ESMA invites comments on all matters in this paper and in particular on the specific questions summarised in Annex 1. Comments are most helpful if they:
respond to the question stated;
indicate the specific question to which the comment relates;
contain a clear rationale; and
describe any alternatives ESMA should consider.
ESMA will consider all comments received by 29 November 2019.
All contributions should be submitted online at www.esma.europa.eu under the heading ‘Your input - Consultations’ using the reply form.
Publication of responses
All contributions received will be published following the close of the consultation, unless you request otherwise. Please clearly and prominently indicate in your submission any part you do not wish to be publicly disclosed. A standard confidentiality statement in an email message will not be treated as a request for non-disclosure. A confidential response may be requested from us in accordance with ESMA’s rules on access to documents. We may consult you if we receive such a request. Any decision we make not to disclose the response is reviewable by ESMA’s Board of Appeal and the European Ombudsman.
All interested stakeholders are invited to respond to this consultation paper. This consultation paper is primarily of interest to issuers of financial instruments admitted to trading or trading on a trading venue, investment firms, asset management companies and persons discharging managerial responsibilities in the above-mentioned issuers, but responses are also sought from any other market participant including trade associations and industry bodies, institutional and retail investors, consultants and academics.
