ESMA publishes final report on RTS for EU code of conduct on issuer-sponsored research
The European Securities and Markets Authority (ESMA) has published its final report on the draft regulatory technical standards (RTS) for establishing an EU code of conduct for issuer-sponsored research. Developed under Article 24(3c) of the Markets in Financial Instruments Directive (MiFID II) and the Listing Act Directive, the RTS set out procedural and organisational requirements intended to support the production and distribution of issuer-sponsored research within a harmonised framework. If endorsed by the European Commission, the regulation will apply from 6 June 2026.