ESMA outlines key initiatives for 2027, focusing on simplifying regulatory frameworks, enhancing data use, and advancing market integration and supervision.
Why it matters. Regulatory changes will impact financial markets, investor protection, and the overall efficiency of EU capital markets.
“2027 marks an important milestone for the Savings and Investments Union (SIU) as many of ESMA's strategic initiatives move into the delivery phase. While co-legislators continue their work on the Market Integration and Supervision Package (MISP), ESMA is already advancing on key elements of the SIU agenda including initiatives to simplify the regulatory, reporting and supervisory framework. ESMA…
ESMA’s four flagship simplification initiatives on transaction reporting, funds reporting, the retail investor journey and risk-based supervision will also enter a new phase in 2027. They are intended to reduce unnecessary administrative burdens, improve the usability of regulatory data and make supervision more effective. Further details are set out in the report also published today which outli…
Tokenisation will remain as a priority for ESMA, further expanding the work on the opportunities it can bring to the EU capital markets.
ESMA will carry out oversight activities for Critical ICT Third-Party Service Providers together with the other European Supervisory Authorities and continue monitoring and promoting compliance with the Digital Operational Resilience Act (DORA) across all of its supervisory mandates.
It will also strengthen cybersecurity capabilities and advance work on crypto-assets and the impact of artificial intelligence on financial markets.
ESMA will further enhance its data capabilities and promote innovation in the supervisory process, through the development of its Data Platform and the deployment of AI-based tools to support supervision.
Alongside its direct supervisory responsibilities, ESMA will enhance supervisory convergence across the EU, continuing the strong cooperation with National Competent Authorities (NCAs), including on supervision of crypto-asset service providers (CASPs) under MiCA.
ESMA will prepare for the resulting changes to its mandates and responsibilities.
In 2027, ESMA will review the impact of recent reforms (EMIR 3) aimed at making EU clearing markets more resilient. The work will help ensure that EU clearing houses remain robust and reduce the EU's dependence on certain systemically important clearing services located outside the EU.
ESMA will be delivering other priorities supporting the SIU, including implementation of the European Single Access Point and the transition to T+1 settlement.
ESMA will advance its supervision of consolidated tape providers and external reviewers of European Green Bonds, as well as process the applications and begin supervision of ESG rating providers. It will also adapt to its expanded responsibilities for benchmark administrators.
ESMA will continue to enhance investor protection by supporting the implementation of the Retail Investment Strategy and promoting clear, accessible information for investors.
ESMA will advance its supervision of consolidated tape providers and external reviewers of European Green Bonds, as well as process the applications and begin supervision of ESG rating providers.
