ESMA announces 2027 priorities for MiCA and EU market supervision

The European Securities and Markets Authority (ESMA) has released its 2027 Work Programme, signaling a strategic shift from the preparation phase to the active implementation of major financial initiatives. A primary focus will be the enforcement of the Markets in Crypto-Assets (MiCA) regulation. ESMA aims to ensure that national supervisors apply MiCA rules consistently across the EU, focusing on cybersecurity, outsourcing risks, and verifying the actual EU-based activities of crypto-asset service providers.

Beyond crypto-assets, ESMA’s 2027 priorities include advancing the Savings and Investments Union (SIU) and simplifying regulatory and reporting frameworks. The regulator will expand its oversight to include ESG rating providers, consolidated tape providers, and external reviewers of European Green Bonds. Additionally, ESMA will continue monitoring compliance with the Digital Operational Resilience Act (DORA) and oversee critical ICT third-party service providers to safeguard financial stability and market resilience.