The European Securities and Markets Authority (ESMA) has launched a one-stop-shop portal to make the search for financial service providers registered in the European Union easier.‎

The register will help customers identify firms which have been acting without the ‎correct permissions, including those knowingly running a scam. ‎ It also provides a reference to sanctions applied by the competent ‎authorities in the member states under several European ‎legislations.‎

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ESMA’s new portal will have one search field in which users will be able to find the regulatory status ‎of a business by looking up its name or reference number. The results will display the firm’s basic information ‎such as its contact details, the permissions it has and the legal status, e.g. whether they are authorized or approved.

Certain MiFID ‎investment firms including Systematic Internalisers will also be searchable.‎

The new register is aimed at making it easier for users to find information on businesses ‎which operate as MiFID trading venues, MiFID data reporting service providers, ‎UCITS management companies, and AIFMD fund managers including funds ‎managed/marketed in the ‎European Union.‎