CONSULTATIONS

In March 2011 ESMA updated and revised paragraphs 131-133 of the CESR Recommendations on the con-sistent implementation of Commission Regulation (EC) No 809/2004 implementing the Prospectus Di-rective (hereinafter the “Recommendations”) which address the information that should be disclosed by…

The Guidelines aim to strengthen investor protection by seeking to improve the implementation of the MiFID rules on conflicts of interest, and thereby preventing mis-selling of products.  The Guidelines will apply to investment firms, credit institutions, fund management companies when…

The purpose of these guidelines is to:
- Assist the notifying entity in the notification process, by specifying and describing the con-tent of the written notification and providing a template notification form;- Develop a common approach to submitting the notification form, assessing…

Please send your comments to the EBA, EIOPA and ESMA by email to joint-committee@eba.europa.eu, jointcommittee@eiopa.europa.eu and joint.committee@esma.europa.eu by 05.10.2012, indicating the reference ‘JC CP 2012 02’ in the subject field.
Please note that comments submitted after the…

ESMA is seeking views on the appropriate treatment of repo and reverse repo arrangements in the context of the guidelines on ETFs and other UCITS issues.
This consultation paper sets out ESMA’s proposal for the treatment of repo and reverse repo arrange-ments. ESMA proposes a distinct…

Annex II of the AIFMD establishes a set of rules (largely inspired from the provisions of Directive 2006/48/EC, the “CRD”) with which AIFMs have to comply when establishing and applying the remuneration policies for certain categories of their staff. Article 13(2) of the AIFMD requires ESMA to…

This consultation paper includes the Regulatory and Implementing Technical Standards ESMA is required to draft under the Regulation of the European Parliament and Council on OTC derivatives, central counterparties and trade repositories (EMIR). It covers implementing measures for the application…

The purpose of this Consultation Paper (CP) from ESMA is to seek comments on the third part of the technical advice that ESMA proposes to submit to the European Commission on a number of possible delegated acts.
ESMA will consider the feedback it has received in relation to this…

Following the close of this consultation, the ESAs have publised a feedback statement.

This call for evidence seeks to collect interested parties’ views on what elements ESMA should consider in its work on guidelines on harmonised transaction reporting, as well as opinions on what areas of the OTC derivatives guidelines need to be updated. On the basis of responses received to…

This Discussion Paper focuses on the development of the proxy advisory industry in Europe, which mainly serves institutional investors such as asset managers, mutual funds and pension funds. Following its fact-finding work in 2011, ESMA recognises the proxy advisory industry within Europe is, or…

EBA, EIOPA and ESMA (the ESAs) invite market participants and all interested stakeholders to provide their feedback on planned regulatory technical standards covering risk mitigation techniques for OTC derivatives not cleared by central counterparties. The EMIR Regulation (“the Regulation”) on…

Responses to this discussion paper will help ESMA in finalising its policy approach. In light of the feedback received, ESMA will develop a consultation paper in Q2 2012 setting out formal proposals for draft regulatory technical standards on Article 4(4) of the AIFMD. The results of that public…

The Regulation of the European Parliament and Council on OTC Derivatives, CCPs and trade repositories (EMIR) introduces provisions to improve transparency and reduce the risks associated with the OTC derivatives market and establishes common rules for central counterparties (CCPs) and for trade…

The purpose of this consultation is to seek comments on the technical advice
that ESMA proposes to give to the European Commission on a number of possible
delegated acts concerning the Regulation as listed in the Commission request
for advice. These delegated acts should then…

ESMA publishes today a consultation paper (ESMA/2012/44) setting out future guidelines on UCITS Exchange-Traded Funds (UCITS ETFs) and other UCITS-related issues. The proposals cover both synthetic and physical UCITS ETFs and detail the obligations to come for UCITS ETFs, index-tracking UCITS,…

In November 2011 the Council and the Parliament voted on a Regulation on
short selling and certain aspects of credit default swaps (the Regulation).
This is about to be published and should be applicable from 1 November 2012.

According to the Regulation ESMA has to submit its…

Guidelines on certain aspects of the MiFID compliance function requirements

Consultation paper on guidelines on certain aspects of the MiFID suitability requirements

The purpose of this consultation document from ESMA is to seek comments on the technical advice that ESMA proposes to give to the European Commission on a number of possible delegated acts.