ESMA Launches a Call for Evidence on Restricted Subscription and Private Credit Ratings
The European Securities and Markets Authority (ESMA) has opened a call for evidence on restricted subscription and private credit ratings, seeking stakeholder input on their purposes, market practices, and associated risks. The regulator asks for data on the characteristics, users, and governance of these private ratings compared with publicly disclosed ones. Responses, including quantitative analysis and real‑world examples, must be submitted by 31 May 2026. ESMA will review the feedback in Q2 2026 to consider possible regulatory adjustments.
ESMA Publishes Latest Edition of Its Newsletter
The European Securities and Markets Authority (ESMA) released its February‑March 2026 Spotlight on Markets newsletter, highlighting a suite of regulatory initiatives. The edition opens with actions to simplify the retail investor journey and improve market accessibility. It features the first...
ESMA Clarifies Expectations in the Run-Up to the Launch of EU’s Consolidated Tapes
The European Securities and Markets Authority (ESMA) has released a detailed Q&A to clarify how data contributors should onboard to the EU’s Consolidated Tapes (CTs) for bonds and equities ahead of the system’s go‑live. It reminds trading venues and Authorized...
Postponement of the Rollout for Commodity Derivatives Weekly Position Reporting
The European Securities and Markets Authority (ESMA) has delayed the launch of its new Commodity Derivatives Weekly Position Reporting platform, which was slated for 1 April 2026. Final testing revealed stability and data‑quality problems that require corrective work before the system can...
SEC Confirms Exemption for Directors and Officers of EEA Foreign Private Issuers
The U.S. Securities and Exchange Commission announced that directors and officers of European Economic Area foreign private issuers will be exempt from Section 16(a) reporting under the 1934 Exchange Act. The exemption eliminates the need for these insiders to file Form 4,...
EU Financial Markets Enter 2026 Amid High-Risk Environment
The European Securities and Markets Authority (ESMA) released its first risk‑monitoring report for 2026, warning that market and systemic stress remain high despite solid performance in late 2025. Geopolitical tensions, stretched equity valuations, rising price correlations and sophisticated cyber‑hybrid threats...
ESMA Sets Out Actions to Simplify the Retail Investor Journey and Make Investing More Accessible
The European Securities and Markets Authority (ESMA) released its takeaways from the 2025 Call for Evidence on the retail investor journey, outlining concrete actions to make investing easier for EU consumers. It will focus on streamlining disclosure requirements, simplifying suitability...
ESMA Sets Out Clearing Thresholds Under EMIR 3
The European Securities and Markets Authority (ESMA) has released draft Regulatory Technical Standards (RTS) detailing new clearing thresholds under EMIR 3. The proposal retains five threshold categories, clarifies calculation timing, and enhances the trigger mechanism’s stability. ESMA also suggests higher thresholds...
ESMA Reminds Firms of Their Obligations Under CFD Product Intervention Measures Amid Rising Offerings of Perpetual Futures
The European Securities and Markets Authority (ESMA) issued a reminder that firms must verify whether newly offered perpetual futures and similar derivatives fall within the scope of existing CFD product‑intervention measures. The regulator highlights that many of these instruments, including...
Upcoming Changes to the Euribor Panel
The European Securities and Markets Authority (ESMA) announced that Barclays Bank PLC will withdraw from the Euribor panel, with its final contribution date set for 27 February 2026. ESMA and the Euribor College of Supervisors assessed the impact and concluded...
ESMA Publishes List of Supplementary Deferrals for Sovereign Bonds
The European Securities and Markets Authority (ESMA) and most EU national competent authorities have released a list of supplementary deferrals that extend the MiFIR transparency regime for sovereign bonds. The new rule permits the omission of volume publication for medium‑size...
ESMA Publishes a Supervisory Briefing on the AAR Representativeness Obligation
The European Securities and Markets Authority (ESMA) has released a supervisory briefing outlining how counterparties must meet the active‑account requirement (AAR) representativeness obligation. The document details the identification of relevant derivative sub‑categories, reporting procedures, and provides a compliance example. ESMA...
ESMA Publishes Statement Supporting the Smooth Implementation of the Listing Act – Simplifying Prospectus Compliance for Issuers
The European Securities and Markets Authority (ESMA) issued a statement to facilitate the rollout of the EU Listing Act, offering practical guidance on the revised prospectus framework. It confirms that registration documents approved or filed up to 4 June 2026 remain valid...
ESMA Publishes Report on Cross-Border Marketing of Funds Including Statistics on Notifications
The European Securities and Markets Authority (ESMA) released its third report on marketing requirements for the cross‑border distribution of funds, adding for the first time detailed statistics on fund notifications. The analysis shows that national marketing rules have remained largely...
ESAs Publish Joint Guidelines on ESG Stress Testing
The European Supervisory Authorities (EBA, EIOPA and ESMA) released joint Guidelines on ESG stress testing, offering a unified framework for national banking and insurance supervisors. The document outlines how to embed environmental, social and governance risks into existing stress‑test models...