The three European Supervisory Authorities (the European Banking Authority, the European Insurance and Occupational Pensions Authority and the European Securities and Markets Authority—ESAs) have unanimously decided to dismiss the appeal brought by Dubai Commodities Clearing Corporation (DCCC) against ESMA and to therefore confirm ESMA’s decision to withdraw its recognition.

The three European Supervisory Authorities (the European Banking Authority, the European Insurance and Occupational Pensions Authority and the European Securities and Markets Authority—ESAs) are consulting on draft implementing technical standards (ITSs) regarding the tasks of the collection bodies and the functionalities of the European Single Access Point (ESAP). The ITSs and the requirements they set out are designed to enable future users to effectively harness the comprehensive financial and sustainability information centralised on the ESAP. Responses are sought by 8 March 2024.

The three European Supervisory Authorities (the European Banking Authority, the European Insurance and Occupational Pensions Authority and the European Securities and Markets Authority—ESAs) are consulting on guidelines under the Markets in Crypto-assets Regulation (MiCAR) establishing templates for explanations and legal opinions regarding the classification of cryptoassets, along with a standardised test to foster a common approach to classification. Responses are sought by 12 October 2024.

The three European Supervisory Authorities (the European Banking Authority, the European Insurance and Occupational Pensions Authority and the European Securities and Markets Authority—ESAs) have published a joint report following their February 2024 workshop on the use of behavioural insights by supervisory authorities in their day-to-day oversight and policy work. The report provides a high-level overview of the main topics discussed during the workshop for national supervisors and other competent authorities, where participants explored the added value of behavioural insights in their work by exchanging their experiences and discussing the challenges they face.

The European Supervisory Authorities (ESAs) (which include, the European Banking Authority (EBA), the European Insurance and Occupational Pensions Authority (EIOPA) and the European Securities and Markets Authority (ESMA)) has issued a joint warning to consumers about the risks and limited protections associated with certain crypto-assets and service providers. The warning highlights that not all crypto-assets are regulated under the EU’s Markets in Crypto-Assets regulation (Regulation (EU) 2023/1114) (MiCA). The warning is accompanied by a factsheet explaining what MiCA means for consumers. The ESAs recommend concrete steps consumers can take to make informed decisions before investing in crypto-assets, such as checking if the provider is authorised in the EU. Consumers are urged to verify whether providers are authorised under MiCA, understand the nature of the crypto-assets they are investing in, and ensure their digital wallets are secure. The ESAs also caution against the influence of social media promotions by so-called ‘finfluencers’.

The three European Supervisory Authorities (the European Banking Authority, the European Insurance and Occupational Pensions Authority and the European Securities and Markets Authority—ESAs) have published joint final Guidelines aimed at promoting consistency in the regulatory classification of crypto-assets pursuant to Article 97(1) of the Markets in Crypto-assets Regulation (MiCAR). The Guidelines will take effect three months after their publication in all the official EU languages on the ESAs’ websites. This development follows the entry into application of MiCAR regimes for asset-referenced tokens and electronic money tokens in June 2024, with remaining provisions on other cryptoassets and service provision set to apply from 30 December 2024.

The European Supervisory Authorities (ESAs) have released their resolution containing the reporting obligations for competent authorities concerning the identification of critical ICT third-party service providers under the Digital Operational Resilience Act (DORA). The ruling requires qualified agencies to tender registers encompassing information on contractual arrangements between financial institutions and ICT third-party service providers by 30 April 2025.

The European Supervisory Authorities (EBA, EIOPA, and ESMA—ESAs) in conjunction with the European Central Bank (ECB) have published the findings of their ‘Fit-For-55’ climate scenario analysis. The analysis concludes that transition risks alone are unlikely to pose a significant threat to EU financial stability, however, when combined with macroeconomic shocks, the risks could amplify losses and potentially disrupt the financial system. The ESAs emphasise the need for a coordinated policy approach to finance the green transition and the importance of financial institutions comprehensively integrating climate risks into their risk management strategies as promptly and extensively as possible.

The three European Supervisory Authorities (the European Banking Authority, the European Insurance and Occupational Pensions Authority and the European Securities and Markets Authority—ESAs) have issued joint guidelines on the oversight co-operation and information exchange between the ESAs and competent authorities to ensure efficient and consistent oversight of critical ICT third-party service providers for financial entities, as mandated by Regulation (EU) 2022/2554 Digital Operational Resilience Act (DORA). The guidelines apply from 17 January 2025, and will be subject to review by the ESAs.

The three European Supervisory Authorities (the European Banking Authority, the European Insurance and Occupational Pensions Authority and the European Securities and Markets Authority—ESAs) have published a joint consultation paper on 27 June 2025 containing draft guidelines for integrating environmental, social and governance (ESG) risks into supervisory stress tests for banks and insurers. Developed pursuant to Article 100(4) of the Capital Requirements Directive (Directive 2013/36/EU) and Article 304c(3) of the Solvency II Directive (Directive 2009/138/EC), the guidelines aim to ensure consistency, long-term considerations and common standards in ESG stress testing methodologies across the EU financial sector. They outline expectations for competent authorities regarding the design, governance and operational features of such stress tests, including the need for relevant expertise, access to high-quality ESG data and appropriate timelines for scenario analysis. Responses are sought by 19 September 2025, with a public hearing scheduled online for 26 August 2025.

The three European Supervisory Authorities (the European Banking Authority, the European Insurance and Occupational Pensions Authority and the European Securities and Markets Authority—ESAs)are advancing the implementation of a pan-European oversight framework for critical information and communication technology (ICT) third-party service providers (CTPPs) under Regulation (EU) 2022/2554 (the Digital Operational Resilience Act (DORA)). An online workshop will be held in the second quarter of 2025 to clarify the designation process and oversight approach. The DORA framework, effective from 17 January 2025, aims to enhance the digital operational resilience of the EU financial sector.

The Joint Committee of the three European Supervisory Authorities (the European Banking Authority, the European Insurance and Occupational Pensions Authority, and the European Securities and Markets Authority—ESAs) has published its joint annual report for 2024, detailing the collaborative efforts and achievements of the past year. In 2024, the ESAs concentrated their efforts on several cross-sectoral areas, including joint risk assessments, sustainable finance, operational risk and digital resilience, consumer protection, financial innovation, securitisation, financial conglomerates, and the European Single Access Point (ESAP). Key achievements included the implementation of the Digital Operational Resilience Act (DORA) and ongoing work related to the Sustainable Finance Disclosure Regulation (SFDR).