Joint Committee of the ESAs to focus on digital resilience and sustainability disclosures in 2025

The Joint Committee of the European Supervisory Authorities (EBA, EIOPA and ESMA – the ESAs) published today its Work Programme for 2025, placing particular emphasis on ongoing collaboration to tackle cross-sectoral risks, promoting sustainability in the EU financial system and strengthening financial entities’ digital resilience.

More specifically, in addition to fostering regulatory consistency, adequate risk assessment, financial stability as well as the protection of consumers and investors, the ESAs will undertake joint work in 2025 to:

• provide further guidance on sustainability disclosures,
• make progress on financial entities’ digital operational resilience by, among others, launching the oversight of critical information and communication technology (ICT) third-party providers and implementing the major ICT-related incident coordination framework, in accordance with the Digital Operational Resilience Act (DORA),
• monitor financial conglomerates,
• promote coordination and cooperation among national innovation facilitators with a view to facilitating the scaling up of innovative solutions in the financial sector, and
• address other cross-sectoral matters such as retail financial services, investment products and securitization.

Notes

The Joint Committee is a forum with the objective of strengthening cooperation between the three ESAs, where they coordinate their supervisory activities in the scope of their respective responsibilities regularly and closely and ensure consistency in their practices.

In particular, the Joint Committee works in the areas of micro-prudential analyses of cross-sectoral developments, risks and vulnerabilities for financial stability, retail financial services and consumer and investor protection issues and retail investment products, cybersecurity, financial conglomerates, accounting and auditing. More information about the Joint Committee is available here.