On 29 January 2026, the European Securities and Markets Authority (ESMA) issued its 2027-2029 Programming Document.

Among other things the Programming Document notes:

• ESMA will play a central role in the implementation of the Savings and Investments Union through policy making, enhanced supervisory convergence and potential new direct supervisory responsibilities.
• ESMA is in the midst of a significant expansion of its direct supervisory responsibilities, which include consolidated tape providers and ESG rating providers. In parallel, the regulatory framework continues to evolve. Key milestones include the transition to T+1 settlement in October 2027 and the strengthening of central counterparty supervision under the European Market Infrastructure Regulation 3.
• ESMA will continue to phased implementation of the European Single Access Point, the EU-wide digital platform for public financial and sustainability information, with the first phase scheduled to launch in second half of 2027.