The European Securities and Markets Authority (ESMA) has published its 2018 Work Programme (WP) has been added to your bookmarks.
The European Securities and Markets Authority (ESMA) has published its 2018 Work Programme (WP)
What should you expect?
Steven Maijoor, ESMA Chair, said:
“ESMA will focus on promoting supervisory convergence and assessing risks in 2018 with a particular emphasis on promoting the consistent application of MiFID II and MiFIR. This reflects both the importance of ensuring a smooth transition to the new MiFID regime and our shift as a supervisory authority from building the single rulebook to ensuring its application through convergent supervisory practices across the European Union.”
Work Programme 2018
I. Promoting supervisory convergence - Continue to support sound, efficient and consistent implementation of new supervisory requirements, with particular emphasis on MiFID/R; complete IT systems either required by legislation or which increase ESMA’s and/or NCAs’ efficiency; and develop and apply convergence tools, including peer reviews and stress tests;
II. Assessing risks to investors, markets and financial stability - Enhance analytical input into ESMA’s operational work, including stress tests, impact assessments, product assessments and financial stability monitoring; and establish adequate data management and statistics capabilities;
How can Deloitte help
Deloitte Central Europe brings significant experience with MIFID II / MIFIR implementations for national competent authorities, lenders and investment firms in the greater Central Europe region, ensuring peer benchmarking and adopt peer best practices where appropriate.
Ask our team for a consultation or a workshop to assess how prepared you are for ESMA’s 2018 supervisory priorities