CNMV - ESMA/EBA Guidelines and recommendations

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Últimas guías, directrices o recomendaciones adoptadas por la CNMV

Directrices en los nombres de los fondos que utilicen el término ESG o términos relacionados con la sostenibilidad (21.08.2024). European Securities Markets Autorhoity (ESMA)

"Estas directrices entrarán en vigor el 21.11.2024"
Directrices sobre la aplicación de la prueba de capital del grupo a los grupos de empresas de servicios de inversión de conformidad con el artículo 8 del Reglamento (UE) 2019/2033 (11.04.2024). Europena Banking Authority (EBA)
Directrices sobre la nueva presentación de datos históricos en el marco de presentación de información elaborado por la ABE (09.04.2024). European Banking Authority (EBA)
Directrices relativas al ejercicio de comparación sobre las prácticas en favor de la diversidad, incluyendo las políticas de diversidad y la brecha salarial entre géneros, de conformidad con la Directiva 2013/36/UE y la Directiva (UE) 2019/2034 (18.12.2023). European Banking Authority (EBA)
Directrices sobre los escenarios utilizados para las pruebas de resistencia en virtud del Reglamento sobre fondos del mercado monetario (FMM) (06.03.2024) European Securities and Markets Authority (ESMA)
Directrices sobre la transferencia de datos entre registros de operaciones en virtud del Reglamento relativo a los derivados extrabursátiles, las entidades de contrapartida central y los registros de operaciones (EMIR) y el Reglamento sobre operaciones de financiación de valores (OFV) (05.01.2024) European Securities Market Authority (ESMA)
Directrices sobre los tipos y el contenido de las disposiciones de los acuerdos de cooperación (artículo 79 del CCPRRR) (02.02.2024) European Securities Markets Authority (ESMA).
Directrices sobre la evaluación de la resolubilidad (artículo 15, apartado 5, del RRRECC) (09.02.2024) European Securities Markets Authority (ESMA).
Directrices sobre el resumen de los planes de resolución (09.02.2024) European Securities Markets Authority (ESMA).
Directrices sobre las disposiciones y procedimientos escritos para el funcionamiento de los colegios de autoridades de resolución (02.02.2024) European Securities Markets Authority (ESMA).
Directrices para las notificaciones en virtud del Reglamento EMIR (23.10.2023) European Securities and Markets Authority (ESMA)
Directrices por las que se modifican las Directrices EBA/GL/2022/01 sobre la mejora de la resolubilidad para entidades y autoridades de resolución con arreglo a los artículos 15 y 16 de la Directiva 2014/59/UE (Directrices sobre resolubilidad) para introducir una nueva sección sobre el testeo de la resolubilidad (13.06.2023). European Banking Authority (EBA)
Directrices sobre los requisitos de gobernanza de productos en virtud de la MiFID II (03.08.2023) European Securities and Markets Autohority (ESMA)
Directrices sobre la metodología que debe utilizar la autoridad de resolución para determinar la valoración de los contratos antes de las rescisión a que se refiere el artículo 29, apartado 1, del RRRECC . (02.06.2023)European Securities and Markets Authority (ESMA)

Market abuse

MAR Guidelines. Delay in the disclosure of inside information prudential supervision and interactions with prudential supervision (13.04.2022). European Securities and Markets Authority (ESMA).
Guidelines on RAM: Information relating to commodity derivatives markets or related spot markets for the purpose of the definition of inside information on commodity derivatives (30.09.2016).
MAR Guidelines:Persons receiving market soundings (10.11.2016). European Securities Market Authority (ESMA)
MAR Guidelines: Delay in the disclosure of inside information (20.10.2016). European Securities Market Authority (ESMA).

Cybersecurity

Guidelines on outsourcing to cloud service providers (18.12.2020). European Securities Market Authority (ESMA).

Investment firms

Guidelines on the application of the group capital test for investment firm groups in accordance with Article 8 of Regulation (EU) 2033/2019 (11.04.2024). Europena Banking Authority (EBA)
Guidelines on resubmission of historical data under the EBA reporting framework (08.04.2024). European Banking Authority (EBA)
Guidelines on benchmarking of diversity practices, including diversity policies and gender pay gap, under Directive 2013/36/EU and Directive (EU) 2019/2034 (18.12.2023) European Banking Authority (EBA)
Guidelines on common procedures and methodologies for the supervisory review and evaluation process (SREP) under Directive (EU) 2019/2034 (20.07.2022). European Securities and Market Authority (ESMA. European Banking Authority (EBA).
Guidelines for institutions and resolution authorities complement the resolvability assessment (Transferability guidelines) to for transfer strategies (27.09.2022) European Banking Authority (EBA).
Guidelines on the benchmarking exercises on remuneration practices and the gender pay gap under Directive (EU) 2019/2034. (30.06.2022) European Banking Authority (EBA).
Guidelines on the data collection exercises regarding high earners under Directive 2013/36/EU and under Directive (EU) 2019/2034 (30/06/2022) European Banking Authority (EBA).
Guidelines on the criteria for the exemption of investment firms of liquidity requirements in accordance with article 43(4) of regulation 2019/2033 (29.07.2022). European Banking Authority (EBA).
Guidelines on internal governance under Directive (EU) 2019/2034 (22.11.2021). European Banking Authority (EBA).
Final report on guidelines on sound remuneration policies under Directive (EU) 2019/2034 (22.11.2021). European Banking Authority (EBA).
Guidelines on the application of C6 and C7 of Annex 1 of MiFID II (05.06.2019). European Securities Market Authority (ESMA).
Joint ESMA and EBA Guidelines on the assessment of the suitability of members of the management body and key function holders under Directive 2013/36/EU and Directive 2014/65/EU. (26/09/2017) European Banking Authority (EBA) European Securities Market Authority (ESMA).
Joint Guidelines on the prudential assessment of acquisitions and increases of qualifying holdings in the financial sector. (20.12.2016). Joint Committee of the European Supervisory Authorities.
Guidelines on the convergence of supervisory practices relating to the consistency of supervisory coordination arrangements for financial conglomerates (22.12.2014). European Banking Authority (EBA).

Issuers and listed companies

Guidelines on the assessment of the suitability of members of the management body and key function holders under Directive 2013/36/EU and Directive 2014/65/EU. (02.07.2021) European Securities Market Authority (ESMA) and European Banking Authority (EBA).
Guidelines on enforcement of financial information (23.11.2020). European Securities Market Authority (ESMA).
Guidelines reporting under articles 4 and 12 SFTR. (29-03-2021) European Securities Market Authority (ESMA).
Guidelines on disclosure requirements under the prsopecus regulation. (04.03.2021). European Securities Market Authority (ESMA).
Guidelines on Risk factors under the Prospectus Regulation. (05.10.2015). European Securities Market Authority (ESMA).
Alternative performance measures guidelines-ESMA (05.10.2015) European Securities Market Authority (ESMA).
Guidelines on enforcement of financial information (28.10.2014). European Securities Market Authority (ESMA).

Automated trading systems (ATS)

Systems and controls in an automated trading environment for trading platforms, investment firms and competent authorities (24.02.2012). European Securities Market Authority (ESMA).

Market infrastructures

Guidelines on transfer of data between Trade Repositories under EMIR and SFTR (05.01.2024) Europea Securities Market Authority (ESMA)
Guidelines on the types and content of the provisions of Cooperation Arrangements (Article 79 of CCPRRR) (02.02.2024) European Securities Markets Authority (ESMA).
Guidelines on the assessment of resolvability (Article 15(5) of CCPRRR) (09.02.2024) European Securities Markets Authority (ESMA).
Guidelines on the summary of resolution plans (09.02.2024) European Securities Markets Authority (ESMA).
Guidelines on written arrangements and procedures for the functioning of resolution colleges (02.02.2024) European Securities Markets Authority (ESMA).
Guidelines for reporting under EMIR (23.10.2023) European Securities and Markets Authority (ESMA)
Guidelines on the methodology to be used by the resolution authority for determining the valuation of contracts prior to their termination as referred to in Article 29(1) of CCPRRR (02.06.2023) European Securities and Markest Authority (ESMA).
Guidelines on the application of the circumstances under which a central counterparty is deemed to be failing or likely to fail (Article 22(6) of CCPRRR) (01.06.2023) European Securities and Markest Authority (ESMA).
Guidelines further specifying the circumstances for temporary restrictions in the case of a significant non-default event in accordance with Article 45a of EMIR (02.06/2023) European Securities and Markets Authority (ESMA).
Guidelines on the consistent application of the triggers for the use of Early Intervention Measures (Article 18(8) of CCPRRR) (01.06.203) European Securities and Markets Authority (ESMA).
Guidelines on CCP recovery plan indicators (Article 9(5) CCPRRR) (31.01.2022) European Securities Market Authority (ESMA).
Guidelines on CCP recovery plan scenarios (Article 9(12) of CCPRRR) (31.01.2022) European Securities Market Authority (ESMA).
Guidelines on standard forms, formats and templates to apply for permission to operate a DLT market infrastructure (08.03.2023) European Securities Markets Authority (ESMA).
Guidelines on common procedures and methodologies on supervisory review and evaluation process of CCPs under Article 21 of EMIR (10/03/2022).
Guidelines on settlement fails reporting under Article 7 of CSDR. (08.12.2021). European Securities and Markets Authority (ESMA).
Guidelines on settlement fails reporting under Article 7 of CSDR. (08.12.2021). European Securities and Markets Authority (ESMA).
Guidelines on written agreements between members of CCP colleges. (01.07.2021) European Securities Markets Authority (ESMA).
Guidelines on standardised procedures and messaging protocols under Article 6(2) of Regulation (EU) No 909/2014. (08.10.2019) European Securities Market Authority (ESMA).
Guidelines on EMIR Anti-Procyclicality Margin Measures for Central Counterparties (15.04.2019). European Securities Market Authority (ESMA).
Guidelines on CCP conflict of interest management (05.04.2019). European Securities Market Authority (ESMA).
Guidelines on Internalised Settlement Reporting under Article 9 of CSDR (30.04.2019). European Securities Market Authority (ESMA).
Guidelines on the process for the calculation of the Indicators to Determine the Most Relevant Currencies in which Settlement Takes Place (05.05.2017). European Securities Markets Authority (ESMA).
Guidelines on the process for the calculation of the Indicators to Determine the Substantial Importance of a CSD for a Host Member State (01.06.2017) European Securities Markets Authority (ESMA).
Guidelines for the cooperation between authorities under Articles 17 and 23 of Regulation (EU) No 909/2014. (11.07.2017) European Securities Markets Authority (ESMA).
Guidelines on access by a CSD to the transaction feeds of CCPs and trading venues (08/06/2017).
Guidelines on CSD participants default rules and procedures (08/06/2017).
Guidelines and Recommendations regarding the implementation of the CPSS-IOSCO Principles for Financial Market Infrastructures in respect of Central Counterparties. (04.09.2014) European Securities Market Authority (ESMA).
Guidelines and Recommendations regarding written agreements between members of CCP colleges (03.10.2013) European Securities Market Authority (ESMA).
Guidelines and Recommendations for establishing consistent, efficient and effective assessments of interoperability arrangements (10.06.2013). European Securities Market Authority (ESMA).

MiFID

Guidelines on MiFID II product governance requirements (03.08.2023) European Securities and Markets Autohority (ESMA)
Guidelines on certain aspects of the MiFID II suitability requirements (03.04.2023). European Securities and Markets Authority (ESMA).
Guidelines on certanis aspects of the MIFID II remuneration requirements (03.04.2023). European Securities and Markets Authority (ESMA).
Guidelines on certain aspects of the MiFID II appropriateness and execution requirements only requirements (12.04.2022). European Securities Markets Authority (ESMA).
Guidelines on the MiFID II/ MiFIR obligations on market data (18.08.2021). European Securities Market Authority (ESMA).
Guidelines on certain aspects of the MiFID II compliance function requirements (06.04.2021). European Securities and Market Authority (ESMA).
Guidelines on the application of C6 and C7 of Annex 1 of MiFID II (05.06.2019). European Securities Market Authority (ESMA).
Guidelines on MiFID II product governance requirements. (02.06.2017) European Securitites and Markets Authority (ESMA).
Guidelines on transaction reporting, order record keeping and clock synchronisation under MiFID II. (10.10.2016 corrected on 07.08.17) European Securities Market Authority (ESMA).
Guidelines on the calibration of circuit breakers and publication of trading halts under MiFID II. (06.04.2017). European Securities and Markets Authority (ESMA).
Guidelines on cross selling practices (11.07.2016). European Securities Market Authority (ESMA).
Guidelines for the assessment of knowledge and competence (17.12.2015). European Securities Market Authority (ESMA).
Guidelines on complex debt instruments and structured deposits (04.02.2016). European Securities Market Authority (ESMA).
Guidelines on remuneration policies and practices (MiFID)(11.06.2013). European Securities Market Authority (ESMA).
Guidelines on certain aspects of the MiFID compliance function requirements (28.09.2012). European Securities Market Authority (ESMA).
Guidelines on certain aspects of the MiFID suitability requirements (06.06.2012). European Securities Market Authority (ESMA).

Collective investments in transferable securities

Guidelines on funds names using ESG or sustainability-related terms (21.08.2024) European Securities Markets Authority (ESMA).
"These guidelines will come into force next 21st of november 2024"
Guidelines on stress test scenarios under the MMF Regulation (06.03.2024) European Securities and Markets Authority (ESMA)
Guidelines on stress tests scenarios under Article 28 of the MMF Regulation (21.03.2018) European Securities Market Authority (ESMA).
Guidelines on stress test scenarios under the MMF Regulation. (04.05.2022) European Securities Markets Authority.
Guidelines on marketing communications under the Regulation on cross-border distribution of funds (02.08.2021). European Securities Market Authority (ESMA).
Guidelines on article 25 of Directive 2011/61/EU (23.06.2021). European Securities Market Authority (ESMA).
Guidelines on stress tests scenarios under Article 28 of the MMF Regulation (21.03.2018) European Securities Market Authority (ESMA).
Guidelines on performance fees in UCITS and certain types of AIFs. (03.04.2020). European Securities Markets Authority (ESMA).
Guidelines on liquidity stress testing in UCITS and AIFs. (16.07.2020). European Securities Market Authority (ESMA).
Guidelines on the reporting to competent authorities under Article 37 of the MMF Regulation. (22.06.2020) European Securities Market Authority (ESMA).
Recommendation of the European Systemic Risk Board of 6 May 2020 on liquidity risks in investment funds (ESRB/2020/4).
Guidelines on stress test scenarios under article 28 of the MMF Regulation. (Calibration update 2019) (03.03.2020) European Securities Market Authority.
Guidelines on stress tests scenarios under Article 28 of the MMF Regulation. (21.03.2017). European Securities Market Authority (ESMA).
Guidelines on sound remuneration policies under the UCITS Directive (14.10.2016)
Guidelines on cross selling practices (11.07.2016). "This guide will apply from the 3rd of January 2018". European Securities Market Authority (ESMA).
Guidelines on reporting obligations under Articles 3(3)(d) and 24(1), (2) and (4) of the AIFMD IFMD. (08.08.2014). European Securities Market Authority (ESMA).
Guidelines for competent authorities and UCITS management companies: Guidelines on ETFs and other UCITS issues (01.08.2014). European Securities Market Authority (ESMA).
Guidelines on the model MoU concerning consultation, cooperation and the exchange of information related to the supervision of AIFMD entities (18.07.2013). European Securities Market Authority (ESMA).
Guidelines on key concepts of the AIFMD (24.05.2013). European Securities Market Authority (ESMA).
Guidelines on sound remuneration policies under the AIFMD (14.10.2016). Guidelines on sound remuneration policies under the AIFMD (11.02.2013). European Securities Market Authority (ESMA).
Guidelines for competent authorities and UCITS management companies (18.12.2012). European Securities Market Authority (ESMA).
Guidelines to competent authorities and UCITS management companies on risk measurement and the calculation of global exposure for certain types of structured UCITS (14.04.2011). European Securities Market Authority (ESMA).

Resolution of investment firms

Guidelines amending Guidelines EBA/GL/2022/01 on improving resolvability for institutions and resolution authorities under articles 15 and 16 of Directive 2014/59/EU (Resolvability Guidelines) to introduce a new section on resolvability testing (13.06.2023) European Banking Authority (EBA).
Guidelines secrecy on the equivalence of confidentiality regimes of thirdcountry authorities and professional. (03/05/2022). European Banking Authority (EBA).
Final Repor t Guidelines on improving resolvability for institutions and resolution authorities under articles 15 and 16 BRRD (13.01.2022). European Banking Authority (EBA).
Guidelines on the interpretation of the different circumstances when an institution shall be considered as failing or likely to fail under Article 32(6) of Directive 2014/59/EU. (06.08.2015) European Banking Authority (EBA).
Guidelines on the provision of information in summary or collective form for the purposes of Article 84(3) of Directive 2014/59/EU (19.04.2016) European Banking Authority (EBA).
Guidelines on on the minimum criteria to be fulfilled by a business reorganisation plan (19.05.2016) (19.05.2016). European Banking Authority (EBA).
Guidelines on the application of simplified obligations under Article 4(5) of Directive 2014/59/EU (16.10.2015) European Banking Authority (EBA).
Guidelines on the specification of measures to reduce or remove impediments to resolvability and the circumstances in which each measure may be applied under Directive 2014/59/EU (19.12.2014) European Banking Authority (EBA).

Short selling

Exemption for market making activities and primary market operations under Regulation (EU) 236/2012 of the European Parliament and the Council on short selling and certain aspects of Credit Default Swaps (02.04.2013). European Securities Market Authority (ESMA)