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Cross sectoral work

Cross sectoral work

The Joint Committee also undertakes work related to other cross-sectoral issues, such as the regulation of benchmarks, structured financial products (securitisation), credit rating agencies and others.​


European Forum for Innovation Facilitators (EFIF)


The EFIF provides a platform for supervisors to meet regularly to share experiences from engagement with firms through innovation facilitators (regulatory sandboxes and innovation hubs), to share technological expertise, and to reach common views on the regulatory treatment of innovative products, services and business models, overall boosting bilateral and multilateral coordination.

The EFIF was established further to the January 2019 Joint ESA report on regulatory sandboxes and innovation hubs which identified a need for action to promote greater coordination and cooperation between innovation facilitators to support the scaling up of FinTech across the single market.

EU Digital Finance Platform and Innovation Facilitators in the EU

The EU Digital Finance Platform is a new collaborative space bringing together industry and public authorities. Among other functionalities, such as the European fintech map, it enables the cross-border testing framework.

You will find here the innovation facilitators in the EU

EFIF Terms of References

For further information about the EFIF, see the Terms of Reference

EFIF procedural framework for cross border testing

EFIF procedural framework for cross border testing

EFIF events

Financial conglomerates

The Joint Committee acts as a forum for the exchange of supervisory information, experiences and practices on financial conglomerates, through which the ESAs develop joint positions and agree common acts in this area.

As part of its responsibilities the Joint Committee maintains and publishes a list of identified financial conglomerates as required under the Financial Conglomerates Directive (Directive 2002/87/EC).

Financial Education

The European Supervisory Authorities (EBA, EIOPA and ESMA - ESAs) promote transparency, simplicity and fairness in the market for consumer financial products or services, including by reviewing and coordinating financial literacy and education initiatives by the competent authorities. The three ESAs closely cooperate in the area of Financial Education in order to maximise the impact of their respective efforts.

Joint projects in 2022 include: