On 10 May 2023, the European Securities and Markets Authority (ESMA) published a letter from its Chair, Verena Ross, to John Berrigan (Director-General, DG for Financial Stability, Financial Services and Capital Markets Union, European Commission) regarding the prioritisation of ESMA’s 2023 deliverables.

The letter explains that, in order to ensure ESMA’s ability to deliver on its 2023 work programme effectively, it has identified, among its planned work, a set of deliverables which could be deprioritised or postponed.

As such, the letter highlights the deprioritised deliverables, which relate to ESMA’s commitments vis-à-vis the European Commission. The deliverables are listed in an Annex to the letter and consist principally of reports from ESMA to the Commission under various pieces of sectoral legislation as well as a request for technical advice on EuVECA/EuSEF and an annual peer review relating to the supervision of central counterparties. Specific reasons for the deprioritisation of each of these deliverables are also summarised in the Annex.