The European Securities and Markets Authority published its 2026 Annual Work Programme, setting out planned policy and supervisory work under its 2023–2028 strategy. The programme prioritises simplification and burden reduction, with a focus on streamlining rules, enhancing risk-based supervision and pursuing more proportionate reporting requirements while supporting reforms linked to the European Commission’s forthcoming Saving and Investments Union (SIU) Strategy. Planned 2026 work includes continuing three consultations launched in 2025 on integrated funds reporting, transactional reporting and the investor journey, alongside technical support for SIU initiatives such as removing barriers in trading and post-trading, facilitating cross-border provision of funds and strengthening supervision across the EU single market. ESMA expects its supervisory responsibilities to expand through the authorisation and supervision of Consolidated Tape Providers, external reviewers under the European Green Bond framework, ESG rating providers and extended third-country benchmark supervision, and it will, for the first time, jointly oversee critical third-party providers under the Digital Operational Resilience Act with the other European Supervisory Authorities. Delivery priorities also include implementation work on European Market Infrastructure Regulation (EMIR 3) and the European Single Access Point, potential support for the Retail Investment Strategy and reviews of PRIIPs, the Sustainable Finance Disclosure Regulation and the Securitisation Regulation, rollout of the ESMA Data Platform and AI-powered supervisory tools, ongoing MiCA-related work on authorisation and supervision of crypto-asset service providers, and coordination with market participants on the transition to T+1 settlement by 11 October 2027.
European Securities and Markets Authority 2025-10-03
European Securities and Markets Authority publishes 2026 work programme centred on rule simplification and an expanded supervisory remit
The European Securities and Markets Authority (ESMA) released its 2026 Annual Work Programme, focusing on simplification, risk-based supervision, and proportionate reporting. Key initiatives include consultations on integrated funds reporting and the investor journey, plus technical support for the European Commission’s Saving and Investments Union Strategy. ESMA's supervisory scope will expand to include Consolidated Tape Providers, ESG rating providers, and critical third-party providers under the Digital Operational Resilience Act, with additional focus on EMIR 3, the European Single Access Point, and MiCA-related work.