In its 2027-2029 work programme published on Thursday 5 February, the European Securities and Markets Authority (ESMA) announces that it is stepping up its action against a backdrop of modest growth, high uncertainty and geopolitical tensions, in order to support the integration of capital markets as part of a ‘savings and investment union’ (see EUROPE 13765/17).
ESMA plans to significantly extend its direct supervisory missions, particularly with regard to market data providers, ESG rating agencies, European green bond examiners and critical technology providers under the DORA regulation (see EUROPE 13786/26).
The year 2027 will also be marked by the implementation of structural reforms, including the transition to ‘T+1’ settlement (see EUROPE 13729/29) and the continuation of work linked to the revisions of ‘EMIR’, ‘CSDR’ and sustainable finance (see EUROPE 13803/25).
The authority has also announced its intention to focus on regulatory simplification, reducing reporting costs and strengthening its digital capabilities, with the roll-out of the European Single Point of Access (ESAP) (see EUROPE 13515/21) and the increased use of artificial intelligence in supervision.
See the programme: https://aeur.eu/f/kna (Original version in French by Bernard Denuit)