ESMA_QA_2438
Topic
Best Execution
12/02/2025
Subject Matter
Multiple offers
Question
Can a project owner seek funding for its project through both a crowdfunding offer and an offer to the public of transferable securities which is not a crowdfunding offer?
Level 1 Regulation
Regulation 2020/1503 - European crowdfunding service providers for business
ESMA_QA_2437
Topic
Suitability
12/02/2025
Subject Matter
Scope of the ECSPR - Calculation of threshold in point (c) of Article 1(2) of ECSPR
Question
How should the threshold laid down in point (c) of Article 1(2) of ECSPR be calculated?
Level 1 Regulation
Regulation 2020/1503 - European crowdfunding service providers for business
ESMA_QA_2436
Topic
Non-equity transparency
12/02/2025
Subject Matter
Legal qualification of Financial Transmission Rights under MiFID II
Question
Do Financial Transmission Rights referred to in the Forward Capacity Allocation Regulation (Commission Regulation 2016/1719) qualify as financial instruments under Annex I, Section C of MiFID II (Directive 2014/65/EU)?
Level 1 Regulation
Markets in Financial Instruments Directive II (MiFID II) Directive 2014/65/EU- Secondary Markets
ESMA_QA_2435
Topic
Register of information
10/02/2025
Subject Matter
Register of Information at consolidated level
Question
A Group contains within it both insurance entities and banking entities; for the purposes of preparing the Register at a consolidated level, must it consider both types of Entity? To which Authority is the Register sent at a consolidated level?
Level 1 Regulation
Regulation (EU) 2022/2554 - The Digital Operational Resilience Act (DORA)
ESMA_QA_2431
Topic
Register of information
04/02/2025
Subject Matter
Non-EU ICT service providers without a LEI - conflicting validation rules
Question
When an ICT service provider reported under schedule 05.01 is a legal person outside of the EU, the absence of a EUID and LEI will result in a report validation error rendering the submission of the ROI impossible. Should such service provider be left out of the register or should a dummy EUID be used (preferably issued by ESA to adequately consolidate missing positions)
Level 1 Regulation
Regulation (EU) 2022/2554 - The Digital Operational Resilience Act (DORA)