On Tuesday 1 October, the EU’s European Securities and Markets Authority (ESMA) published its Annual Work Programme 2025, affirming its commitment to “resilient, transparent and sustainable” European financial markets.
The programme focuses on improving the efficiency and attractiveness of European capital markets and supporting the implementation of a savings and investment union (see EUROPE 13393/3).
ESMA will work to implement the mandates received in the last legislative cycle, including regulations on green bonds and ESG rating agencies. New responsibilities also include the adoption of technical standards, notably under EMIR III, and the implementation of the Digital Operational Resilience Act, which aims to ensure a robust operational resilience framework.
“Through these implementation tasks, we will provide clarity to assist market participants and support national competent authorities to achieve convergent supervisory approaches. To make EU capital markets more effective and efficient, ESMA stands ready to support and advise the incoming Commission and co-legislators as the new priorities take shape”, ESMA Chair Verena Ross said in a statement.
The authority said on Tuesday that it would use all the tools at its disposal “to further harmonise supervisory approaches and practices across its remit, including common supervisory actions”.
To see ESMA’s annual work programme, go to https://aeur.eu/f/dnz (Original version in French by Bernard Denuit)