ESMA has recently issued its Annual Work Program for 2021 taking an active role in building a common supervisory culture among NCAs to promote sound, efficient, and consistent supervision throughout the European Union.
DATA REPORTING
Key objective: To improve the quality of reported data
Mains outputs for 2021:
- Guidelines on EMIR Refit and revised validation rules
- Guidelines on SFTR requirements
- Review, enhancements, and implementation of DQAPs (Data Quality Action Plan)
- Q&As and opinions on EMIR Refit/MiFIR/SFTR/AIFMD data requirements.
- Draft RTS and ITS on reporting under MiFID II/MiFIR review
- Technical advice on the investment management legislation (i.e. AIFMD) related to reporting requirements.
POST TRADING
Key objective: Monitoring and contributing to the consistent implementation and application of EMIR
Main outputs for 2021:
- Guidance on EMIR implementation regarding the clearing obligation and the bilateral margining requirements
- Guidance on EMIR implementation of the changes introduced under Refit
- Annual Report on supervisory measures and penalties under EMIR
- Reviewed and amended technical standards following the EMIR Review