ESMA LIBRARY

The ESMA Library contains all ESMA documents. Please use the search and filter options to find specific documents.
155
DOCUMENTS

REFINE YOUR SEARCH

Sections

Type of document

Your filters
Audit X Securitisation X European Single Electronic Format X Innovation and Products X
Reset all filters
Date Ref. Title Section Type Download Info Summary Related Documents Translated versions
28/06/2017 ESMA35-36-885 Product Intervention- General Statement , Statement PDF
123.04 KB

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[1] 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[2].

 

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[3].

19/07/2017 ESMA50-164-820 Regulatory Technology: Reshaping the Supervisor-Market Participant Relationship , Speech PDF
251.54 KB
26/07/2017 ESMA32-62-91 Comment letter to the IAASB on ISA 540 Auditing accounting estimates , Letter PDF
361.8 KB
29/09/2017 ESMA71-99-602 ESMA appoints new chairs to Standing Committees , , , , , , , Statement PDF
143.69 KB
27/10/2017 ESMA71-99-623 Press Release on 2017 Enforcement Priorities , , , Press Release PDF
172.2 KB
13/11/2017 ESMA50-157-829 ESMA alerts investors to the high risks of Initial Coin Offerings (ICOs) , Statement PDF
444.01 KB
13/11/2017 ESMA50-157-828 ESMA alerts firms involved in Initial Coin Offerings (ICOs) to the need to meet relevant regulatory requirements , Statement PDF
330.73 KB
13/11/2017 ESMA71-99-649 Press Release ICO Statements , , Press Release PDF
169.52 KB
18/12/2017 ESMA 71-99-671 Briefing note- Preparing for 2020: ESEF field tests and reporting manual Reference PDF
339.06 KB
18/12/2017 ESMA32-60-204 Final report on the RTS on the European Single Electronic Format Final Report PDF
6.37 MB
18/12/2017 ESMA 71-99-670 New rules make EU issuers’ annual financial reports machine-readable Press Release PDF
218.36 KB
19/12/2017 ESMA33-128-33 Consultation_Paper_STS notification Consultation Paper PDF
1.01 MB
19/12/2017 ESMA33-128-107 Consultation_Paper_Disclosure_and_Operational_Standards Consultation Paper PDF
2.66 MB
19/12/2017 ESMA33-128-108 Consultation_Paper_Third-Party_Firm_STS_Verification_Application Consultation Paper PDF
586.89 KB
19/12/2017 ESMA71-99-916 ESMA consults on securitisation requirements , Press Release PDF
150.34 KB
19/12/2017 ESMA33-128-107 response form Response form- Consultation Paper on disclosure and operational standards Reference DOCX
771.94 KB
19/12/2017 ESMA33-128-33 response form Response form- Consultation Paper STS notification Reference DOCX
766.04 KB
19/12/2017 ESMA33-128-108 response form Response form- Consultation Paper Third-Party Firm STS Verification Application Reference DOCX
766.9 KB
22/02/2018 ESMA-180219 ESMA’s consultation papers on draft regulatory standards under the securitisation regulation Reference PDF
276.43 KB
27/02/2018 ESMA71-319-70 Afore Consulting’s Second Annual FinTech and Digitalisation Conference: Regulation at the European Level and Beyond – Stanhope Hotel Brussels , Speech PDF
168.3 KB