The European Securities and Markets Authority (ESMA) has published its Strategic Orientation 2016-2020. The Strategic Orientation records and explains the strategic choices ESMA has made and will assist it in making future choices and trade-offs, in the context of the current legislative and institutional framework. ESMA notes that its initial start-up phase is over and that it is entering a new phase of development where it expects its focus to shift towards implementation and convergence of supervisory practices.

ESMA has also published its Annual Report 2014 noting that as the first phase of regulatory reform that was driven by the financial crisis is gradually coming to an end, its focus will increasingly shift to implementation and supervision. On the last page of the Annual Report ESMA sets out a link to its 2015 work programme.

View ESMA launches new strategy and publishes 2014 annual report, 15 June 2015