ESMA_QA_1997
Topic
Remuneration
26/10/2023
Subject Matter
Payments to be considered as remuneration
Question
When calculating remuneration for small closely held company where the majority owner is also an employee, a member of management and the board, should the dividends he/she earns from his/her shares in the company be added to remuneration?
Level 1 Regulation
Markets in Financial Instruments Directive II (MiFID II) Directive 2014/65/EU- Investor Protection and Intermediaries
ESMA_QA_1977
Topic
Access to CCPs and trading venues
13/10/2023
Subject Matter
Fees charged to CCPs in relation to access to trading venues
Question
To what extent can a trading venue apply different fee schedules to CCPs under Article 36 of MiFIR? Is it possible for a trading venue to apply different fee schedules depending on whether a CCP has close links to the trading venue?
Level 1 Regulation
Markets in Financial Instruments Regulation (MiFIR) Regulation (EU) No 600/2014- Secondary Markets
ESMA_QA_1973
Topic
EU-CCPs
03/10/2023
Subject Matter
Sanctions regime of International Investment Bank
Question
Is there a legal basis for the measures taken by capital market participants (including Clearstream and Euroclear) to restrict any trading of International Investment Bank - IIB issued bonds?
Level 1 Regulation
Regulation 648/2012 - OTC derivatives, central counterparties and trade repositories (EMIR) - CCPs
ESMA_QA_1966
Topic
Product governance
02/10/2023
Subject Matter
Integration of sustainability within the MiFID II product governance requirements
Question
When conducting the negative target market assessment for a product that does not consider sustainability factors, should a firm also consider any clients’ sustainability-related objectives the product is not compatible with?
Level 1 Regulation
Markets in Financial Instruments Directive II (MiFID II) Directive 2014/65/EU- Investor Protection and Intermediaries
ESMA_QA_1901
Topic
Transparency of net short positions
21/09/2023
Subject Matter
Notifications of net short positions existing prior to the application of the Regulation
Question
In Member States where a national transparency regime was already in place before the Regulation applies, do holders of existing short positions already notified to the concerned competent authority and/or publicly disclosed under that regime have to make new notifications and (if applicable) disclosures according to European regime?

If so, how should the “position date” field in the form be filled in if the threshold has been crossed before the entry into application of the Regulation?
Level 1 Regulation
Short Selling Regulation (SSR) Regulation (EU) No 236/2012