The European Securities and Markets Authority (ESMA) has issued an opinion responding to the European Commission amendments to the regulatory technical standards (RTS) on the authorisations and notifications under the Markets in Cryptoassets Regulation (Regulation EU) 2023/1114) (MiCA).

The European Securities and Markets Authority (ESMA) has issued an opinion responding to the European Commission amendments to the regulatory technical standards (RTS) specifying the requirements for policies and procedures on conflicts of interest for cryptoasset service providers and the details and methodology for the content of disclosures on conflicts of interest under the Markets in Cryptoassets Regulation (Regulation EU) 2023/1114) (MiCA).

The European Securities and Markets Authority (ESMA) has published a public statement on accounting for carbon allowances in financial statements. It takes stock of the different accounting approaches in the financial statements of EU listed issuers regarding compliance market carbon allowances—specifically emission allowances, rights and permits, such as the EU Emissions Trading System. ESMA expects issuers and their auditors to consider the messages in this report when preparing and auditing the IFRS financial statements.

The European Securities and Markets Authority (ESMA) has issued a statement reminding issuers about the applicable legislative framework for pre-close calls, encouraging them to follow good practices when engaging in such calls, with the goal of contributing to fair, orderly, and effective markets. Following recent news suggesting a connection between episodes of high volatility in share prices and pre-close calls, ESMA reminds issuers that any disclosure of inside information should only take place in accordance with the EU Market Abuse Regulation (EU MAR). Consequently, issuers should only share non-inside information during pre-close calls.

The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor has issued a public statement on deprioritising supervisory actions linked to the clearing obligation for third-country pension scheme arrangements (TC PSA) while the finalisation of the review of EMIR is awaited. ESMA expects National Competent Authorities (NCAs) not to prioritise supervisory actions in relation to the clearing obligation for derivative transactions conducted with TC PSAs exempted from the clearing obligation under their third-country’s national law. The Council and the European Parliament have reached a provisional agreement as of 7 February 2024. The political agreement on the EMIR 3 text provides for an exemption regime from the EMIR clearing obligation when the TC PSA is exempted from the clearing obligation under that third country’s national law.

The European Securities and Markets Authority (ESMA) has issued a statement with practical guidance to national competent authorities (NCAs), issuers and their advisors on the application of the revised prospectus framework introduced by the Listing Act. ESMA says it expects NCAs to follow the approach outlined in the statement, enabling issuers and advisors to rely on its content.

The European Securities and Markets Authority (ESMA) has issued a statement ahead of the entry into force on 28 March 2024 of the changes introduced by the MiFIR review. ESMA says it received numerous questions from stakeholders on the provisions applicable on the date of entry into force of the revised MiFIR, and acknowledges that public guidance is necessary, notably on the application of Article 54(3) MiFIR, which foresees the continued application of the delegated acts in place beyond 28 March 2024 until these delegated acts have been revised.

The European Securities and Markets Authority (ESMA) has issued a statement providing initial guidance to firms using AI when they provide investment services to retail clients. ESMA says it expects firms to comply with relevant MiFID II requirements, particularly when it comes to organisational aspects, conduct of business, and their regulatory obligation to act in the best interest of the client.

The European Securities and Markets Authority (ESMA) has published a final report containing technical advice reviewing the Directive 2007/16/EC on Undertakings for Collective Investment in Transferable Securities (UCITS) Eligible Assets (the UCITS Eligible Assets Directive). The advice recommends implementing a look-through approach for determining asset eligibility and proposes allowing up to 10% exposure to alternative assets. ESMA's recommendations aim to harmonise divergent national practices and include transition periods for portfolio adjustments. The proposals also include proposals for improving retail investor access to Alternative Investment Funds through standardised cross-border marketing rules. ESMA developed the advice following a consultation that received 63 responses and extensive data collection from national competent authorities.

The European Securities and Markets Authority (ESMA) has issued a statement on the upcoming reporting obligations under EMIR 3, aiming to clarify reporting under the Active Account Requirement (AAR); and reporting of information on clearing activity at recognised third-country central counterparties (CCPs) (Article 7d of EMIR).

The European Securities and Markets Authority (ESMA) has published a statement urging market participants to prepare for the start of the activities of the Consolidated Tape Provider (CTP) for bonds. ESMA expects the European Commission to adopt its December 2024 draft technical standards without substantial changes and encourages market participants to use these standards for preparation. ESMA also provides an update on timing with regards to CTP selection which began in January 2025 and which it now expects to conclude by July 2025.

The European Securities and Markets Authority (ESMA) has issued a warning to investors that, despite the new era of supervision soon to commence with the Markets in Crypto-Assets Regulation (MiCA), ‘the inherent risks of investing in cryptoassets remain’. ESMA says many cryptoassets are ‘highly speculative and volatile, with prices subject to sudden and extreme fluctuations’. The recent surge in the price of certain cryptoassets might be ‘yet another short-lived spike’, ESMA warns, and such assets remain prone to novel risks due to their underlying technology.