Latest news from EU institutions and bodies

ESMA appoints new members of its Securities and Markets Stakeholder Group 21 June 2024 About ESMA Securities and Markets Stakeholder Group The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, has appointed new members of its Securities and Markets Stakeholder Group (SMSG). On 1 July 2024 the new members will start their four-year term, during which they will provide ESMA with advice on its policy work and will be consulted on technical standards and guidelines.  Verena Ross, ESMA’s Chair, said:  “Congratulations to the newly selected SMSG members. I believe that with their strong expertise, diverse professional backgrounds and broad geographical representation, we have ensured ESMA will be receiving different stakeholder views and input from across the European Union. ESMA works to enhance investor protection, build more effective and attractive capital markets in the European Union and safeguard financial stability. This is why I look forward to hearing the SMSG members’ perspectives on market developments and to receiving valuable advice on numerous files under ESMA’s remit. I would like to thank the outgoing SMSG members for their dedication to the role and their contributions during the last four years. My special gratitude goes to the SMSG Chair, Veerle Colaert, for all her support and the excellent coordination of the group. During its tenure, the outgoing SMSG gave ESMA relevant and valuable stakeholder feedback and advice on the European capital market regulatory framework.”   List of the members of the Securities and Markets Stakeholder Group The successful candidates were selected from a field of 171 eligible applicants. The individuals listed below will make up the SMSG for four years commencing on 1 July 2024. New SMSG members will hold their first meeting on 5 July 2024. Name Nationality Position Academics Barbara Alemanni Italy Full professor of financial markets and institutions, University of Genoa; Affiliate professor – financial markets and institution and Research fellow CAREFIN, Bocconi University Gabriela Ariadna Dumitrescu Romania Associate Professor of Finance, ESADE Business School Morten Kinander Norway Professor of Law, BI Norwegian Business School; Director Center for Financial Regulation, BI Norwegian Business School Giovanni Petrella Italy Full Professor of Banking, Catholic University, Milan Consumer Representatives Monica Calu Romania Member in Advisory Council at the Central Level, National Authority for Consumer Protection, Bucharest Kęstutis Kupšys Lithuania Vice President, Vartotojų Aljansas - Lithuanian Consumers Alliance Aleksandra Maczynska Poland Acting Managing Director, BETTER FINANCE Guillaume Prache France Executive President, Fédération des Associations Indépendantes de Défense des Epargnants pour la Retraite (FAIDER) - Federation of Independent Associations for Retirement Savers Agustin Reyna Belgium Director General, Bureau européen des unions de consommateurs – the European consumer organisation (BEUC) Christian Martin Stiefmueller Austria Senior Adviser, Research & Advocacy, Finance Watch Users of Financial Services Christiane Hölz Germany Lawyer, Managing Director, Deutsche Schutzvereinigung für Wertpapierbesitz e.V. (DSW) Sari Lounasmeri Finland Chief Executive Officer of Pörssisäätiö - Finnish Foundation for Share Promotion Employee Representatives Chris Vervliet Belgium Deputy Secretary & Member of Select Committee European Works Council at KBC Group, KBC Asset Management, Brussels (Belgium); member UNIEuropa Small and Medium Enterprises Andrus Alber Estonia Member of the Supervisory Council, Swedbank Investment Funds; Member of the Board, Finance Estonia Henning Bergmann Germany Chief Executive Officer of Der Mittelstandsverbund – ZGV e.V. - SME Groups Germany Nikolaos Daskalakis Greece Advisor to GSEVEE, the Greek Confederation of SMEs Ville Kajala Finland Senior Advisor, Company and Securities Law, Corporate Governance, Finland Chamber of Commerce Financial Market Participants Rosa Armesto Spain Director General, Federation of European Securities Exchanges (FESE); Lecturer, Solvay Brussels School of Economics and Management Florence Bindelle Belgium Secretary General, EuropeanIssuers Urban Funered Sweden Chief Executive Officer, Swedish Securities Markets Association; Chairman and Board Member, Swedsec Licensiering; Chairman and Board Member, International Council of Securities Associations Stephane Giordano France Head of Regulatory Strategy Team for Investment Banking Activities, Société Générale; Chairman, L'Association française des marchés financiers (AMAFI) - French financial market association Emma Lokko Ireland Head of Market Structure EMEA, Susquehanna International Group Limited Ana Martínez-Pina Spain Partner, Lawyer of Financial Regulation, Gómez-Acebo & Pombo Jacqueline Mills Belgium Managing Director, Head of Advocacy, Association for Financial Markets in Europe (AFME) Nicolas Pfaff France Deputy Chief Executive and Head of Sustainable Finance, International Capital Market Association (ICMA) Thomas Richter Germany CEO, BVI German Investment and Asset Management Association Virginie Saade France Managing Director, Head of Government and Regulatory Policy, EMEA, CITADEL Lucas Schmeddes Netherlands President & COO ICE Endex, Intercontinental Exchange Miroslav Singer Czechia Chief Economist, Director for Institutional Relationships, Generali CEE Holding; Supervisory Board Deputy Chairman, Moneta Money Bank; Economics Lecturer, Prague University of Economics and Business Tanguy van de Werve  Belgium General Director, European Fund and Asset Management Association (EFAMA)   Further information: Aleksandra Bojanić Senior Communications Officer@ press@esma.europa.eu 21/06/2024 ESMA71-545613100-2498 ESMA appoints new members of its Securities and Markets Stakeholder Group - Press Release

Registration now open for 11th Joint ESAs Consumer Protection Day in Budapest 03 July 2024 Investor protection Joint Committee Sustainable finance The registration for the 11th Joint Consumer Protection Day organised by the three European Supervisory Authorities (EBA, EIOPA and ESMA – ESAs) on 3 October 2024 in Budapest, Hungary is now open. Interested stakeholders can register until 2 September 2024. The event aims to unite thought leaders from consumer organisations, regulatory authorities, EU institutions, academia, and key market participants from across the European Union to discuss significant issues in consumer protection within financial services.  Discussions will focus on following themes: Artificial intelligence in financial services, access to consumer centric products and services and sustainable finance (SFDR). The Joint Consumer Day is hosted by the Central Bank of Hungary (MNB – Magyar Nemzeti Bank) during Hungary's Presidency of the European Union, this year’s Consumer Protection Day will be held at the Lámfalussy Conference Centre in Budapest. Registration Interested stakeholders can register via this link no later than 2 September 2024.  Participants are encouraged to register early due to limited seating. The ESAs recommend in-person attendance to ensure optimal expert exchanges and networking opportunities.  For more information about the event, please visit the event’s page.

ESAs and ENISA sign a Memorandum of Understanding to strengthen cooperation and information exchange 05 June 2024 Digital Finance and Innovation International cooperation Joint Committee Press Releases The European Supervisory Authorities (EBA, EIOPA, and ESMA - the ESAs) today announced that they have concluded a multilateral Memorandum of Understanding (MoU) to strengthen cooperation and information exchange with the European Union Agency for Cybersecurity (ENISA). This multilateral MoU formalises the ongoing discussions between the ESAs and ENISA to strengthen their already close cooperation, as a result of the Directive on measures for a high common level of cybersecurity (NIS2 Directive) and the Digital Operational Resilience Act (DORA).  This MoU sets out the framework for cooperation and exchange of information on tasks of mutual interest, including policy implementation, incident reporting, and oversight of critical Information Communication Technologies (ICT) third-party providers. It will also promote regulatory convergence, facilitate cross-sectoral learning and capacity building on areas of mutual interest, and information exchange on emerging technologies. Verena Ross, Chair of the Joint Committee of the ESAs and ESMA Chair, said: This new cooperation agreement that we sign today will reinforce the collaboration between the ESAs and ENISA. By bringing together the ESAs working on cybersecurity risk in the financial sector and ENISA as the EU’s cybersecurity agency, we are further strengthening our commitment to safeguarding the financial system from information security risks.  In an interconnected world, ICT risk does not limit itself to one geographical or sectoral area, making cooperation in this field crucial. Through facilitating collaboration and resource sharing, we continue to enhance our capability to detect and respond to cybersecurity threats. Juhan Lepassaar, Executive Director of the European Union Agency for Cybersecurity (ENISA), highlighted:  The MoU signed today showcases our willingness to move forward with a common and comprehensive approach in cybersecurity both at sectorial and horizontal level. Our efforts towards the implementation and harmonisation of NIS2 and DORA provisions, such as those on incident reporting, are paving the way to intensify our endeavours in creating a robust mechanism for cybersecurity in financial ICT systems.  Notes to editors The Directive on measures for a high common level of cybersecurity across the Union (NIS2 Directive) is the EU-wide legislation on cybersecurity which provides legal measures to boost the overall level of cybersecurity in the EU. The Digital Operational Resilience Act (DORA) sets a harmonised and comprehensive regulatory framework on digital operational resilience for EU financial entities and introduces oversight over Critical Third-party ICT Providers (CTPPs). About ENISA The European Union Agency for Cybersecurity, ENISA, is the Union's agency dedicated to achieving a high common level of cybersecurity across Europe. Established in 2004 and strengthened by the EU Cybersecurity Act, ENISA contributes to EU cyber policy, enhances the trustworthiness of ICT products, services, and processes with cybersecurity certification schemes, cooperates with Member States and EU bodies, and helps Europe prepare for the cyber challenges of tomorrow. Through knowledge sharing, capacity building and awareness raising, the Agency works together with its key stakeholders to strengthen trust in the connected economy, to boost resilience of the Union’s infrastructure, and, ultimately, to keep Europe’s society and citizens digitally secure. About the ESAs The three European Supervisory Authorities (the EBA, EIOPA and ESMA) have the objective to protect the public interest by contributing to the short, medium, and long-term stability and effectiveness of the financial system, for the Union economy, its citizens, and businesses. The ESAs are tasked with developing and implementing a common regulatory framework and convergent supervisory practice across the EU. While most ongoing supervision of financial institutions still rests with the national supervisory authorities, the ESAs also carry out micro-prudential supervision of the EU financial markets along with the national supervisory authorities of the member states, as well as direct supervision of some market players. Through the Joint Committee, the three ESAs coordinate their supervisory activities in the scope of their respective responsibilities regularly and closely and ensure consistency in their practices. The three ESAs Joint Committee is chaired alternately each year by one of the authorities. In 2024 the forum is chaired by ESMA.    More information: Cristina Bonillo Senior Communications Officerpress@esma.europa.eu 05/06/2024 MoU ESAs-ENISA Memorandum of Understanding on cooperation between the ESA and ENISA

ESAs publish Joint Annual Report for 2023 07 June 2024 Joint Committee The Joint Committee of the European Supervisory Authorities (EBA, EIOPA and ESMA - ESAs) today published its 2023 Annual Report, providing an account of the joint work completed over the past year. In 2023, under the EBA's chairmanship, the Joint Committee continued to play a coordinating role to facilitate discussions and the exchange of information across the three ESAs, the European Commission, and the European Systemic Risk Board (ESRB). Through the Joint Committee the ESAs explore and monitor potential emerging risks for financial markets participants and the financial system as a whole. The main areas of cross-sectoral focus were joint risk assessment, sustainable finance, digitalisation, consumer protection, securitisation, financial conglomerates, and central clearing. Among the Joint Committee’s main deliverables were policy products for the implementation of the Digital Operational Resilience Act (DORA) as well as ongoing work related to the Sustainable Finance Disclosure Regulation (SFDR). Background The Joint Committee is a forum with the objective of strengthening cooperation between the European Banking Authority (EBA), the European Insurance and Occupational Pensions Authority (EIOPA) and the European Securities and Markets Authority (ESMA), collectively known as the three European Supervisory Authorities (ESAs).Through the Joint Committee, the three ESAs coordinate their supervisory activities in the scope of their respective responsibilities regularly and closely and ensure consistency in their practices.   Further information: Aleksandra Bojanić Senior Communications Officer@ press@esma.europa.eu 07/06/2024 JC 2024 16 Joint Committee Annual Report 2023

ESMA publishes latest edition of its newsletter 12 June 2024 ESMA newsletter The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, has today published its latest edition of the Spotlight on Markets Newsletter. Your one-stop-shop in the world of EU financial markets focuses in May on the Position Paper with recommendations for more effective and attractive capital markets in the EU and includes a factsheet with the main highlights.  ESMA also issued a Statement with initial guidance to firms using Artificial Intelligence (AI) technologies when they provide investment services to retail clients. Following its public statement of 14 December 2023, guidelines establishing harmonised criteria for the use of ESG and sustainability terms in fund names were shared. The financial markets regulator also published the Final Report on the rules on conflicts of interests of crypto-asset service providers (CASP) under the Markets in Crypto Assets Regulation (MiCA). A combined report on the 2023 Common Supervisory Action (CSA) and the accompanying Mystery Shopping Exercise (MSE) on marketing disclosure rules under MiFID II was released, as well as a reminder on rules for sharing information during pre-close calls. With the objective of increasing access to data of public interest, we published the Statistics on Securities and Markets (ESSM) Report. ESMA also sent out a reminder to CRAs of their obligation to provide full visibility of the events that have led to the discontinuation of a specific rating. Consultations on the MiFIR review were launched: a consultation on non-equity trade transparency, reasonable commercial basis (RCB) and reference data, a second one on Consolidated Tape Providers and their selection, and a third one on proposed changes to the rules for position management controls and position reporting. Finally, we published a Call for Evidence on the review of the Undertakings for Collective Investment in Transferable Securities (UCITS) Eligible Assets Directive (EAD). The newsletter features an announcement on the 11th Joint ESAs Consumer Protection Day, and a full overview of all publications, together with information on next month’s speaking appearances of ESMA staff and vacancies. For updates, follow us on X and LinkedIn. 12/06/2024 ESMA newsletter Newsletter May 2024

ESMA in 2023 - Focus on investor protection, risk monitoring and supervision 14 June 2024 About ESMA Board of Supervisors Management Board Press Releases The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, has published its Annual Report for 2023. It sets out the key achievements of the authority in the first year of implementing its new 5-year strategy, delivering on the mission of enhancing investor protection and promoting stable and orderly financial markets in the European Union (EU). Verena Ross, Chair of ESMA, said:  “Retail investors are at the core of our strategy through the key role they play in financial markets. In 2023 we saw for the first time that the average cost of investing in certain funds had declined year on year, but there are still significant differences across the Union. We continued our mission to protect investors, including through a mystery shopping exercise on costs and charges under MiFID and targeted warnings about the risks of crypto assets.  As geopolitical tensions and macro-economic developments continued to impact European financial markets in 2023, vigilance and proactive measures by supervisory authorities remained fundamental. ESMA was again at the forefront of coordinating the actions and sharing information between national supervisors in the EU, ensuring common approaches to any crisis responses. I would like to thank my colleagues in the ESMA Board of Supervisors and Management Board for their continued support.” Natasha Cazenave, Executive Director of ESMA, said: “Consistent with our strategic priority to strengthen supervision of EU financial markets we continued to reinforce and streamline the framework we use to identify supervisory risks, not just within ESMA but also with national supervisors.  As ESMA grows and evolves in a complex environment with rapid technological innovation and challenging economic conditions, we focus on retaining a strong culture internally and stay rooted in a clear set of values. This allows us to have the necessary agility needed to continue delivering on our strategic priorities. I would like to warmly thank all the staff for their commitment and enthusiasm in delivering on ESMA’s mission.” ESMA's key achievements in 2023  Throughout the year, ESMA actively monitored risks and resilience of financial markets, contributed to completing the single rulebook and supported supervisory convergence notably through extensive work in the digital finance space.  ESMA’s key accomplishments during 2023 include: Exploring new areas of regulation and working closely with EBA and EIOPA in preparation for the implementation of Digital Operational Resilience Act (DORA). Preparing for Markets in Crypto-Assets Regulation (MiCA) implementation and together with the NCAs fostering convergent authorisation and supervision approaches, providing guidance to market participants, conducting consultations on detailed rules, and collaborating with international bodies on crypto-asset regulation. Enhancing supervisory convergence through peer reviews on the supervision of central counterparties (CCPs) and central securities depositories (CSDs), identifying areas for improvement and issuing recommendations to ensure consistent supervision across the EU. Monitoring retail investment markets and reporting on the costs and performance of retail investment products, highlighting cost reductions and variations across products and Member States, and recommending that investors carefully evaluate costs and diversify investments. Enhancing sustainability disclosures through active participation in the development and application of European Sustainability Reporting Standards (ESRS) and in the IOSCO endorsement of the IFRS Sustainability Disclosure Standards.  Launching a new data strategy for 2023-2028, aiming to leverage technology and data to improve market supervision and investor protection. The strategy outlines six key objectives to enhance data utilization, reduce reporting burden and promote data-driven supervision. Assessing greenwashing through a progress report on greenwashing risks and supervision, setting out a definition of greenwashing agreed with EBA and EIOPA, identifying material risks across the sustainable investment value chain and outlining preliminary remediation actions.  These achievements reflect ESMA's commitment to navigating the evolving financial landscape, ensuring effective regulation and supervision, and protecting investors in the EU.   Further information: Solveig Kleiveland Communications Team Leaderpress@esma.europa.eu 14/06/2024 ESMA22-50751485-1453 2023 Annual Report 14/06/2024 ESMA71-545613100-2542 ESMA in 2023 - Focus on investor protection, risk monitoring and supervision - Press Release

The registration for the 11th Joint Consumer Protection Day organised by the three European Supervisory Authorities (EBA, EIOPA and ESMA – ESAs) on 3 October 2024 in Budapest, Hungary is now open. Interested stakeholders can register until 2 September 2024.

European Commission Speech Lisbon, 03 Jul 2024 This is great day. A big day. A big day for Europe. And a big day for all of you. In January 2022 I proposed a new and stronger mandate for you.   And today, tw...

Marking a historic moment, one year ago today, Eurojust launched the International Centre for the Prosecution of the Crime of Aggression (ICPA) - a unique judicial coordination platform dedicated to supporting national investigations into the crime of aggression related to the war in Ukraine.Since its launch in July 2023, the ICPA has made significant progress in building a common investigative and prosecutorial strategy for cases on the crime of aggression. ICPA participants have selected relevant evidence to focus on, and have coordinated and strengthened ongoing investigative efforts at national level.