European Securities and Markets Authority. ESMA is the European supervisory authority for the capital markets. ESMA is an independent EU authority that aims to contribute to the effectiveness and stability of the EU financial system by ensuring the integrity, transparency, efficiency and orderly functioning of the securities markets as well as enhancing investor protection. ESMA is frequently mandated to issue guidance in relation to EU directives and regulations. It is also mandated to work in conjunction with national competent authorities in the EEA.

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