On Wednesday 4 October, the European Banking Authority (EBA), the European Securities and Markets Authority (ESMA) and the European Insurance and Occupational Pensions Authority (EIOPA) published their work programmes for 2024. According to the document, the focus should be on consumer protection, financial innovation, risk assessment and digital operational resilience.
The European Supervisory Authorities will be working to strengthen consumer confidence and protection under the ‘PRIIPs’ regulation on packaged retail and insurance-based investment products and the key information document (see EUROPE 13264/22).
A report, the third, will be published on the extent and quality of voluntary reporting of the main negative impacts of investment decisions on sustainability factors under the Sustainable Finance Disclosure Regulation (SFDR).
The issue of digital operational resilience will also be on the agenda for 2024. “The Joint Committee will continue developing the policy mandates envisaged by DORA (see EUROPE 13259/23) as well as to coordinate the monitoring of digital operational resilience practices and threats including the convergence of regulatory and supervisory practices”, reads the work programme.
The working document also states that 2024 will be devoted to cross-sector analysis, to study the main trends and vulnerabilities in terms of financial stability.
In addition, work will be carried out on financial conglomerates. On this point, the supervisory authorities “will continue to ensure cross-sectoral consistency of work” and will work on common positions in the area of the supervision of financial conglomerates within the framework of the directive concerning them (2002/87).
To see the programme, go to https://aeur.eu/f/8x0 (Original version in French by Thomas Mangin)