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Regulation (EU) No 1095/2010 of the European Parliament and of the Council of 24 November 2010 establishing a European Supervisory Authority (European Securities and Markets Authority), amending Decision No 716/2009/EC and repealing Commission Decision 2009/77/EC (ESMA Regulation)RecitalsChapter I Establishment and legal status (arts. 1-7)Article 1 Establishment and scope of actionArticle 2 European System of Financial SupervisionArticle 3 Accountability of the AuthoritiesArticle 4 DefinitionsArticle 5 Legal statusArticle 6 CompositionArticle 7 SeatChapter II Tasks and powers of the authority (arts. 8-39)Article 8 Tasks and powers of the AuthorityDraft Article 8a Duty of cooperationArticle 9 Tasks related to consumer protection and financial activitiesArticle 9a No action lettersArticle 10 Regulatory technical standardsArticle 11 Exercise of the delegationArticle 12 Revocation of the delegationArticle 13 Objections to regulatory technical standardsArticle 14 Non-endorsement or amendment of draft regulatory technical standardsArticle 15 Implementing technical standardsArticle 16 Guidelines and recommendationsArticle 16a OpinionsArticle 16b Questions and answersArticle 17 Breach of Union lawArticle 17a Protection of reporting personsDraft Article 17aa Failure in supervision on approval of financial products, services or entitiesDraft Article 17aaa Suspension of rights to provide services on a cross-border basisArticle 18 Action in emergency situationsArticle 19 Settlement of disagreements between competent authorities in cross-border situationsDraft Article 19a Collaboration platformsArticle 20 Settlement of disagreements between competent authorities across sectorsArticle 21 Colleges of supervisorsArticle 22 General provisions on systemic riskArticle 23 Identification and measurement of systemic riskArticle 24 Permanent capacity to respond to systemic risksArticle 25 Recovery and resolution proceduresArticle 26 European system of national Investor Compensation SchemesArticle 27 European system of resolution and funding arrangementsArticle 28 Delegation of tasks and responsibilitiesDraft Article 28a Mutual assistance between competent authoritiesDraft Article 28b General principles applicable to the enforcement of decisions imposing administrative finesArticle 29 Common supervisory cultureArticle 29a Union strategic supervisory prioritiesArticle 30 Peer reviews of competent authoritiesArticle 31 Coordination functionArticle 31a Information exchange on fitness and proprietyArticle 31b Coordination function in relation to orders, transactions and activities with significant cross-border effectsArticle 32 Assessment of market developments, including stress testsArticle 33 International relations including equivalenceArticle 34 Other tasksArticle 35 Collection of informationArticle 35a Exchange of information between authorities and with other entitiesArticle 35b Integrated reporting systemArticle 36 Relationship with the ESRBArticle 37 Securities and Markets Stakeholder GroupArticle 38 SafeguardsArticle 39 Decision-making proceduresDraft Article 35c Data platformDraft Chapter IIa Powers of the authority over financial market participants under the authority's suupervision (draft arts. 39a-39n)Draft Article 39a ScopeDraft Article 39b Requests for informationDraft Article 39c InvestigationsDraft Article 39d On-site inspectionsDraft Article 39e Procedural rules for supervisory measures and finesDraft Article 39f FinesDraft Article 39g Periodic penalty paymentsDraft Article 39h Supervisory measuresDraft Article 39i Administrative sanctions and measures against natural personsDraft Article 39j Hearing of the persons concernedDraft Article 39k Disclosure, nature, enforcement and allocation of fines and periodic penalty paymentsDraft Article 39l SettlementDraft Article 39m Review by the Court of Justice of the European UnionDraft Article 39n Supervisory feesChapter III Organisation (arts. 40-53)Section 1 Board of Supervisors (arts. 40-44)Article 40 CompositionArticle 41 Internal committeesArticle 42 Independence of the Board of SupervisorsArticle 43 TasksArticle 43a Transparency of decisions adopted by the Board of SupervisorsArticle 44 Decision makingSection 2 Management Board (drafts. 44a-44b and arts. 45-47)Draft Article 44a Composition and appointment of the Executive BoardDraft Article 44b Decision-makingArticle 45 CompositionArticle 45a Decision-makingDraft Article 45c Internal committeesArticle 45b Coordination GroupsArticle 46 Independence of the Management BoardDraft Article 46a Tasks of the Executive BoardArticle 47 TasksSection 3 Chairperson (arts. 48-50)Article 48 Appointment and tasksArticle 49 Independence of the ChairpersonArticle 49a ExpensesArticle 50 ReportSection 4 Executive Director (arts. 51-53)Article 51 AppointmentArticle 52 IndependenceArticle 53 TasksChapter IV Joint bodies of the European Supervisory Authorities (arts. 54-59)Section 1 Joint Committee of European Supervisory Authorities (arts. 54-57)Article 54 EstablishmentArticle 55 CompositionArticle 56 Joint positions and common actsArticle 57 Sub-CommitteesSection 2 Board of Appeal (arts. 58-59)Article 58 Composition and operationArticle 59 Independence and impartialityChapter V Remedies (arts. 60-61)Article 60 AppealsArticle 60a Exceeding of competence by the AuthorityArticle 61 Actions before the Court of Justice of the European UnionChapter VI Financial provisions (arts. 62-66)Article 62 Budget of the AuthorityArticle 63 Establishment of the budgetArticle 64 Implementation and control of the budgetArticle 65 Financial rulesArticle 66 Anti-fraud measuresChapter VII General provisions (arts. 67-75)Article 67 Privileges and immunitiesArticle 68 StaffArticle 69 Liability of the AuthorityArticle 70 Obligation of professional secrecyArticle 71 Data protectionArticle 72 Access to documentsArticle 73 Language arrangementsArticle 74 Headquarters AgreementArticle 75 Participation of third countriesDraft Chapter VIIa Delegated Acts (draft. 75a)Draft Article 75a Exercise of delegationChapter 8 Transitional and final provisions (arts. 76-82)Article 76 Relationship with the Committee of European Securities RegulatorsArticle 77 Transitional staff provisionsArticle 78 National provisionsArticle 79 AmendmentsArticle 80 RepealArticle 81 ReviewArticle 82 Entry into forceDone at
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Draft proposed changes: Regulation (EU) No 1095/2010 of the European Parliament and of the Council of 24 November 2010 establishing a European Supervisory Authority (European Securities and Markets Authority), amending Decision No 716/2009/EC and repealing Commission Decision 2009/77/EC (ESMA Regulation)
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AI Summary of Article 26 European system of national Investor Compensation Schemes

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Version status: Applicable | Document consolidation status: Updated to reflect all known changes
Version date: 1 January 2011 - onwards
Version 3 of 3

Article 26 European system of national Investor Compensation Schemes

1. The Authority shall contribute to strengthening the European system of national Investor Compensation Schemes (ICS) by acting under the powers conferred to it in this Regulation to ensure the correct application of Directive 97/9/EC with the aim of ensuring that national Investor Compensation Schemes are adequately funded by contributions from the concerned financial market participants, including where appropriate financial market participants headquartered in third-countries, and provide a high level of protection to all investors in a harmonised framework throughout the Union.

2. Article 16 concerning the Authority's powers to adopt guidelines and recommendations shall apply to Investor Compensation Schemes.

3. The Authority may develop regulatory and implementing technical standards as specified in the legislative acts referred to in Article 1(2) in accordance with the procedure laid down in Articles 10 to 15.

4. The review of this Regulation provided for in Article 81 shall in particular examine the convergence of the European system of national Investor Compensation Schemes.

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