ESMA Issues Comprehensive Registration Guide For Financial Entities Under Its Direct Supervision

RegCORE Client Alert | Capital Markets Union

QuickTake

On 14 August 2025, the European Securities and Markets Authority (ESMA) published a detailed Registration Guide for financial entities seeking to operate under its direct supervision within the European Union (the Registration Guide). The Registration Guide is a pivotal document for those EU-based and third-country entities (TCEs) seeking registration, authorisation or recognition under ESMA's direct supervision. It provides practical, non-binding guidance on the registration process for a broad range of entities, including credit rating agencies (CRAs), benchmark administrators, trade repositories (TRs), securitisation repositories (SRs), data reporting service providers (DRSPs), external reviewers of European Green Bonds and ESG rating providers. The Registration Guide aims to enhance transparency, consistency and efficiency in the registration process, while clarifying ESMA's expectations and the