Strategy and Work Programme

The Strategy guides ESMA in its mission to enhance investor protection, promote orderly financial markets and safeguard financial stability.

ESMA produces an annual work programme specifying the activities and tasks of the Authority for the upcoming year, based on an adopted multi-annual work programme. ESMA’s annual work programme contains the operational sub-activities’ objectives, priorities and deliverables linked to the strategic priorities of the Authority.

ESMA Strategy 2023-2028

ESMA Strategy 2023-2028 provides strategic orientation to ESMA activities.
In this period, ESMA will focus on strengthening supervision,
enhancing the protection of retail investors, fostering effective markets and
financial stability, enabling sustainable finance, as well as facilitating
technological innovation and effective use of data. These strategic priorities and
thematic drivers will be translated on annual basis to the Annual Work Programme
that details the activities and tasks of ESMA for each upcoming year.

▸ More about the main elements of the ESMA Strategy 2023-2028

ESMA Strategy 2023 - 2028
ESMA Strategy 2023 - 2028

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Work Programme

The work programme describes objectives and outputs for each of ESMA’s strategic 
priorities and thematic drivers and for each of the sectors within ESMA’s remit.
Outputs are divided into three categories: (i) ongoing work; (ii) annual outputs; and (iii)
2025 specific outputs, which are known at this stage. To help guide the reader, 
the below pictograms are used to indicate the types of outputs presented in different subsections.

2025 Work Programme
ESMA Work programme 2025
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The Single Programming Document

The Single Programming Document (SPD) outlines ESMA's planned activities and corresponding resource needs for the upcoming three years, pursuant to Article 63 of the ESMA Regulation. This document encompasses both multi-annual priorities and a preliminary draft of the Work Programme for 2026, which undergoes further refinement by September of the current year. 

Developed in alignment with ESMA's Strategy and evolving legislative mandates, the SPD adheres to the European Commission's guidance. It is subject to approval by both the Management Board and the Board of Supervisors.

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