Podcast: ESMA Report: Undue Pressure on Companies
The European Securities and Markets Authority (ESMA) has published its final report with draft regulatory technical standards (RTS) that establish an EU code of conduct for issuer-sponsored research. The RTS supplement the...more
The European Securities and Markets Authority (ESMA) has published its final report on the draft regulatory technical standards (RTS) for open-ended loan-originating alternative investment funds (OE LO AIFs), pursuant to the...more
The European Securities and Markets Authority (ESMA) has published its final report on the draft implementing technical standards (ITS) extending the use of the alleviated format of insider lists to all issuers under the...more
Crypto-assets have quickly shifted from a niche innovation to a core part of global finance. As its addition to, and integration with, traditional investment, banking and payment systems accelerates, regulators and...more
ESMA and EBA Publish Proposals for IFD Review - On 15 October 2025, the European Securities and Markets Authority (ESMA) and the European Banking Authority (EBA) presented their report with proposals for revising the...more
The European Securities Markets Authority (ESMA) has published two Q&A's relating to the Markets in Crypto-Assets Regulation (MiCAR): (i) ESMA_QA_2653 provides guidance on how crypto-asset service providers (CASPs) should...more
The European Securities and Markets Authority (ESMA) has published its second consolidated report on sanctions and measures imposed by national competent authorities in Member States in 2024. The report reveals that over 970...more
The European Securities and Markets Authority (ESMA) has published its final report proposing the replacement of Commission Delegated Regulation (EU) 2016/1437, which sets out the regulatory technical standards (RTS) for the...more
In a welcome development, ESMA published its proposed Level 2 measures on the conditions for the operation of open-ended loan-originating alternative investment funds (OE LOFs) pursuant to the AIFMD II mandate. The RTS...more
The European Securities and Markets Authority (ESMA) has published its final report setting out supervisory expectations for the governance arrangements of entities under its direct supervision. These include credit rating...more
The European Securities and Markets Authority (ESMA) has published its final report on the regulatory and implementing technical standards (RTS and ITS) under the European Green Bonds Regulation (Regulation (EU) 2023/2631)....more
As detailed in our previous alert “Loan Fund Structures Under AIFMD2: ESMA’s Proposals,” in December 2024, the European Securities and Markets Authority (ESMA) issued a consultation with draft regulatory technical standards...more
The European Securities and Markets Authority (ESMA) has published its final report on three draft regulatory technical standards (RTS) under Regulation (EU) 2024/3005 on the transparency and integrity of environmental,...more
The European Banking Authority (EBA) and the European Securities and Markets Authority (ESMA) have published their joint final report on technical advice in response to the European Commission's Call for Advice on the...more
The European Systemic Risk Board (ESRB), which is responsible for collecting and analyzing data from national central banks, supervisors, and the European Union agencies about risk in the EU financial system, released a major...more
The European Securities and Markets Authority (ESMA) has published a final report setting out its proposed amendments to the regulatory technical standards (RTS) on settlement discipline (Commission Delegated Regulation (EU)...more
The European Securities Markets Authority (ESMA) has issued a second public statement providing transitional guidance on the application of revised provisions under the Markets in Financial Instruments Directive II (MiFID II)...more
Over the past 12 months, United Kingdom and European Union (EU) regulators have introduced a series of clarifications and reforms that materially reshape the securitisation compliance landscape. The UK has embedded a more...more
The European Securities and Markets Authority (ESMA) has published a consultation paper and reply form, setting out draft regulatory technical standards (RTS) on the elements to be considered when central counterparties...more
The European Securities and Markets Authority (ESMA) has published its final reports under the revised European Market Infrastructure Regulation (EMIR 3) on: (i) draft regulatory technical standards (RTS) on the conditions...more
The European Securities and Markets Authority (ESMA) has published a Q&A (ESMA_QA_2660) on whether reporting counterparties can submit a single consolidated Errors and Omissions Notification for exchange-traded derivatives...more
In a letter dated 1 October 2025, the European Commission has announced that it will not adopt any non-essential Level 2 acts in respect of AIFMD II or the UCITS review, before 1 October 2027 at the earliest. The list of...more
The European Securities and Markets Authority (ESMA) has published its 2026 annual work programme, guided by its 2023-2028 strategy....more
With six months to go, fund managers should be ramping up their preparations for complying with the legislative changes to EU Alternative Investment Fund Managers Directive (“AIFMD”), commonly referred to as “AIFMD 2.0”,...more
The European Securities and Markets Authority (ESMA) has published official translations of its final report updating the 2021 guidelines on outsourcing to cloud service providers. The updated guidelines, initially published...more