Laws and regulations

Acts and directly binding EU regulations

Crowdfunding

• Regulation (EU) 2020/1503 of the European Parliament and of the Council on European (external link) crowdfunding service providers for business, and amending Regulation (EU) 2017/1129 and Directive (EU) 2019/1937
• Commission Delegated Regulation (EU) 2022/1988 (external link) extending the transitional period for continuing to provide crowdfunding services in accordance with national law as referred to in Article 48(1) of Regulation (EU) 2020/1503 of the European Parliament and of the Council
• Commission Delegated Regulation (EU) 2022/2111 (external link) - conflicts of interest requirements for crowdfunding service providers
• Commission Delegated Regulation (EU) 2022/2112 (external link) - requirements and arrangements for the application for authorisation as a crowdfunding service provider
• Commission Delegated Regulation (EU) 2022/2113 (external link) - exchange of information between competent authorities in relation to investigation, supervision and enforcement activities in relation to European crowdfunding service providers for business
• Commission Delegated Regulation (EU) 2022/2114 (external link) - the entry knowledge test and the simulation of the ability to bear loss for prospective non-sophisticated investors in crowdfunding projects
• Commission Delegated Regulation (EU) 2022/2115 (external link) - the methodology for calculating default rates of loans offered on a crowdfunding platform
• Commission Delegated Regulation (EU) 2022/2116 (external link) - the measures and procedures for crowdfunding service providers’ business continuity plan
• Commission Delegated Regulation (EU) 2022/2117 (external link) - the requirements, standard formats and procedures for complaint handling (Text with EEA relevance)
• Commission Delegated Regulation (EU) 2022/2118 (external link) - individual portfolio management of loans by crowdfunding service providers, specifying the elements of the method to assess credit risk, the information on each individual portfolio to be disclosed to investors, and the policies and procedures required in relation to contingency funds
• Commission Delegated Regulation (EU) 2022/2119 (external link) - the key investment information sheet
• Commission Implementing Regulation (EU) 2022/2120 (external link) - data standards and formats, templates and procedures for reporting information on projects funded through crowdfunding platforms
• Commission Implementing Regulation (EU) 2022/2121 (external link) – the standard forms, templates and procedures for the cooperation and exchange of information between competent authorities and ESMA in relation to European crowdfunding service providers for business
• Commission Implementing Regulation (EU) 2022/2122 (external link) – the standard forms, templates and procedures for the cooperation and exchange of information between competent authorities concerning European crowdfunding service providers for business
• Commission Implementing Regulation (EU) 2022/2123 (external link) - the standard forms, templates and procedures for the notifications of national marketing requirements applicable to crowdfunding service providers by competent authorities to ESMA

Securitisation

• Regulation (EU) 2017/2402 of the European Parliament and of the Council (external link) laying down a general framework for securitisation and creating a specific framework for simple, transparent and standardised securitisation, and amending Directives 2009/65/EC, 2009/138/EC and 2011/61/EU and Regulations (EC) No 1060/2009 and (EU) No 648/2012

OTC derivatives

• Regulation (EU) No 648/2012 (external link) on OTC derivatives, central counterparties and trade repositories

• OTC derivatives and clearing obligation

  • Regulatory technical standards (EU) No 149/2013 (external link) on indirect clearing arrangements, the clearing obligation, the public register, access to a trading venue, non-financial counterparties, risk mitigation techniques for OTC derivatives contracts not cleared by a CCP
  • Regulatory technical standards (EU) No 285/2014 (external link) on direct, substantial and foreseeable effect of contracts within the Union and to prevent the evasion
  • Regulatory Technical standards (EU) No 2205/2015 (external link) – on classes of over-the-counter (OTC) derivatives, which are subject to the clearing obligation

• Trade reporting

  • Regulatory technical standards (EU) No 148/2013  (external link) on the minimum details of the data to be reported to trade repositories
  • Implementing technical standards (EU) No 1247/2012 (external link) on the minimum details of the data to be reported to trade repositories
  • Regulatory technical standards (EU) No 151/2013 (external link) specifying the data to be published and made available by trade repositories and operational standards for aggregating, comparing and accessing the data

• Trade repositories

  • Regulatory technical standards (EU) No 150/2013 (external link) specifying the details of the application for registration as a trade repository
  • Implementing technical standards (EU) No 1248/2012 (external link) specifying the details of the application for registration as a trade repository
  • Commission Delegated Regulation (EU) No 1003/2013 (external link) on fees charged by the ESMA to trade repositories
  • Commission delegated Regulation (EU) No 667/2014 (external link) on rules of procedure for penalties imposed on trade repositories

•  CCPs

  • Regulatory technical standards (EU) No 876/2013 (external link) on colleges for central counterparties
  • Implementing technical standards (EU) No 484/2014 (external link) on the hypothetical capital of a central counterparty
  • Regulatory technical standards (EU) No 153/2013 (external link) on requirements for central counterparties
  • Regulatory technical standards (EU) No 152/2013 (external link) on capital requirements for central counterparties
  • Implementing technical standards (EU) No 1249/2012 (external link) on the format of the records to be maintained by central counterparties