The European Banking Authority (EBA) today published the latest chapter of its resolution Handbook on simulation exercises for resolution authorities. The Handbook provides, for the first time, a comprehensive framework of best practices, methodologies and processes to support resolution authorities in enhancing their preparedness and operational capabilities through structured simulation exercises.
ESAs publish a guide on DORA Oversight activities 15 July 2025 Digital Finance and Innovation Joint Committee The European Supervisory Authorities (EBA, EIOPA, ESMA – the ESAs) today published a guide on oversight activities under the Digital Operational Resilience Act (DORA). The aim of this guide is to provide an overview of the processes used by the ESAs through the Joint Examination Teams (JET) to oversee critical Information and communication technology (ICT) third party service providers (CTPPs). This guide provides high-level explanations to external stakeholders regarding the CTPP Oversight framework. Furthermore, it provides an overview of the governance structure, the oversight processes, the founding principles and the tools available to the overseers. However, the guide is not a legally binding document and does not replace the legal requirements laid down in the relevant applicable EU law. The ESAs invite the public, financial entities and, crucially, third-party providers to use this document to prepare for the oversight implementation. Additional information on the oversight implementation: For more information on the implementation of the DORA Oversight framework, please refer to this presentation. 15/07/2025 JC 2025 29 DORA Guide on oversight activities
The European Supervisory Authorities (EBA, EIOPA, ESMA – the ESAs) today published a guide on oversight activities under the Digital Operational Resilience Act (DORA). The aim of this guide is to provide an overview of the processes used by the ESAs through the Joint Examination Teams (JET) to oversee critical Information and communication technology (ICT) third party service providers (CTPPs).
ESMA identifies future and potential data contributors for the equity CTP 10 July 2025 Trading The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, has published today the list of data contributors to the equity Consolidated Tape Provider (CTP), based on the transaction reporting data collected. The list also includes trading venues that can choose to transmit data to the equity CTP and opt-in to the mandatory data contribution regime. As specified in the Market in Financial Instruments Regulation (MiFIR) the trading venues opting-in will need to contribute data to the CTP within 30 days from the notification to ESMA. ESMA will immediately update the list once a trading venue starts or ends operations and when a trading venue decides to voluntary opt-in. Next steps The entities that decide to opt-in will communicate their decision to ESMA, at the following email address: secondary-markets@esma.europa.eu. Additionally, they will notify to their National Competent Authority (NCA). The next publication of the list will be in January 2026. Background According to MiFIR, ESMA must publish on its website and keep up to date a list identifying: investment firms operating small and medium enterprises (SME) growth markets and market operators that are mandated to contribute data to the CTP, investment firms that are not obliged to contribute but can opt-in to the mandatory regime, and investment firms that decided to opt-in. Not all trading venues will be required to contribute data to the equity CTP, once it will be established. Specifically, smaller trading venues that either do not belong to a large group or have a high concentration of instruments first listed on their platforms are not obligated to submit data to the CTP, unless they choose to participate in the regime. Further information: Cristina Bonillo Olivares Senior Communications Officerpress@esma.europa.eu 10/07/2025 ESMA74-276584410-11027 List of data contributors to the equity CTP
ESMA identifies opportunities to strengthen MiCA authorisations 10 July 2025 Digital Finance and Innovation Supervisory convergence The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, published today the results of a peer review looking at the authorisation of Crypto Asset Service Providers (CASPs) in Malta under the Market in Crypto Assets Regulation (MICA). The peer review analyses the approaches adopted by the Malta Financial Services Authority (MFSA) in the authorisation and early supervision of a CASP and provides recommendations to strengthen these processes. It identifies overall a good level of resources and supervisory engagement within the authority, with some areas for improvement related to the assessment of authorisations. Key findings: Some material issues where not fully resolved when MFSA granted the CASP authorisation; Some risks areas were not adequately assessed during the authorisation process; The MFSA has demonstrated a good level of expertise and supervisory cooperation. The peer review also recommends to all NCAs currently in the process of authorising CASPs to pay particular attention to certain areas of risk, including business growth, conflicts of interests, governance and intragroup arrangements, ICT architecture, Web3, decentralised products, and the promotion of unregulated services. While focused on an individual case, the review aims to foster the sound authorisation of CASPs by all NCAs in the EU. Its conclusions should be on-boarded by all NCAs to ensure that the authorisations they grant are well assessed in this new and high-risk sector, where supervisory knowledge is still being built. This exercise is also an opportunity to reinforce EU supervisors’ role as gatekeepers of the EU single market in the crypto space. Next steps The objective of peer reviews is to enhance convergence and harmonisation in the process across the EU, and the NCAs are expected to integrate the recommendations in their internal processes, as well as in their on-going and future authorisations. ESMA will continue promoting further discussion on the recommendations and cross border cooperation. Further information: Cristina Bonillo Olivares Senior Communications Officerpress@esma.europa.eu 10/07/2025 ESMA42-2004696504-8164 Fast-track peer review on a CASP authorisation and supervision in Malta
ESMA publishes its first Climate Transition Plan 08 July 2025 About ESMA The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, published today its first Climate Transition Plan, an important milestone in aligning ESMA’s own operations with the European Union climate objectives. Under this plan, and in line with the Paris Agreement, ESMA commits to reducing its gross greenhouse gas (GHG) emissions by 15.4% in 2027 and 31.4% in 2030, compared to 2023. Through the implementation of the Climate Transition Plan, ESMA aims to reduce the carbon footprint of its operations, particularly in relation to staff business travel, energy use, and food consumption. In the short term, progress towards this goal will be achieved through: introduction of an annual GHG budget to manage emissions from air travel, optimising floor occupancy during certain periods of the year to reduce energy consumption, and implementing incentives to lower-carbon practices in the purchase of goods and services. This first plan has been put in place with the data currently available. It will be regularly reviewed, adapted, and improved. Next Steps: ESMA will implement decarbonisation levers and measures identified under this Climate Transition Plan and will report on the progress achieved annually, via its Annual Report and its Environmental Statement. Further information: Cristina Bonillo Olivares Senior Communications Officerpress@esma.europa.eu 08/07/2025 ESMA36-1079078717-2989 Transition Plan to mitigate climate change impacts of ESMA's own operations
Investors should consider risks of unregulated products offered by regulated crypto assets entities 11 July 2025 Digital Finance and Innovation Investor protection The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, issued today a public statement warning investors of the ‘halo effect’ that can lead to overlooking risk when authorised crypto-asset service providers (CASP’s) offer both regulated and unregulated products and/or services. The statement also reminds CASPs of the issues that they should consider when providing unregulated products and services, recommending that they should be particularly vigilant about avoiding any client confusion regarding the protections attached to unregulated products and/or services. To avoid any misunderstanding CASPs should clearly communicate the regulatory status of each product or service in all client interactions and at every stage of the sales process. In addition, ESMA reminds crypto-assets entities of their obligation to act fairly, professionally and in the best interests of their clients, ensuring that all information, including marketing communications, is fair, clear and not misleading. Further information: Cristina Bonillo Olivares Senior Communications Officerpress@esma.europa.eu 11/07/2025 ESMA35-1872330276-2329 Statement on Avoiding Misperceptions: Guidance for Crypto-Asset Service Providers Offering Unregulated Services
Knowledge and competence of staff providing information on crypto-assets – ESMA criteria published 11 July 2025 Digital Finance and Innovation Guidelines and Technical standards The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, has published today the guidelines specifying the criteria for assessing the knowledge and competence of staff at crypto-asset service providers (CASPs) who provide information or advice on crypto-assets and services under the Markets in Crypto-Assets Regulation (MiCA). Concretely, the document: provides guidance on the minimum level of knowledge and competence of staff through examples (including on professional qualification and appropriate experience for the provision of information or advice); and addresses specific features and risks of crypto-assets markets and services (e.g. high volatility of crypto-assets and cyber security risks) through the criteria for the assessment of the relevant staff’s knowledge and competence. The guidelines will help CASPs to meet their obligations and act in the best interest of their clients. They also support competent authorities in adequately assessing how CASPs meet these obligations. The objective is to enhance investor protection and trust in the crypto-asset markets. ESMA conducted a public consultation on these guidelines to gather the views of stakeholders, including the Securities and Markets Stakeholder Group (SMSG). The final report includes feedback to the comments received during the consultation. Next steps The guidelines will be translated into all EU languages and published on ESMA’s website. They will start applying six months after that publication. Within two months of the date of publication of the guidelines on ESMA’s website in all EU official languages, competent authorities to which these guidelines apply must notify ESMA whether they comply, do not comply, but intend to comply, or do not comply and do not intend to comply with the guidelines. Further information: Cristina Bonillo Olivares Senior Communications Officerpress@esma.europa.eu 11/07/2025 ESMA35-1872330276-2380 Final Report on the Guidelines for the criteria on the assessment of knowledge and competence under the MiCA