On 2 October 2019, the Joint Committee of the European Supervisory Authorities (ESAs) published its work programme for 2020. From 2020 onwards, the Joint Committee will have an amended scope as their work on cybersecurity and retail financial services and depositor, consumer and investor protection issues are now being emphasised. In addition, the Joint Committee’s competence for anti-money laundering matters will be transferred to a permanent internal committee of the European Banking Authority, although the European Securities and Markets Authority and the European Insurance and Occupational Pensions Authority will continue to contribute to this work.
The Joint Committee will continue to focus its work on matters including:
- finalising its proposals to amend the regulatory technical standards relating to the Key Information Documents for Packaged Retail and Insurance products (PRIIPS) as well as continuing to provide guidance for the PRIIPs Regulation where necessary;
- developing technical standards for sustainability related disclosures, as well as monitoring and analysing FinTech innovations in this area;
- promoting coordination and cooperation among national innovation facilitators to foster the scaling up of innovation in the financial sector in line with the FinTech Action plan;
- assessing the way financial institutions have implemented the ESA’s guidelines on complaints handling; and
- working on a consistent approach to cross-sectoral questions relating to the Securitisation Regulation. The Joint Committee will also work on practical and operational issues in relation to the supervision of the Securitisation Regulation.