Speech by Steven Maijoor at the Government Borrowers Forum Speech PDF
97.71 KB
Speech given by Steven Maijoor, Chair of ESMA, at the Government Borrowers Forum in Helsinki on 23 May 2012
24/05/2012 2012/328 Keynote speech at the ICMA conference- Verena Ross Speech PDF
135.46 KB
Verena Ross, Executive Director of ESMA, today gave the keynote address at the ICMA conference in Milan
13/06/2012 2012/367 The role of ESMA in European and international regulatory cooperation Speech PDF
161.62 KB
Speech by Verena Ross, Executive Director of ESMA, given on 12 June 2012 at the International Council of Securities Associations in Copenhagen
20/06/2012 2012/380 ESMA’s technical advice on possible delegated acts concerning the Prospectus Directive as amended by the Directive 2010/73/EU , Consultation Paper PDF
1.49 MB
Responses to this consultation paper should be submitted online by 20 August 2012.
29/06/2012 2012/415 Call for Evidence on Empty Voting , CESR Document PDF
275.66 KB
ESMA launched a Call for Evidence on Empty Voting in September 2011 to analyse the potential issues and concerns raised by the practice of empty voting and to examine whether there was a possible need for further action. An analysis of the responses received to the consultation has led ESMA to conclude that there is insufficient evidence to justify any regulatory action at the European level at present.
05/07/2012 2012/376 Letter to Eurostat- Suitability of IPSAS for EU Member States Letter PDF
55.83 KB