Resources › EU Financial Regulatory Q&A Database EU Financial Regulatory Q&A Database Official Q&As published by EBA, ESMA, EIOPA and the ESA Joint Committee. Non-binding but treated
as authoritative guidance by national competent authorities across the EU.
Final — published answerArchive — superseded (EBA only)Pending — awaiting answerRejected — out of scope or duplicate
All regulations Alternative Investment Fund Managers Directive (AIFMD) Directive 2011/61/EU Benchmarks Regulation (BMR) - Regulation 2016/1011 Central Securities Depositories Regulation (CSDR) Regulation (EU) No 909/2014- PTR- CSDR Credit Rating Agencies Regulation (CRAR) Regulation (EC) No 1060/2009 Directive 2002/87/EC (FiCOD) Directive 2009/110/EC (EMD) Directive 2013/36/EU (CRD) Directive 2014/17/EU (MCD) Directive 2014/49/EU (DGSD) Directive 2014/59/EU (BRRD) Directive 2014/65/EU - Markets in Financial Instruments Directive (MiFID II) Directive 2014/92/EU (PAD) Directive 2015/2366/EU (PSD2) Directive 2022/2556/EU (DORA Dir) Directive (EU) 2015/849 (AMLD) Directive (EU) 2019/2034 (IFD) EIOPA-BoS/18-114 - Information request towards NCAs regarding provision of occupational pensions information EIOPA-BoS-23-030 - Regular information requests regarding provision of occupational pensions information EMIR ESGR - Regulation (EU) 2024/3005 (EU) 2016/2341 - IORP II Directive (EU) 2016/2341 - IORP II Directive, (EU) No 2016/97 - Insurance Distribution Directive (EU) 2016/2341 - IORP II Directive, Other (EU) 2017/653 - PRIIPs Delegated Regulation for key information document (EU) 2017/653 - PRIIPs Delegated Regulation for key information document, (EU) No 1286/2014 - PRIIPs Regulation (EU) 2019/1238 - Pan-European Personal Pension Product (PEPP) (EU) 2019/1238 - Pan-European Personal Pension Product (PEPP), (EU) 2022/2454 - ITS with regard to supervisory reporting of risk concentrations and intra-group transactions (FICOD, (EU) 2023/894 - ITS with regard to the templates for the submission of information necessary for supervision, EIOPA-BoS-23-030 - Regular information requests regarding provision of occupational pensions information (EU) 2019/2088 - SFDR (EU) 2020/852 - Taxonomy Regulation (EU) 2022/2454 - ITS with regard to supervisory reporting of risk concentrations and intra-group transactions (FICOD (EU) 2022/2454 - ITS with regard to supervisory reporting of risk concentrations and intra-group transactions (FICOD, (EU) 2023/894 - ITS with regard to the templates for the submission of information necessary for supervision (EU) 2022/2554 - Digital Operational Resilience Act (DORA) (EU) 2023/894 - ITS with regard to the templates for the submission of information necessary for supervision (EU) 2023/894 - ITS with regard to the templates for the submission of information necessary for supervision, (EU) 2023/895 - ITS for the disclosure of solvency and financial condition report (EU) 2023/894 - ITS with regard to the templates for the submission of information necessary for supervision, (EU) No 2015/35 - supplementing Dir 2009/138/EC - taking up & pursuit of the business of Insurance and Reinsurance (SII) (EU) 2023/894 - ITS with regard to the templates for the submission of information necessary for supervision, Other (EU) 2023/894 - ITS with regard to the templates for the submission of information necessary for supervision, Revised Guidelines on Contract Boundaries, Guidelines on contract boundaries (EU) 2023/895 - ITS for the disclosure of solvency and financial condition report EU Green Bond Regulation (EU) 2023/2361 (EU) No 1286/2014 - PRIIPs Regulation (EU) No 2009/138 - Solvency II Directive (Insurance and Reinsurance) (EU) No 2015/2011 - lists of regional governments & local authorities, exposures to be treated as to central government (EU) No 2015/2013 - standard deviations in relation to health risk equalisation systems (EU) No 2015/2450 - templates for the submission of information to the supervisory authorities (EU) No 2015/2450 - templates for the submission of information to the supervisory authorities, (EU) No 2009/138 - Solvency II Directive (Insurance and Reinsurance) (EU) No 2015/2450 - templates for the submission of information to the supervisory authorities, Guidelines on reporting and public disclosure (EU) No 2015/2451 - templates and structure of the disclosure of specific information by supervisory authorities (EU) No 2015/2451 - templates and structure of the disclosure of specific information by supervisory authorities, (EU) No 2009/138 - Solvency II Directive (Insurance and Reinsurance) (EU) No 2015/2452 - procedures, formats and templates of the solvency and financial condition report (EU) No 2015/35 - supplementing Dir 2009/138/EC - taking up & pursuit of the business of Insurance and Reinsurance (SII) (EU) No 2015/35 - supplementing Dir 2009/138/EC - taking up & pursuit of the business of Insurance and Reinsurance (SII), (EU) No 2009/138 - Solvency II Directive (Insurance and Reinsurance) (EU) No 2015/35 - supplementing Dir 2009/138/EC - taking up & pursuit of the business of Insurance and Reinsurance (SII), (EU) No 2015/2011 - lists of regional governments & local authorities, exposures to be treated as to central government (EU) No 2015/35 - supplementing Dir 2009/138/EC - taking up & pursuit of the business of Insurance and Reinsurance (SII), (EU) No 2015/2450 - templates for the submission of information to the supervisory authorities (EU) No 2015/35 - supplementing Dir 2009/138/EC - taking up & pursuit of the business of Insurance and Reinsurance (SII), (EU) No 2015/2450 - templates for the submission of information to the supervisory authorities, (EU) No 2009/138 - Solvency II Directive (Insurance and Reinsurance) (EU) No 2015/35 - supplementing Dir 2009/138/EC - taking up & pursuit of the business of Insurance and Reinsurance (SII), Guidelines on application of outwards reinsurance (EU) No 2015/35 - supplementing Dir 2009/138/EC - taking up & pursuit of the business of Insurance and Reinsurance (SII), Guidelines on contract boundaries (EU) No 2015/35 - supplementing Dir 2009/138/EC - taking up & pursuit of the business of Insurance and Reinsurance (SII), Guidelines on group solvency (EU) No 2015/35 - supplementing Dir 2009/138/EC - taking up & pursuit of the business of Insurance and Reinsurance (SII), Guidelines on implementation of the long-term guarantee measures (EU) No 2015/35 - supplementing Dir 2009/138/EC - taking up & pursuit of the business of Insurance and Reinsurance (SII), Guidelines on look-through approach (EU) No 2015/35 - supplementing Dir 2009/138/EC - taking up & pursuit of the business of Insurance and Reinsurance (SII), Guidelines on methodology for equivalence assessments by national supervisory authorities under Solvency II (EU) No 2015/35 - supplementing Dir 2009/138/EC - taking up & pursuit of the business of Insurance and Reinsurance (SII), Guidelines on recognition and valuation of assets and liabilities other than technical provisions (EU) No 2015/35 - supplementing Dir 2009/138/EC - taking up & pursuit of the business of Insurance and Reinsurance (SII), Guidelines on valuation of technical provisions (EU) No 2015/35 - supplementing Dir 2009/138/EC - taking up & pursuit of the business of Insurance and Reinsurance (SII), Guidelines on valuation of technical provisions, (EU) No 2009/138 - Solvency II Directive (Insurance and Reinsurance) (EU) No 2015/35 - supplementing Dir 2009/138/EC - taking up & pursuit of the business of Insurance and Reinsurance (SII), Other (EU) No 2015/35 - supplementing Dir 2009/138/EC - taking up & pursuit of the business of Insurance and Reinsurance (SII), Risk-Free Interest Rate - General questions (EU) No 2016/1800 - allocation of Credit Assessments of external CA institutions to objective scale of credit quality steps (EU) No 2016/97 - Insurance Distribution Directive (EU) No 2016/97 - Insurance Distribution Directive, (EU) No 2009/138 - Solvency II Directive (Insurance and Reinsurance) (EU) No 2017/1469 - standardised presentation format for the insurance product information document (EU) No 2017/1469 - standardised presentation format for the insurance product information document, Guidelines on classification of own funds (EU) No 2017/2358 - product oversight and governance requirements for insurance (EU) No 2017/2358 - product oversight and governance requirements for insurance, (EU) No 2016/97 - Insurance Distribution Directive (EU) No 2017/2358 - product oversight and governance requirements for insurance, Preparatory Guidelines on product oversight & governance arrangements by insurance undertakings & insurance distributors, (EU) No 2016/97 - Insurance Distribution Directive (EU) No 2017/2359 - info requirements and conduct of business rules applicable European Long-Term Investment Funds Regulation (ELTIF) Regulation (EU) 2015/760 European Market Infrastructure Regulation (EMIR) Regulation (EU) No 648/2012- MDP European Market Infrastructure Regulation (EMIR) Regulation (EU) No 648/2012- PTR- Derivatives European Social Entrepreneurship Funds Regulation (EuSEF) Regulation (EU) No 346/2013 European Venture Capital Regulation (EuVECA) Regulation (EU) No 345/2013 Guidelines on application of life underwriting risk module Guidelines on application of outwards reinsurance Guidelines on basis risk Guidelines on classification of own funds Guidelines on classification of own funds, (EU) No 2009/138 - Solvency II Directive (Insurance and Reinsurance) Guidelines on contract boundaries Guidelines on financial stability reporting Guidelines on financial stability reporting, Guidelines on reporting for financial stability purposes Guidelines on group solvency Guidelines on health catastrophe risk sub-module Guidelines on look-through approach Guidelines on loss-absorbing capacity of technical provisions and deferred taxes Guidelines on own risk and solvency assessment Guidelines on recognition and valuation of assets and liabilities other than technical provisions Guidelines on reporting and public disclosure Guidelines on reporting for financial stability purposes Guidelines on ring-fenced funds Guidelines on submission of information to NCAs (Preparatory phase) Guidelines on supervision of branches of third-country insurance undertakings Guidelines on supervisory review process Guidelines on system of governance Guidelines on the Forward looking assessment of own risks Guidelines on treatment of related undertakings, including participations Guidelines on use of internal models Guidelines on valuation of technical provisions Market Abuse Regulation (MAR) Regulation (EU) No 596/2014 - Market Intergrity Markets in Financial Instruments Directive II (MiFID II) Directive 2014/65/EU- Investor Protection and Intermediaries Markets in Financial Instruments Directive II (MiFID II) Directive 2014/65/EU- MDP Markets in Financial Instruments Directive II (MiFID II) Directive 2014/65/EU- Secondary Markets Markets in Financial Instruments Regulation (MiFIR) Regulation (EU) No 600/2014 - Investor Protection and Intermediaries Markets in Financial Instruments Regulation (MiFIR) Regulation (EU) No 600/2014- MDP Markets in Financial Instruments Regulation (MiFIR) Regulation (EU) No 600/2014- Secondary Markets MiCA Other Packaged Retail and Insurance-based Investment Products Regulation (PRIIPS) Regulation (EU) No 1286/2014 PRIIPs Prospectus Regulation 2017/1129 Regulation 2020/1503 - European crowdfunding service providers for business Regulation 2021/23 - recovery and resolution of central counterparties (CCPRRR) Regulation 648/2012 - OTC derivatives, central counterparties and trade repositories (EMIR) - CCPs Regulation (EU) 2015/847 (WTR) (recast) Regulation (EU) 2019/2088 - Sustainable Finance Disclosure Regulation (SFDR) Regulation (EU) 2022/2554 - The Digital Operational Resilience Act (DORA) Regulation (EU) 2022/858 - DLT Pilot Regime Regulation (DLTR) Regulation (EU) 2023/1113 (WTR II) Regulation (EU) 2024/886 (IPR) Regulation (EU) No 2017/2402 (SecReg) Regulation (EU) No 2019/2033 (IFR) Regulation (EU) No 2022/2554 (DORA Reg) Regulation (EU) No 2023/1114 (MiCAR) Regulation (EU) No 575/2013 (CRR) Regulation (EU) No 648/2012 (EMIR) Regulation (EU) No 909/2014 (CSDR) - only RTS 2017/390 Revised Guidelines on Contract Boundaries Revised Guidelines on valuation of technical provisions Revised Guidelines on valuation of technical provisions, (EU) No 2015/35 - supplementing Dir 2009/138/EC - taking up & pursuit of the business of Insurance and Reinsurance (SII) Revised Guidelines on valuation of technical provisions, (EU) No 2015/35 - supplementing Dir 2009/138/EC - taking up & pursuit of the business of Insurance and Reinsurance (SII), (EU) No 2009/138 - Solvency II Directive (Insurance and Reinsurance) Risk-Free Interest Rate - Credit and currency adjustments Risk-Free Interest Rate - Deep, Liquid and Transparent maturities Risk-Free Interest Rate - Extrapolation Risk-Free Interest Rate - Extrapolation, Risk-Free Interest Rate - Financial market data Risk-Free Interest Rate - Extrapolation, Risk-Free Interest Rate - General questions, Risk-Free Interest Rate - VA calculations Risk-Free Interest Rate - Financial market data Risk-Free Interest Rate - General questions Risk-Free Interest Rate - Matching adjustment Risk-Free Interest Rate - Matching adjustment, (EU) No 2009/138 - Solvency II Directive (Insurance and Reinsurance) Risk-Free Interest Rate - VA calculations Risk-Free Interest Rate - VA calculations, Risk-Free Interest Rate - VA representative portfolios Risk-Free Interest Rate - VA representative portfolios Securities Financing Transactions Regulation (SFTR) Regulation (EU) 2015/2365- MDP Securitisation Regulation (EU) 2017/2402 SFDR Short Selling Regulation (SSR) Regulation (EU) No 236/2012 Symmetric adjustment of the equity capital charge Transparency Directive (TD) Directive 2004/109/EC Undertakings for Collective Investment in Transferable Securities Directive (UCITS) Directive 2009/65/EC
7,005 Q&As · page 4 of 141
Payouts in fiat currency by CASPs in the context of exchange services
MiCA · Art. Article 75 of MiCA
ESMA Published Answer Updated
Answered 2026-02-18
Application of Title II requirements to CASPs operating a trading platform for crypto-assets
MiCA · Art. Article 5(2) of MiCA
ESMA Published Answer Updated
Answered 2026-02-18
Overlap between offers of crypto-assets and placing
MiCA · Art. Article 3(1)(22) of MiCA
ESMA Published Answer Updated
Answered 2026-02-18
Interests earned from client funds deposited at credit institutions
MiCA
ESMA Published Answer Updated
Answered 2026-02-18
Calculation of fixed overheads
MiCA · Art. Article 67 / Paragraph 3
ESMA Published Answer Updated
Answered 2026-02-18
Clarification on Withdrawal Requirements under Article 75 of MiCA for CASPs
MiCA · Art. Article 75 MiCA
ESMA Published Answer Updated
Answered 2026-02-18
Application of a new exception to PDMRs’ general prohibition to trade during the close period
Market Abuse Regulation (MAR) Regulation (EU) No 596/2014 - Market Intergrity · Art. Article 19 (12a) of MAR as introduced by the Listing Act
ESMA Answer Published
Answered 2026-02-18
Interaction of the APM Guidelines with IFRS 18 Presentation and Disclosure in Financial Statements; APM Guidelines and paragraphs 117 to 125 of IFRS 18
Transparency Directive (TD) Directive 2004/109/EC
ESMA Answer Published
Answered 2026-02-16
Concept of Prominence; Paragraph 35 and 36 of the APM Guidelines.
Transparency Directive (TD) Directive 2004/109/EC
ESMA Published Answer Updated
Answered 2026-02-16
Interim financial statements; Paragraph 31 and 32 of the APMs Guidelines.
Transparency Directive (TD) Directive 2004/109/EC
ESMA Answer Published
Answered 2026-02-16
Measures presented simultaneously inside and outside financial statements; Paragraphs 4, 17, 19, 29, 35 to 36 and 45 to 48 of APMs Guidelines.
Transparency Directive (TD) Directive 2004/109/EC
ESMA Answer Published
Answered 2026-02-16
Risk Free Rate (RFR)
(EU) No 2009/138 - Solvency II Directive (Insurance and Reinsurance)
EIOPA
Answered 2026-02-09
Other, Other
(EU) No 2015/35 - supplementing Dir 2009/138/EC - taking up & pursuit of the business of Insurance and Reinsurance (SII) · Art. 51
EIOPA
Answered 2026-02-09
Reporting Templates
(EU) 2023/894 - ITS with regard to the templates for the submission of information necessary for supervision
EIOPA
Answered 2026-02-09
3495
Risk-Free Interest Rate - VA representative portfolios
EIOPA
Answered 2026-02-09
Solvency Capital Requirement (SCR)
(EU) No 2015/35 - supplementing Dir 2009/138/EC - taking up & pursuit of the business of Insurance and Reinsurance (SII) · Art. 118
EIOPA
Answered 2026-02-09
Classification of phishing-attacks as a reportable major ICT-related incident
Regulation (EU) No 2022/2554 (DORA Reg) · Art. 3
EBA Final Q&A
Answered 2026-02-06
Types of "telephone services" included under the definition of "ICT services"
Regulation (EU) No 2022/2554 (DORA Reg) · Art. 3
EBA Final Q&A
Answered 2026-02-06
Public Authorities Exemption
Regulation (EU) No 2022/2554 (DORA Reg) · Art. Recital 63
EBA Final Q&A
Answered 2026-02-06
Solvency Capital Requirement (SCR)
(EU) No 2015/35 - supplementing Dir 2009/138/EC - taking up & pursuit of the business of Insurance and Reinsurance (SII) · Art. 120
EIOPA
Answered 2026-02-05
3454
(EU) 2017/653 - PRIIPs Delegated Regulation for key information document
EIOPA
Answered 2026-02-05
Technical Provisions (TPs), Solvency Capital Requirement (SCR)
(EU) 2023/894 - ITS with regard to the templates for the submission of information necessary for supervision, Revised Guidelines on Contract Boundaries, Guidelines on contract boundaries
EIOPA
Answered 2026-02-03
Disclosure (Art. 26 – 33, 35 - 39 PEPP)
(EU) 2019/1238 - Pan-European Personal Pension Product (PEPP) · Art. Annex III, Part 3, Section 29 of the Commission Delegated Regulation 2021/473
EIOPA
Answered 2026-01-20
Reporting Templates
(EU) 2016/2341 - IORP II Directive · Art. N/A
EIOPA
Answered 2026-01-19
Risk Free Rate (RFR)
Risk-Free Interest Rate - Financial market data
EIOPA
Answered 2026-01-14
3493
Risk-Free Interest Rate - Extrapolation
EIOPA
Answered 2026-01-13
Reporting Templates
(EU) 2023/894 - ITS with regard to the templates for the submission of information necessary for supervision
EIOPA
Answered 2026-01-12
Solvency Capital Requirement (SCR)
(EU) No 2015/35 - supplementing Dir 2009/138/EC - taking up & pursuit of the business of Insurance and Reinsurance (SII) · Art. 84
EIOPA
Answered 2026-01-12
Technical Provisions (TPs), Solvency Capital Requirement (SCR)
(EU) No 2015/35 - supplementing Dir 2009/138/EC - taking up & pursuit of the business of Insurance and Reinsurance (SII) · Art. 88
EIOPA
Answered 2026-01-12
Solvency Capital Requirement (SCR)
(EU) No 2015/35 - supplementing Dir 2009/138/EC - taking up & pursuit of the business of Insurance and Reinsurance (SII) · Art. 209
EIOPA
Answered 2026-01-12
Reporting Templates
(EU) 2023/894 - ITS with regard to the templates for the submission of information necessary for supervision
EIOPA
Answered 2026-01-12
Calculation of Ideosyncratic and Systematic Risk
Regulation (EU) No 575/2013 (CRR) · Art. 384
EBA Final Q&A
Answered 2026-01-09
Threshold exemptions from deduction from Common Equity Tier 1 items – Reporting within CoRep C 07.00
Regulation (EU) No 575/2013 (CRR) · Art. 430
EBA Final Q&A
Answered 2026-01-09
Solvency Capital Requirement (SCR)
(EU) No 2015/35 - supplementing Dir 2009/138/EC - taking up & pursuit of the business of Insurance and Reinsurance (SII) · Art. 129
EIOPA
Answered 2026-01-08
Technical Provisions (TPs)
(EU) No 2015/35 - supplementing Dir 2009/138/EC - taking up & pursuit of the business of Insurance and Reinsurance (SII), (EU) No 2009/138 - Solvency II Directive (Insurance and Reinsurance) · Art. Article 33 (2015/35), Article 77 (2009/138)
EIOPA
Answered 2026-01-07
Due diligence
Regulation 2020/1503 - European crowdfunding service providers for business · Art. Article 5
ESMA Answer Published
Answered 2026-01-05
Prospectus Q&A exemption
Prospectus Regulation 2017/1129
ESMA Answer Published
Answered 2025-12-19
Prospectus QA exemption
Prospectus Regulation 2017/1129
ESMA Answer Published
Answered 2025-12-19
Exclusion related to UNGC/OECD Guidelines
Undertakings for Collective Investment in Transferable Securities Directive (UCITS) Directive 2009/65/EC
ESMA Answer Published
Answered 2025-12-19
Exclusion related to UNGC/OECD Guidelines
Alternative Investment Fund Managers Directive (AIFMD) Directive 2011/61/EU
ESMA Answer Published
Answered 2025-12-19
3485
Risk-Free Interest Rate - Deep, Liquid and Transparent maturities · Art. N/A
EIOPA
Answered 2025-12-19
Risk Free Rate (RFR)
Risk-Free Interest Rate - Deep, Liquid and Transparent maturities
EIOPA
Answered 2025-12-19
Consumer protection (Art. 48 – 51 PEPP), Packaged retail and insurance-based investment products (PRIIPs), Public Disclosure, Pensions Reporting
(EU) 2019/1238 - Pan-European Personal Pension Product (PEPP)
EIOPA
Answered 2025-12-19
Competences of home and host Member States (Art. 7 - 9 IDD)
(EU) No 2016/97 - Insurance Distribution Directive · Art. 8
EIOPA
Answered 2025-12-19
Other
(EU) No 2016/97 - Insurance Distribution Directive · Art. 8
EIOPA
Answered 2025-12-19
Trading obligation for shares
Markets in Financial Instruments Regulation (MiFIR) Regulation (EU) No 600/2014- Secondary Markets
ESMA Answer Published
Answered 2025-12-19
Group-affiliated small ESG rating providers
ESGR - Regulation (EU) 2024/3005
ESMA Answer Published
Answered 2025-12-18
Content of temporary regime notification
ESGR - Regulation (EU) 2024/3005
ESMA Answer Published
Answered 2025-12-18
Small ESG rating provider no longer meeting temporary regime size requirements
ESGR - Regulation (EU) 2024/3005
ESMA Answer Published
Answered 2025-12-18
ESMA assessment of temporary regime notification
ESGR - Regulation (EU) 2024/3005
ESMA Answer Published
Answered 2025-12-18
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