ESMA will lack sufficient resources to execute all the tasks that were initially planned for 2015. The Work Programme explains the areas where reprioritisation had to take place.
The revised programme - based on an approved budget of €33,601,402 and 137 Establishment Plan posts following the adoption of the EU Budget - sets out how ESMA intends to achieve its statutory objectives of investor protection and stable and orderly functioning markets through its operational activities of convergence, risk monitoring and analysis, the single rulebook and supervision.
ESMA’s Board of Supervisors has approved a revised work programme to account for the difference of €5m and 10 Establishment Plan posts; representing a 15% reduction compared to the planned ESMA budget and 7% of its Establishment Plan. ESMA will therefore lack sufficient resources to execute all the tasks that were initially planned for 2015. The Work Programme explains the areas where reprioritisation had to take place, including the risk that ESMA will not fully meet its legal obligations, for instance due to the delay of delivery compared to legally set timetables.
Letter to the EU institutions
Revised ESMA 2015 Work Programme
© ESMA
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