Letter to the European Commission on Prioritisation of 2023 ESMA deliverables

Verena Ross, Chair of ESMA published a letter to John Berrigan, Financial Stability and Capital Markets Union of the EC, informing of the deprioritization of several deliverables outlined in ESMA’s 2023 Annual Work Programme (eventid=17755).
ESMA conducted a prioritization exercise to ensure that resources are appropriately allocated, and the reprioritization of ESMA’s deliverables for this year was done after careful evaluation and with the support of the ESMA Management Board, taking into consideration the many competing priorities faced by the organization.
The deprioritization was carried out in light of various factors, including the high concentration of time-critical deliverables under DORA and MiCA Regulation, ongoing crisis management linked to the measures taken following the energy crisis and recent market volatility, and overall resource constraints.
The letter also lists the deprioritized deliverables, which consist of reports from ESMA to the Commission under various pieces of sectoral legislation, a request for technical advice on EuVECA/EuSEF, and an annual peer review relating to supervision of CCP. The specific reasons for the deprioritization of each of these deliverables are summarized in the annex to the letter.