European Union:
European Securities And Markets Authority Publishes Annual Report
13 July 2018
Shearman & Sterling LLP
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On June 19, 2018, the European Securities and Markets Authority
published its Annual Report, dated June 15, 2018. The report sets
out ESMA's key achievements against its 2017 objectives of
promoting supervisory convergence, assessing risks to investors,
markets and financial stability, completing a single rulebook for
the EU financial markets and directly supervising trade
repositories, credit rating agencies and third-country CCPs. The
report also discusses ESMA's contributions to the work of the
Joint Committee of the European Supervisory Authorities.
The report does not consider the focus areas for ESMA in 2018,
which are set out in ESMA's work programs. However, ESMA
indicates that in 2018 it will be, among other things: (i) issuing
further opinions on pre- transparency waivers under the Markets in
Financial Instruments package; (ii) engaging with credit rating
agencies and trade repositories on their strategy, governance,
operational matters and preparations for Brexit; and (iii)
continuing its work to finalize the technical standards and
technical advice under the EU
Prospectus Regulation. The report is available at:
https://www.esma.europa.eu/sites/default/files/library/esma20-95-916_2017_annual_report.pdf.
The content of this article is intended to provide a general
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