Changes are being made to a key piece of European law whose purpose is to protect you when you buy or invest in financial products. The Markets in Financial Instruments Directive (MiFID) is being updated and strengthened in some important areas and will be known as MiFID II.MiFID is central to...

The European Securities and Markets Authority (ESMA) published today an update of its Questions & Answers (Q&A) document on the application of the Alternative Investment Managers Directive (AIFMD).The updated Q&A clarifies: the reporting obligations to national competent authorities; as well as...

This evaluation of blending as an EU aid delivery mechanism aims to: provide an overall and independent assessment of blending. identify key lessons and recommendations to improve and inform future choices on blending. The scope includes EuropeAid support through seven investment facilities over...

The securities markets in central and eastern Europe are small: the capitalisation in domestic shares in the 10 acceding countries represents barely 4 per cent of the capitalisation in Euronext. The capitalisation of these markets as share of the gross domestic product is still weak. However,...

The European Securities and Markets Authority (ESMA) has published its Annual Report 2013 (Report) on credit rating agencies (CRAs) in the European Union (EU). The Report also outlines ESMA’s supervisory work plan for this year.ESMA has found that CRAs continue to progress in how they comply...

The updated Q&A provides clarifications regarding the publication of sovereign ratings and conflict of interests concerning investments in CRAs.The purpose of this Q&A is to provide clarity on the requirements and practice in the application of the CRA Regulation and in particular, the CRA 3...