The European Securities and Markets Authority (ESMA) has published its 2017 Supervisory Convergence Work Programme (SCWP), which details the activities and tasks it will carry out to promote sound, efficient and consistent supervision across the European Union.
ESMA and national competent authorities (NCAs) will focus their supervisory convergence work on the following priorities:
- the implementation of MiFID II/MiFIR and MAR including the underlying IT projects;
- improving the quality to data collected by NCAs;
- investor protection in the context of cross-border provision of services; and
- convergence in the supervision of European Union CCPs.
These priorities have been developed taking into account different factors, including the market environment, legislative and regulatory developments, and NCAs’ supervisory priorities.