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28/10/2014 2014-1293fi ESMAn ohjeet tilinpäätöstietojen valvonnasta Guidelines & Recommendations PDF
417.79 KB
FI - Euroopan unionin elinten käännöskeskus on tehnyt tämän käännöksen.
29/04/2020 ESMA41-137-1299 ESMAR Article 9a(2) Opinion- BMR EC Opinion PDF
130.45 KB
29/04/2020 ESMA41-137-1300 ESMAR Article 9a(3) Opinion- BMR NCA Opinion PDF
126.5 KB
28/10/2014 2014-1293sv Esmas riktlinjer om tillsyn över finansiell information Guidelines & Recommendations PDF
410.85 KB
SV - Den här översättningen har utförts av Översättningscentrum för Europeiska unionens organ.
05/11/2013 2013/1582 ESMA–Issues and Priorities, EFAMA Management Forum, Brussels- Steven Maijoor ESMA Chair Speech PDF
114.57 KB
ESMA – Issues and Priorities EFAMA Management Forum, Brussels Steven Maijoor, European Securities and Markets Authority Chair
07/05/2012 2012/275 ESMA’s 2012 Regulatory Work Programme Reference PDF
198.04 KB
ESMA’s annual regulatory programme aims to provide information on the planned technical standards, technical advice and guidelines & recommendations to be issued by ESMA in 2012. This information is provided in accordance with article 3 of the procedure for developing and adopting draft technical standards and guidelines and recommendations. The regulatory programme takes into account, amongst others, ESMA’s objectives and tasks, the procedure for adopting technical standards, providing technical advice and issuing guidelines as well as the scope and nature of specific powers conferred in European Union legislative acts to ESMA.    The regulatory work programme is based on the ESMA 2012 Work Programme approved by the Board of Supervisors in November 2011 and published on 4 January 2012 on the ESMA website, but provides a more detailed outline of the individual work streams.  
22/02/2018 ESMA-180219 ESMA’s consultation papers on draft regulatory standards under the securitisation regulation Reference PDF
276.43 KB
07/10/2019 ESMA65-8-6254 ESMA’s Data Operational Plan under a no-deal Brexit scenario on 31 October 2019 , , Statement PDF
154.85 KB
24/05/2012 2012/SMSG/30 ESMA’s Discussion paper on Key concepts of the AIFMD and types of AIFM – Opinion of the SMSG Letter PDF
59.17 KB
This document is an advice from the SMSG to ESMA's discussion paper on Key concepts ofthe AIFMD and types of AIFM
30/01/2012 2012/44 ESMA’s guidelines on ETFs and other UCITS issues Consultation Paper PDF
420.17 KB
In the summer of 2010 ESMA started looking into the operation of UCITS making use of the new investment freedoms introduced by the UCITS III Directive and the Eligible Assets Directive (2007/16/EC) in order to identify the possible impact on investor protection and market integrity. As part of this work, ESMA published a discussion paper on policy orientations on guidelines for UCITS Exchange-Traded Funds and Structured UCITS on 22 July 2011 (ESMA/2011/220), responses to which were due by 22 September. This consultation paper represents the next stage in the development of ESMA guidelines in this area. ESMA will take into account responses to this consultation paper in finalising the guidelines for adoption in Q2 2012.
16/12/2014 2014/1524 ESMA’s investigation into structured finance ratings Final Report PDF
436.29 KB
The European Securities and Markets Authorities (ESMA) has published this report to inform of the outcome and findings of its general investigation in the way credit rating agencies (CRAs) conduct surveillance of structured finance credit ratings, as indicated in ESMA’s Credit Rating Agencies Annual Report 2013. The investigation took place between October 2013 and September 2014 and involved the four largest CRAs providing credit ratings on structured finance instruments in the EU, namely DBRS Ratings (DBRS), Fitch Ratings (Fitch), Moody’s Investors Service (MIS) and Standard & Poor’s (S&P). 
14/11/2013 2013/1649 ESMA’s policy orientations on possible implementing measures under the Market Abuse Regulation , Consultation Paper PDF
950.26 KB
The European Securities and Markets Authority (ESMA) has published a Discussion Paper setting out its initial views on the implementing measures it will have to develop for the new Market Abuse Regulation (MAR). MAR aims to enhance market integrity and investor protection. It will achieve this by updating and strengthening the existing market abuse framework, by extending its scope to new markets and trading strategies, and by introducing new requirements. The Discussion Paper presents positions and regulatory options on those issues where ESMA will have to develop MAR implementing measures, likely to include Regulatory Technical Standards, Delegated Acts and Guidelines. These implementing measures are of fundamental importance to the new regime, as they set out how MAR’s enlarged scope is to be implemented in practice by market participants, trading platforms, investors, issuers and persons related to financial markets. In developing these regulatory options ESMA, where similar requirements already exist under the current Market Abuse Directive (MAD), has taken into consideration the existing MAD Level 2 texts and ESMA/CESR guidelines to set out the DP positions in light of the extended scope of MAR. This Discussion Paper is based on the version of the MAR Level 1 text agreed by the European Parliament, the Council and the European Commission on 24 June 2013. Consultation Reference 2013/1649 Closing date for responses Monday, 27 January 2014 Contact market.integrity[at]esma.europa.eu
22/03/2012 2012/207 ESMA’s Report on the Supervision of Credit Rating Agencies Final Report PDF
323.81 KB
This report provides an overview of ESMA’s supervisory activity on Credit Rating Agencies (CRAs) registered in the European Union and summarises the results of ESMA’s first examination of the three groups of registered CRAs (Fitch Ratings, Moody's Investors Services, and Standard & Poor's Rating Services). The examination referred to in this document is the first step in an ongoing supervisory process conducted by ESMA and therefore does not represent a full scope investigation. The observations set forth in this Report refer to common issues affecting CRAs activities. As of the date of this document, ESMA has not determined whether any observation highlighted below constitutes a breach of the provisions of the Regulation. ESMA is still progressing in its assessment of the areas discussed in this Report. This Report is not based on a decision by ESMA’s Board of Supervisors; therefore it is published without prejudice to the possibility of further investigations which could lead to enforcement or supervisory actions.
14/02/2020 ESMA70-156-1778 ESMA’s response to the Commission’s consultation on the BMR review Report PDF
314.12 KB
29/06/2020 ESMA50-164-3463 ESMA’s response to the European Commission’s Consultation on a New Digital Finance Strategy for Europe Report PDF
380.54 KB
04/12/2012 2012/800 ESMA’s role in markets reform- Verena Ross, ESMA Executive Director , Speech PDF
147.98 KB
Verena Ross, ESMA Executive Director, delivered the keynote address at the ICI Global Trading and Market Structure Conference in London.
05/02/2016 2016/234 ESMA’s supervision of credit rating agencies and trade repositories- 2015 annual report and 2016 work plan. , Report PDF
2.08 MB

The European Securities and Markets Authority’s (ESMA) annual report and work programme has been prepared according to Article 21 of Regulation 1060/2009 on credit rating agencies as amended (the CRA Regulation) and Article 85 of Regulation 648/2012 on OTC derivatives, central counterparties and trade repositories (EMIR). It highlights the direct supervisory activities carried out by ESMA during 2015 regarding credit rating agencies (CRAs) and trade repositories (TRs) and outlines ESMA’s main priorities in these areas for 2016.

ESMA adopts a risk-based approach to the supervision of CRAs and TRs in accordance with its overall objectives of promoting financial stability and orderly markets and enhancing investor protection. This risk-based approach requires the analysis of information from a variety of sources and the application of multiple supervisory tools including day-to-day supervision, cycle of engagement meetings with supervised entities, on-site inspections and dedicated investigations.

In order to build on the expertise that ESMA has developed through its supervision of CRAs and TRs, ESMA created a single Supervision Department in November 2015. ESMA intends to draw on the best practices identified from the supervision of both types of entity to further enhance its supervisory effectiveness in future.

08/02/2018 ESMA80-199-153 ESMA’s supervision of credit rating agencies, trade repositories and monitoring of third country central counterparties- 2017 Annual Report and 2018 Work Programme Annual Report PDF
1.03 MB
03/02/2015 2015/224 ESMA’s technical advice on possible delegated acts concerning the Market Abuse Regulation Technical Advice PDF
1021.03 KB
This advice:•    specifies the MAR market manipulation indicators, by providing examples of practices that may constitute market manipulation as well as proposing “additional” indicators of market manipulation; •    recommends to set the minimum thresholds that exempt certain market participants in the emission allowance market from publicly disclosing inside information at six million tonnes of CO2eq per year and at 2,430 MW rated thermal input;•    suggests the way to determine to which regulator delays in disclosure of inside information needs to be notified.  •    provides clarifications on the enhanced disclosure of managers’ transactions. - ESMA recommends disclosing  any acquisition, disposal, subscription or exchange of financial instruments of the relevant issuer or related financial instruments carried out by managers,, further illustrated through a non-exhaustive list of types of transactions subject to this obligation.  . ESMA also clarifies the transactions that can be allowed by the issuer during a closed period when normally managers are prohibited to trade; and•    proposes procedures and arrangements to ensure sound whistleblowing infrastructures – i.e. EU national regulators should allow the receipt of reports of infringements, including appropriate communication channels and guarantee the protection of reporting and reported persons, with respect to their identity and their personal data. Next steps ESMA has sent its technical advice to the European Commission for its consideration in drafting its implementing standards regarding MAR. ESMA’s regulatory technical standards regarding MAR will be delivered in July 2015.
13/12/2011 2011/444 ESMA’s technical advice on possible delegated acts concerning the Prospectus Directive as amended by the Directive 2010/73/EU , Consultation Paper PDF
1.15 MB
The purpose of this consultation document from ESMA is to seek comments on the technical advice that ESMA proposes to give to the European Commission on a number of possible delegated acts.