The Joint Committee of the ESAs (EBA, EIOPA and ESMA) has published its 2020 Work Programme.

In 2020, under the EBA’s chairmanship EBA, the Joint Committee of the three ESAs will continue its work in the areas of cross-sectoral risk analysis, consumer protection, financial conglomerates, securitisation as well as accounting and auditing.

Areas of particular focus of its work will be on PRIIPs, financial innovation – also in relation to the European Commission’s FinTech Action plan and the work of the European Forum for Innovation Facilitators (EFIF) – as well as sustainable finance and securitisation.

In the area of Tokenisation and distributed ledger technologies: Experience from innovation facilitator activities, the ESAs plan to assess:

  • trends in tokenisation and the use of DLT-based applications (which may or may not entail crypto-assets);
  • major regulatory and supervisory themes, including any areas in which:
  • common views on the appropriate regulatory and supervisory response are reached;
  • recurrent regulatory obstacles or gaps impeding the scaling up of financial innovation are observed that may warrant attention by the ESAs and/or European Commission; and
  • policy action may be needed to address any risks to consumers, market integrity or for financial stability.
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