In Cyprus, the European Securities and Markets Authority (ESMA) has unveiled its work programme for 2027, which provides for expanded supervisory powers, simplified regulatory requirements, and more active use of data and artificial intelligence. The programme was reported by the Cypriot publication Cyprus Mail.
ESMA Chair Verena Ross said that 2027 would be an important stage for the EU Savings and Investments Union, as a number of strategic initiatives move into practical implementation. According to her, the regulator seeks to strengthen the single market, investor protection, and financial stability amid an unstable and risky market environment.
In 2027, ESMA plans to supervise providers of consolidated tape data and external reviewers of European green bonds. The authority will also assess applications and begin supervising ESG rating providers, as well as adapt to expanded powers regarding benchmark administrators.
Together with other European supervisory authorities, ESMA will supervise critical third-party ICT service providers. The regulator will continue to monitor and promote compliance with the Digital Operational Resilience Act within its supervisory mandates. Separately, it will assess the implications of EMIR 3 reforms for the resilience of EU clearing markets and for reducing the bloc’s dependence on certain systemically important clearing services outside the European Union.
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ESMA will continue cooperating with national competent authorities, including in the supervision of crypto-asset service providers under the MiCA regulation. Other priorities include the implementation of the European Single Access Point and the transition to the T+1 settlement cycle, which will shorten the standard settlement period for relevant securities transactions.
The regulator will also support the implementation of the Retail Investment Strategy and promote clearer and more accessible information for investors. ESMA’s four initiatives to simplify requirements — concerning transaction and fund reporting, the retail investor experience, and risk-based supervision — will move to a new stage in 2027.
ESMA will develop its own data platform, use artificial intelligence-based tools for supervision, and strengthen cybersecurity. The programme also provides for further study of AI’s impact on financial markets and the potential of tokenisation for EU capital markets.
Source: UA
