The European Securities and Markets Authority (ESMA) has published its first Supervisory Convergence Work Programme 2016 (SCWP), detailing the activities and tasks it will carry out to promote sound, efficient and consistent supervision across the EU. The SCWP expands on the high level objective outlined in its Annual Work Programme 2016 and fulfils a key commitment in ESMA’s Strategic orientation 2016-2020 to outline how it would refocus its resources from single rulebook to supervisory convergence work.
Among ESMA’s supervisory convergence priorities for 2016 is preparing for the sound, efficient and consistent implementation and supervision of MiFID II and MiFIR. ESMA notes that intensive work is needed in 2016 regardless of the delay in order to ensure that national competent authorities have the necessary clarity in good time.
View ESMA’s Supervisory Convergence Work Programme 2016, 11 February 2016