ESMA_QA_2454
Topic
Content of prospectus
05/03/2025
Subject Matter
Historical financial information - if we intend to prepare and file a Prospectus should we, acting as an issuer of equity securities (shares), prepare historical financial information covering the last three or two financial years?
Question
Annex I to the Prospectus Regulation was amended by Regulation 2024/2809 and introduced reduced time periods for historical financial information. However, Commission Delegated Regulation 2019/980 remains in force and requires longer time periods for historical financial information. Do the time periods in Annex I now apply or do those in Commission Delegated Regulation 2019/980 continue to apply?
Level 1 Regulation
Prospectus Regulation 2017/1129
ESMA_QA_2447
Topic
ICT third-party risk management
26/02/2025
Subject Matter
direct agreements between AIF and ICT service provider
Question
According to article 2 par 1 of DORA AIFM is in scope of DORA, AIF is not defined as financial entity. There are situations when agreement is concluded directly between AIF and ICT service provider. It is obvious that the agreement in such situation should contain elements listed in article 30 of DORA and the risk assessment should be performed by AIFM. But shall such agreement also be:
- included in the register of information in relation to all contractual arrangements on the use of ICT services provided by ICT third-party service providers according to article 28 par 3 and
- notified to competent authority in a timely manner prior of the conclusion of the agreement if the agreement supports critical or important functions?
Level 1 Regulation
Regulation (EU) 2022/2554 - The Digital Operational Resilience Act (DORA)
ESMA_QA_2578
Topic
Crypto-Asset Service Provider (CASP)
20/02/2025
Subject Matter
Commingling clients’ crypto-assets with crypto-assets from other entities of the group when acting as custodian
Question
Some crypto-asset service providers (CASPs) providing custody and administration of crypto-assets on behalf of clients (as defined in Article 3(1)(17) of MiCA) have sister companies that may provide certain services to the CASP’s clients, for instance, liquidity or offer lending services. These sister companies may be using the CASP as their custodian and the CASP will hold their crypto-assets within the same wallet(s) to custody other clients' crypto-assets.

Under MiCA, is a CASP providing custody and administration of crypto-assets on behalf of clients allowed to hold clients’ crypto-assets within the same wallets as crypto-assets belonging to entities of the same group?
Level 1 Regulation
MiCA
ESMA_QA_2608
Topic
Crypto-Asset Service Provider (CASP)
20/02/2025
Subject Matter
Pre-funding clients’ orders with clients’ crypto-assets
Question
Does the Markets in Crypto-Assets Regulation (MiCA) allows crypto-asset service providers (CASPs) to use clients’ crypto-assets for pre-funding client orders?
Level 1 Regulation
MiCA
ESMA_QA_2442
Topic
* EMIR Art.9 reporting
17/02/2025
Subject Matter
Reporting of Settlement Rate Options
Question
How should the Settlement Rate Option be reported for FX products, such as FX non-deliverable forwards or FX non-deliverable options?
Level 1 Regulation
European Market Infrastructure Regulation (EMIR) Regulation (EU) No 648/2012- MDP