Malta Adapts to ESMA Guidelines, Enhancing Financial Supervision Convergence

The European Securities and Markets Authority (ESMA) has issued a series of Technical Standards, Guidelines, and Recommendations aimed at promoting supervisory convergence across the EU financial sector. In Malta, regulators are closely following these guidelines to ensure compliance with the ESMA Regulation 1095/2010.

Promoting Supervisory Convergence

As part of its mandate, ESMA is empowered to issue guidelines and recommendations to competent authorities and market participants, as stated in Article 16 of the ESMA Regulation. The authority engages in open public consultations when developing these guidelines, ensuring that all stakeholders have an opportunity to provide input.

Guidelines Development Process

The process involves:

• Open public consultations
• Stakeholder feedback and input
• Publication of guidelines and recommendations
• Request for information from competent authorities or market participants regarding compliance
• Publishing reasons for non-compliance

Annual Work Programme and Document Library

The ESMA’s annual work programme provides a comprehensive overview of its current projects and initiatives, including the development of new Technical Standards, Guidelines, and Recommendations. The authority’s library contains all published documents, providing easy access to this vital information.

Key Benefits

By adopting ESMA’s guidelines, Malta aims to:

• Enhance financial stability
• Ensure a level playing field for market participants across the EU
• Maintain its reputation as a reliable and transparent financial hub in the region

Malta is committed to adhering to these guidelines, which are designed to enhance financial supervision convergence and ensure a stable and fair financial environment.