The European Securities Markets Authority (ESMA) is an independent European Union authority that contributes to EU financial stability by ensuring integrity, transparency, efficiency and investor protection. It is fully accountable to the European Parliament.
ESMA fosters supervisory convergence amongst EU securities regulators and across financial sectors by working mainly on securities legislation contributing to a single rulebook in Europe. It is responsible for coordinating the actions of securities supervisors and adopting emergency measures in crisis situations.
ESMA also contributes to the work of the European Systemic Risk Board, which identifies potential risks to the financial system and provides advice to diminish threats to the stability of the European Union.
ESMA 2014 Regulatory Work Programme