ESAs detail joint work from 2021; large focus on sustainability

The Joint Committee of the European Supervisory Authorities (ESAs), which includes the EBA, EIOPA and ESMA have published a report detailing its joint work in 2021.

The Annual Report 2021 revealed that the Joint Committee, under ESMA’s chairmanship in 2021, continued to play a central role in the coordination and exchange of information between the ESAs, the European Commission (EC) and the European Systemic Risk Board (ESRB).

A significant part of its work in 2021 focused on developing the regulatory and supervisory framework for sustainability-related disclosures. This included the delivery of two sets of draft Regulatory Technical Standards (RTS) under the Sustainable Finance Disclosure Regulation (SFDR).

The main areas of cross-sectoral focus continued to be joint risk assessment, enhancement of consumer protection, and development of the regulatory and supervisory frameworks for sustainable finance and securitisation.

In addition, monitoring and contributing to the digital finance developments, supporting FinTech scale-up through innovation hubs and sandboxes as well as cyber security completed the work programme.

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