General Information & Client Service
  • Americas: +1.212.553.1653
  • Asia: +852.3551.3077
  • China: +86.10.6319.6580
  • EMEA: +44.20.7772.5454
  • Japan: +81.3.5408.4100
Media Relations
  • New York: +1.212.553.0376
  • London: +44.20.7772.5456
  • Hong Kong: +852.3758.1350
  • Tokyo: +813.5408.4110
  • Sydney: +61.2.9270.8141
  • Mexico City: +001.888.779.5833
  • Buenos Aires: +0800.666.3506
  • São Paulo: +0800.891.2518
October 05, 2017

ESMA published its Work Program for 2018, which takes into account ESMA’s Strategic Orientation for 2016-2020. The work program sets out priorities and focus areas for 2018, in support of the ESMA mission to enhance investor protection and promote stable and orderly financial markets.

The key priorities and work areas for 2018 are as follows:

  • Promoting supervisory convergence. Continue to support sound, efficient, and consistent implementation of new supervisory requirements, with emphasis on MiFID/MiFIR; complete IT systems either required by legislation or which increase efficiency of ESMA and/or national competent authorities; and develop and apply convergence tools, including peer reviews and stress tests
  • Assessing risks to investors, markets and financial stability. Enhance analytical input into ESMA’s operational work, including stress tests, impact assessments, product assessments and financial stability monitoring; and establish adequate data management and statistics capabilities
  • Completing the single rulebook for EU financial markets. Complete technical standards and technical advice related to key legislative developments: for example, Securitization, Prospectus, MMF, EMIR Review; maintain the existing Single Rulebook
  • Directly supervising specific financial entities. Intensify supervision to ensure compliance with the spirit of the regulation. In 2018, a small increase is expected in the number of entities to supervise, particularly trade repositories

In addition, the possible changes proposed under the ESA and CCP Reviews, along with ongoing planning for the UK’s exit from the EU, present a changing environment for ESMA. This will require it to be prepared to adapt and reprioritize the 2018 work program, as needed. For 2018, the key focus areas under ESMA’s activities of supervisory convergence, assessing risks, single rulebook, and direct supervision will be:

  • Providing guidance and promoting the consistent application of MiFID II and MiFIR by market participants and national competent authorities
  • Ensuring the quality, integration, usability and transparency of the data that ESMA collects
  • Contributing to the development of Level 2 measures in relation to the revised Prospectus regime
  • Enhancing the effectiveness and lasting impact of supervisory activities at individual credit rating agencies (CRA) and trade repository level

 

Related Link: Work Program for 2018 (PDF)

Keywords: Europe, EU, Securities, Work Program, Supervisory Convergence, Single Rulebook, ESMA

Related Articles
News

HKMA Decides to Maintain Countercyclical Capital Buffer at 2.5%

HKMA announced that, in accordance with the Banking (Capital) Rules, the countercyclical capital buffer (CCyB) ratio for Hong Kong remains at 2.5%.

April 16, 2019 WebPage Regulatory News
News

EP Approves Agreement on Package of CRD 5, CRR 2, BRRD 2, and SRMR 2

The European Parliament (EP) approved the final agreement on a package of reforms proposed by EC to strengthen the resilience and resolvability of European banks.

April 16, 2019 WebPage Regulatory News
News

FDIC Consults on Approach to Resolution Planning for IDIs

FDIC approved an Advance Notice of Proposed Rulemaking (ANPR) and is seeking comment on ways to tailor and improve its rule requiring certain insured depository institutions (IDIs) to submit resolution plans.

April 16, 2019 WebPage Regulatory News
News

EP Resolution on Proposal for Sovereign Bond Backed Securities

The European Parliament (EP) published adopted text on the proposal for a regulation of the European Parliament and of the Council on sovereign bond-backed securities (SBBS).

April 16, 2019 WebPage Regulatory News
News

PRA Seeks Input and Issues Specifications for Insurance Stress Tests

PRA announced that it will conduct an insurance stress test for the largest regulated life and general insurers from July to September 2019.

April 15, 2019 WebPage Regulatory News
News

PRA Finalizes Policy on Approach to Managing Climate Change Risks

PRA published the policy statement PS11/19, which contains final supervisory statement (SS3/19) on enhancing banks’ and insurers’ approaches to managing the financial risks from climate change (Appendix).

April 15, 2019 WebPage Regulatory News
News

EBA Single Rulebook Q&A: First Update for April 2019

EBA published answers to nine questions under the Single Rulebook question and answer (Q&A) updates for this week.

April 12, 2019 WebPage Regulatory News
News

EIOPA Statement on Application of Proportionality in SCR Supervision

EIOPA published a supervisory statement on the application of proportionality principle in the supervision of the Solvency Capital Requirement (SCR) calculated in accordance with the standard formula.

April 11, 2019 WebPage Regulatory News
News

FED Updates Form and Supplemental Instructions for FR Y-9C Reporting

FED updated the form and supplemental instructions for FR Y-9C reporting. FR Y-9C is used to collect data from domestic bank holding companies, savings and loan holding companies, U.S intermediate holding companies, and securities holding companies with total consolidated assets of USD 3 billion or more.

April 11, 2019 WebPage Regulatory News
News

OSFI Finalizes Guidelines on Liquidity Adequacy and NSFR Disclosures

OSFI published the final Liquidity Adequacy Requirements (LAR) guideline and the net stable funding ratio (NSFR) disclosure requirements guideline.

April 11, 2019 WebPage Regulatory News
RESULTS 1 - 10 OF 2920