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

ESMA's 2027 annual work programme is aligned with the 2023-2028 strategy and continues to build on activities initiated in previous years, while adapting to the emerging priorities shaped by the Market Integration and Supervision Package (MISP) proposals and the continued advancement of the Simplification and Burden Reduction (SBR) agenda, while retaining sufficient flexibility to respond swiftly to new priorities as they emerge.

 2027 work programme
Work programme 2027
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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.

The Single Programming Document 2026-2028 (adopted in January 2025) included initial drafts of the 2026 Budget and Annual Work Programme.

These drafts have been updated following their formal adoption: the 2026 Budget was finalised in December 2025, and the 2026 Annual Work Programme in September 2025.

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