EU Regulatory Update

Author: Clerkin Lynch LLP

Date Published 25/11/2021

ESMA announces focus areas for 2022

The European Securities and Markets Authority (ESMAhas published its 2022 Annual Work Programme (AWP), setting out its priority work areas for 2022.

The 2022 AWP has been developed at a time of significant change for ESMA, which has new powers and responsibilities, as well as having received growth in staff numbers and senior management changes. The key areas of focus for 2022 include: the exercise of new, and existing, supervisory powers for benchmarks and data service providers (DRSPs) as well as central counterparties (CCPs); its contribution to the European Union (EU) priorities on the development of the Capital Markets Union (CMU), sustainable finance and innovation; and the convergence of supervisory and regulatory practices across the EU. In addition, it will continue to monitor the impact of the United Kingdom’s withdrawal from the EU on the evolution of EU and global capital markets.

ESMA’s mission is to deliver on its mission to enhance investor protection and promote stable and orderly financial market. It will focus on these objectives through the following workstreams:
1. Cross-Cutting Themes
a. Capital Markets Union
b. Sustainable finance
c. Innovation and digitalisation
2. Supervisory Convergence
3. Risk Assessment .
4. Single Rulebook
5. Direct Supervision

Action: no action necessary.