Peer Reviews

To further strengthen consistency in supervisory outcomes ESMA periodically organises and conducts peer reviews on some of the activities of national competent authorities (as well as of ESMA’s direct supervisory role as needed).

To ensure objective assessment and comparison between the authorities reviewed the peer reviews are conducted according to the Peer Review Methodology.

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Peer reviews and follow-up reports by ESMA

Date Topic Follow-up
December 2023 2022 CCP Peer Review on Due diligence of clearing members  
February 2023 Peer review on supervision of CSDs providing cross–border services or participating in interoperable links  
December 2022 Peer review into the NCAs’ handling of relocation to the EU in the context of the UK’s withdrawal from the EU  
July 2022 Peer review of the scrutiny and approval procedures of prospectuses by competent authorities  
July 2022 2021 Peer Review on CCPs’ Business Continuity in Remote Access Mode  
March 2022 Peer review on supervision of crossborder activities of investment firms  
March 2021 2020 Mandatory CCP Peer Review  
November 2020 Fast track peer review on the application of the Guidelines on the enforcement of financial information by BaFin and FREP in the context of Wirecard Follow-up report (July 2024)
December 2019 Peer review on the collection and use of STORs under MAR as a source of information in market abuse investigations  
October 2019 Peer review into supervisory actions aiming at enhancing the quality of data reported under EMIR Follow-up report (April 2024)
July 2019 2018 Mandatory CCP Peer Review  
July 2018 Peer Review on the Guidelines on ETFs and other UCITS issues Follow-up report (June 2023)
December 2017 2017 Mandatory CCP Peer Review  
November 2017 Peer Review on Certain Aspects of the Compliance Function under MiFID I Follow-up report (July 2023)
July 2017 Peer Review on the Guidelines on the Enforcement of Financial Information Follow-up report (March 2022)
December 2016 2016 Mandatory CCP Peer Review  
June 2016 Peer Review on the Prospectus Approval Process  
April 2016 Peer Review on MiFID Suitability Requirements and Annex Follow-up (July 2018)
January 2016 Peer Review on Compliance with SSR as regards Market Making activities  
March 2015 Peer Review on Automated Trading Guidelines  
February 2015 Peer Review on Best Execution under MiFID Follow-up (January 2017)
January 2015 2014 Mandatory CCP Peer Review  
December 2014 Peer Review on MiFID conduct of business – fair, clear and not misleading information Follow-up (May 2017)
July 2013 Peer Review on Supervisory Practices under MAD Follow-up (December 2015)
April 2013 Peer Review on Money Market Fund Guidelines Follow-up (February 2016)
May 2012 Peer Review on the Prospectus Directive – Good Practices in the Approval Process  
April 2012 Peer Review on the Actual Use of Sanctioning Powers under MAD  
July 2011 Peer Review on Mapping of the Transparency Directive – Options, Discretions and “Gold-plating”  
January 2011 Peer Review on Mapping of Contingency Measures  
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