CONSULTATIONS

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.

The objective of financial statements is to provide information to a range of users for the purpose of economic decision making. To be useful, such statements must present fairly the financial position, perform-ance and cash flows of the reporting entity. Where information which is required by…

This Consultation Paper aims at presenting the draft RTS. For the purpose of preparing the RTS, ESMA carried out a Cost and Benefits Analysis (hereafter

Article 21(4) of Regulation (EU) No 513/2011 of the European Parliament and of the Council of 11 May 2011 amending Regulation (EC) No 1060/2009 on credit rating agencies (EU Regulation) requires ESMA to develop draft regulatory technical standards on the assessment of compliance of credit rating…

Credit rating agencies are required to report data to a central repository (CEREP) run by ESMA. The very purpose of this CEREP is to improve transparency and to contribute to the protection of investors by providing information on the past performance of credit rating agencies and about credit…

The reason for requiring periodic reporting of ratings data from credit rating agencies is to enable ESMA to use this data as a basis for its supervisory reviews and, in general, to support the tasks that ESMA shall carry out in order to discharge its obligations under the Regulation.
The…