Featured Product

    ESMA Publishes Its Strategic Orientation for 2020-22

    January 09, 2020

    ESMA has published the strategic orientation for 2020-22, which sets out its future focus and reflects its expanded responsibilities and powers following the ESAs Review. The strategic orientation details planned activities of ESMA, to respond to the challenges faced by EU, its citizens, and capital markets, including developing a large retail investor base to support the Capital Markets Union, promoting sustainable finance and long-term oriented capital markets, dealing with the opportunities and risks posed by digitalization, and ensuring a proportionate approach to regulation.

    This strategic orientation considers the new powers and responsibilities of ESMA, including the following:

    • Assessing risks to investors, markets, and financial stability—ESMA will continue to strengthen its capabilities to identify and assess risks to investors and financial stability in EU, building further on high-quality data. The risk assessment function drives the priority setting of the regulatory and supervisory (convergence) activities of ESMA.
    • Supervisory Convergence—ESMA continues to protect the EU Single Market by promoting supervisory convergence focused on supervisory outcomes and by using innovative tools. ESMA prioritizes its supervisory convergence activity through risk-driven assessments and its commitment to consumer protection. This includes building an EU common outcome-focused supervisory and enforcement culture, prioritizing through enhanced risk identification and data collection, and monitoring and following-up on the application of the EU Single Rulebook.
    • Direct supervision of specific financial entities—ESMA aims to further strengthen its reputation as supervisor of credit rating agencies and trade repositories, including for securities financing transactions, and will establish itself as a credible supervisor of securitization repositories, critical benchmarks, data service providers, third-country central counterparties, and other third country firms in a number of different areas. For its supervisory responsibilities vis-à-vis the third-country central counterparties, ESMA will step up its risk identification and financial stability assessments.
    • Completing the Single Rulebook for EU financial markets—ESMA will continue to develop itself as a source of expertise and strategic direction on financial market regulation recognized by its stakeholders. ESMA will contribute to the planned post implementation reviews of EC on the major acts adopted as part of the post-financial crisis agenda and will prioritize the areas where further work is needed to ensure investor protection and well-functioning markets.

     

    Related Links

    Keywords: Europe, EU, Banking, Securities, Supervisory Convergence, Direct Supervision, Single Rulebook, Sustainable Finance, Proportionality, Digitalization, Credit Rating Agencies, ESAs, ESMA

    Related Articles
    News

    EBA Finalizes Templates for One-Off Climate Risk Scenario Analysis

    The European Banking Authority (EBA) has published the final templates, and the associated guidance, for collecting climate-related data for the one-off Fit-for-55 climate risk scenario analysis.

    November 28, 2023 WebPage Regulatory News
    News

    EBA Mulls Inclusion of Environmental & Social Risks to Pillar 1 Rules

    The European Banking Authority (EBA) recently published a report that recommends enhancements to the Pillar 1 framework, under the prudential rules, to capture environmental and social risks.

    October 31, 2023 WebPage Regulatory News
    News

    BCBS Consults on Disclosure of Crypto-Asset Exposures of Banks

    As a follow on from its prudential standard on the treatment of crypto-asset exposures, the Basel Committee on Banking Supervision (BCBS) proposed disclosure requirements for crypto-asset exposures of banks.

    October 19, 2023 WebPage Regulatory News
    News

    BCBS and EBA Publish Results of Basel III Monitoring Exercise

    The Basel Committee on Banking Supervision (BCBS) and the European Banking Authority (EBA) have published results of the Basel III monitoring exercise.

    October 18, 2023 WebPage Regulatory News
    News

    PRA Updates Timeline for Final Basel III Rules, Issues Other Updates

    The Prudential Regulation Authority (PRA) recently issued a few regulatory updates for banks, with the updated Basel implementation timelines being the key among them.

    October 18, 2023 WebPage Regulatory News
    News

    US Treasury Sets Out Principles for Net-Zero Financing

    The U.S. Department of the Treasury has recently set out the principles for net-zero financing and investment.

    October 17, 2023 WebPage Regulatory News
    News

    EC Launches Survey on G7 Principles on Generative AI

    The European Commission (EC) launched a stakeholder survey on the draft International Guiding Principles for organizations developing advanced artificial intelligence (AI) systems.

    October 14, 2023 WebPage Regulatory News
    News

    ISSB Sustainability Standards Expected to Become Global Baseline

    The finalization of the two sustainability disclosure standards—IFRS S1 and IFRS S2—is expected to be a significant step forward in the harmonization of sustainability disclosures worldwide.

    September 18, 2023 WebPage Regulatory News
    News

    IOSCO, BIS, and FSB to Intensify Focus on Decentralized Finance

    Decentralized finance (DeFi) is expected to increase in prominence, finding traction in use cases such as lending, trading, and investing, without the intermediation of traditional financial institutions.

    September 18, 2023 WebPage Regulatory News
    News

    BCBS Assesses NSFR and Large Exposures Rules in US

    The Basel Committee on Banking Supervision (BCBS) published reports that assessed the overall implementation of the net stable funding ratio (NSFR) and the large exposures rules in the U.S.

    September 14, 2023 WebPage Regulatory News
    RESULTS 1 - 10 OF 8938