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European Securities and Markets Authority (ESMA) Regulatory Requirements

Ropes & Gray LLP

ESMA Proposes Significant Reforms to UCITS Eligible Assets Rules

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ESMA has recently recommended notable amendments to the UCITS Eligible Assets Directive, which sets the standards for permissible investments by UCITS funds across Europe. These reforms could redefine permissible investment...more

A&O Shearman

ESMA announces first CTP for bonds in the EU

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The European Securities and Markets Authority (ESMA) has announced the selection of Ediphy (fairCT), a fintech company, as the first consolidated tape provider for bonds in the EU. The decision marks a significant step...more

Walkers

ESMA's findings on sustainability risk integration and disclosures: What you need to know

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ESMA has published its final report on the CSA on the integration of sustainability risks and disclosures in the investment fund sector and a thematic note on sustainability-related claims focusing on ESG credentials. ...more

A&O Shearman

ESAs and AMLA sign MoU to strengthen EU AML supervision

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The European Supervisory Authorities (the European Banking Authority, European Insurance and Occupational Pensions Authority and European Securities Markets Authority—the ESAs) have announced the signing of a multilateral...more

Walkers

ESMA advice on the review of the UCITS Eligible Assets Directive

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On 26 June 2025, ESMA published its keenly awaited technical advice to the Commission on the review of the UCITS Eligible Assets Directive 2007/16/EC (EAD). The report assesses EAD implementation across member states and...more

A&O Shearman

ESMA publishes final report on 2023–2024 CSA on integration of sustainability risks and disclosures

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The European Securities and Markets Authority (ESMA) has published its final report on the 2023-2024 common supervisory action (CSA) carried out with national competent authorities (NCAs)on the integration of sustainability...more

Ropes & Gray LLP

New ESMA Guidance on Sustainability Claims and ESG Credentials: A Closer Look

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The European Securities and Markets Authority (ESMA) has taken another step in its ongoing mission to combat greenwashing within the financial services sector. With the release of a new thematic note, ESMA aims to ensure that...more

Goodwin

DLT Pilot Regime: ESMA Report Highlights Legal Hurdles and Regulatory Next Steps

Goodwin on

On 25 June 2025, the European Securities and Markets Authority (ESMA) published its first comprehensive review of the Distributed Ledger Technology (DLT) Pilot Regime, a regulatory sandbox designed to test blockchain-based...more

Skadden, Arps, Slate, Meagher & Flom LLP

MiCA Update – Six Months in Application

The Markets in Crypto-Assets Regulation (MiCA) has now been in full effect for six months. This landmark piece of legislation, which is designed to create a harmonized regulatory framework for cryptoassets across the EU,...more

Proskauer - Regulatory & Compliance

ESMA Publishes Four Principles for Clear, Fair and Not Misleading Sustainability-Related Claims

On 1 July 2025, the European Securities and Markets Authority (“ESMA”) published a thematic note on making clear, fair and not misleading sustainability-related claims, to address greenwashing risks (the “Thematic Note”)....more

A&O Shearman

ESMA publishes technical advice on eligible assets for UCITS

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The European Securities and Markets Authority (ESMA) has published its final technical advice to the European Commission (EC) on the review of the UCITS Eligible Assets Directive (EAD) accompanied by a press release. The EAD...more

A&O Shearman

ESMA consults on draft RTS for margin transparency requirements and clearing costs

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The European Securities and Markets Authority (ESMA) has published two consultation papers (CP) proposing draft regulatory technical standards (RTS) mandated under the review of European Market Infrastructure Regulation (EMIR...more

A&O Shearman

ESMA progresses streamlined reporting efforts with call for evidence, discussion paper and final reports

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The European Securities and Markets Authority (ESMA) has launched a call for evidence (CfE) as part of its Data Strategy to gather feedback on how to simplify and streamline supervisory reporting. The aim is to reduce the...more

Ropes & Gray LLP

ESMA’s 2023-2024 Common Supervisory Action on Sustainability Risks and Disclosures: Key Findings

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On 30 June 2025, the European Securities and Markets Authority (ESMA) published its Final Report on the 2023-2024 Common Supervisory Action (CSA) concerning the integration of sustainability risks and disclosures within the...more

Walkers

EU CryptoReg Roundup: June 2025

Walkers on

Welcome to our EU crypto update - a roundup of key Irish and EU legislative and regulatory developments shaping the crypto-assets sector....more

Jones Day

ESMA Report on the Integration of Sustainability Risks and Disclosures Under SFDR

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The funds industry continues to wait for regulators and legislators to review and fix the multiple flaws in the existing SFDR regime. In the meantime, in July 2023, ESMA launched a “common supervisory action” ("CSA”)...more

A&O Shearman

Final draft RTS on EU active account requirement published

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Following its consultation, the European Securities and Markets Authority (ESMA) has published a final report, including final draft regulatory technical standards (RTS), on the conditions of the Active Account Requirement...more

Walkers

ESMA principles on third-party risk supervision

Walkers on

On 12 June 2025, ESMA published its principles on third-party risk supervision which are designed to assist supervisory authorities to identify, assess and supervise the third-party risks of EU entities operating across the...more

Cooley LLP

Capital Markets Update – May 2025 One-Minute Reads

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ESMA releases proposed rules for regulation of ESG ratings providers On May 2, ESG Today reported that the European Securities and Markets Authority (ESMA) published draft Regulatory Technical Standards (RTS) under the...more

A&O Shearman

EC adopts Delegated Regulation to delay the application of Basel 3 market risk prudential requirements by an additional year

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The European Securities and Markets Authority (ESMA) has published a comprehensive set of principles, accompanied by a press release, aimed at strengthening the supervision of third-party risks across the EU financial sector....more

A&O Shearman

ESMA final reports on the Prospectus Regulation and civil prospectus liability

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The European Securities and Markets Authority (ESMA) has published two final reports providing technical advice to the European Commission (EC). The final report on prospectus regulation forms part of ESMA's technical advice...more

Hogan Lovells

ESMA guidance for new rules on incorporation by reference for prospectuses and interaction with the EuGB Regulation

Hogan Lovells on

ESMA has recently provided some answers to questions from market participants on the new rules around incorporation by reference under the EU Prospectus Regulation. This follows the changes brought in under the EU Listing Act...more

A&O Shearman

Industry associations urge ESMA to issue a no-action letter on EMIR 3 AAR implementation

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Four industry associations—EFAMA, EACP, ISDA, and FIA—have published a letter addressed to the European Securities and Markets Authority (ESMA) and the European Commission (EC), raising concerns about the implementation of...more

Mayer Brown

ESMA Publishes Final Report on Technical Advice Concerning the Prospectus Regulation

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A) BACKGROUND On October 8, 2024, the EU Council adopted the Listing Act – a regulation amending, among other things, the Prospectus Regulation (EU) 2017/1129. Even though the Listing Act went into force on 4 December 2024,...more

A&O Shearman

ESMA calls on platform providers to combat unauthorised financial promotions

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The European Securities and Markets Authority (ESMA) has issued written letters to several major social media and platform companies—including X, Meta, TikTok, Alphabet, Telegram, Snap, Amazon, Apple, Google and Reddit—urging...more

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