ESMA key priorities 2020-2022

New resposibilities and powers


ESMA has published a document in which it explains its focus, objective and strategic orientation for the next years. This realignment is a consequence of  the new powers and responsibilities following the outcome of the ESAs Review, EMIR 2.2 and other recent legislative developments and include:

  • Supervisory Convergence - enhanced supervisory convergence tools, such as peer reviews, Q&As, collective supervisory actions and EU Strategic Supervisory Priorities, while it will develop an EU supervisory handbook;  
  •  Investor Protection – it will co-ordinate mystery shopping on retail investment products, develop retail risk indicators, and collect, analyse and report on consumer trends;  
  • International - new tasks for 3rd country equivalence assessments including monitoring regulatory and supervisory developments in equivalent third countries, assisting the European Commission in preparing equivalence decisions, and a strengthened role in international fora.   
  • Transversal topics - ESMA must embed technological innovation, sustainable finance and proportionality in its activities;   
  • Direct Supervision:  
    • 3rd country central counterparties; 
    • critical benchmarks, 3rd country benchmarks and data service providers from 1 January 2022; 
    • Securitisation repositories under the Securitisation Regulation; and 
    • Securities financing transactions under the Securities Financing Transactions Regulation. 

See also: ESMA press release