On Monday 15 June, the European Securities and Markets Authority (ESMA) published a revised work programme for 2020 that includes its response to the crisis caused by the Covid-19 pandemic.
According to ESMA, each activity that was originally planned for 2020 has been assessed and prioritised as high, medium or low priority.
The result of the exercise is that 2020 will be largely marked by the response to the Covid-19 pandemic. ESMA will continue to work with the competent national authorities to ensure a coordinated European response to the crisis, in particular in the areas of short selling, transparency and reporting obligations. It will also continue to provide market participants with risk assessments.
ESMA will nevertheless have other priorities that it has not been able to postpone, including implementation of new competences and tasks (see EUROPE 12401/18) given to it following revision of the architecture of European financial oversight (see EUROPE 12237/15).
Brexit will also continue to occupy the European regulator in 2020 (see EUROPE 12197/21).
The authority says it also still has several regulatory tasks to fulfil under the European Commission's action plans, particularly relating to the Capital Markets Union, financial technology (‘Fintech’) and Sustainable Finance.
To consult the revised work programme, go to: https://bit.ly/2AxWLfI (Original version in French by Marion Fontana)