ESMA releases final report on SME Growth Markets

The European Securities and Markets Authority (ESMA) has released the final report on the functioning of the regime for SME Growth Markets as part of MiFID/MiFIR.

In its report, the regulator makes a number of recommendations and possible amendments to the MiFID II framework to the SME Growth Markets regime, which would improve the “attractiveness” of the rule.

The regulator claims the regime has been successful and seventeen multilateral trading facilities have registered so far. However, it believes that SMEs need more incentive to access capital markets. As such, this report offers changes aimed at simplifying investors access to information and promoting concentration of liquidity on SME Growth Markets.

Other recommendations include promoting the concentration of liquidity on SME Growth Markets and improving standardisation and access to information for investors. ESMA also suggests support be offered on how to develop homogeneous admission requirements.

Now the report has been submitted to the European Commission, it will be taken into consideration for further legislative proposals.

Read the final report here.

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