ESMA's Activities

ESMA undertakes a wide range of different activities to achieve its mission and strategic objectives.

ESMA acts as

  • a regulator developing regulatory guidance to supervisors and regulated entities within its remit and drafting proposals for legally binding technical standards;
  • a promotor of supervisory convergence and coordination undertaking peer reviews, organising trainings, facilitating common supervisory actions, developing common EU supervisory priorities;
  • a direct supervisor of a subset of financial infrastructures and service providers;
  • a market monitor carrying out stress tests and publishing reports and research about risks to investors and financial stability;
  • a data and information hub providing infrastructure and data quality control of regulatory data used by supervisors and market participants;
  • a defender of EU common interests in international fora and in relation to non-EU supervisors, promoting common global standards and dialogue with third-country markets and securities supervisors; and
  • a technical advisor to the Commission, Parliament and Council in matters of securities and market supervision by publishing technical advice, opinions and reports.

ESMA undertakes all of these activities in the following sectors:

Investors and Issuers Markets and Infrastructures
  • Investment services (incl. crowdfunding)
  • Investment management (incl. retail distribution of investment products)
  • Issuer Disclosure (incl. financial reporting)
  • Benchmark Administrators
  • Credit Rating Agencies
  • Central Counterparties
  • Data Reporting Service Providers
  • Trading
  • Central Securities Depositories
  • Securitisation Repositories
  • Trade Repositories

ESMA carries out its work according to two thematic drivers:

  • Sustainable Finance: ESMA promotes effective and consistent integration of sustainability-related factors in supervisory, convergence, risk assessment and regulatory activities across all sectors.
  • Technological innovation: Promotes resilience and cyber-security across all sectors and fosters convergence in the regulatory and supervisory treatment of new or innovative financial activities and technological innovation such as crypto-assets.