ESAs publish joint Annual Report for 2021
19 April 2022
The main areas of cross-sectoral focus continued to be joint risk assessment, enhancement of consumer protection, development of the regulatory and supervisory frameworks for sustainable finance and securitisation.
The Joint Committee of the European Supervisory Authorities (ESAs) – EBA, EIOPA and ESMA – published today its 2021 Annual Report, providing a detailed account of its joint work completed over the past year.
The Joint Committee, under ESMA’s chairmanship in
2021, continued to play a central role in the coordination and exchange
of information between the ESAs, the European Commission (EC) and the
European Systemic Risk Board (ESRB). A significant part of its work in
2021 focused on developing the regulatory and supervisory framework for
sustainability-related disclosures.
The main areas of cross-sectoral focus continued to be joint risk
assessment, enhancement of consumer protection, development of the
regulatory and supervisory frameworks for sustainable finance and
securitisation. In addition, monitoring and contributing to the digital
finance developments, supporting FinTech scale up through innovation
hubs and sandboxes as well as cyber security completed the work
programme.
Key workstreams include:
- Sustainability – the development of the regulatory and supervisory
framework for sustainability-related disclosures, including the delivery
of two sets of draft Regulatory Technical Standards (RTS) under the
Sustainable Finance Disclosure Regulation (SFDR);
- Digital finance – extensive technical discussions on topics such as crypto-assets and digital operational resilience;
- Consumer protection – work to prepare the response to the Call for
Evidence from the European Commission in the context of the review of
the PRIIPs Regulation, following the submission of the draft RTS in
January 2021; and
- Securitisation – the delivery of a report on the implementation and
functioning of the Securitisation Regulation as well as an Opinion on
its jurisdictional scope.
ESAs
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