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The European Supervisory Authorities and UK financial regulators sign Memorandum of Understanding on oversight of critical ICT third-party service providers under DORA
The European Supervisory Authorities and UK financial regulators sign Memorandum of Understanding on oversight of critical ICT third-party service providers under DORA
Digital Finance and InnovationInternational cooperationThe European Supervisory Authorities (EBA, EIOPA and ESMA – the ESAs) have today signed a Memorandum of Understanding (MoU) with the Bank of England (BoE), the Prudential Regulation Authority (PRA), and the Financial Conduct Authority (FCA). This agreement enhances the cooperation between the authorities to oversee critical ICT third-party service providers (CTPPs) as required by the Digital Operational Resilience Act (DORA).
The MoU establishes clear principles and procedures for cooperation, information sharing and coordination of oversight activities between the relevant authorities responsible for EU CTPPs/UK CTPs oversight. The MoU aims at enhancing third-party risk management and contributing to the overall operational resilience of the financial sector in the EU and UK through strong cross-border cooperation.
Legal basis and background
The MoU has been prepared in accordance with DORA Articles 36, 44, and 49, which cover the ESAs’ oversight powers, international cooperation, and financial cross-sector exercises, communication and cooperation.
To exchange information with a third-country authority, the ESAs must ensure that the confidentiality and professional secrecy regime in the third country is equivalent to that in the EU. Therefore, before signing this MoU, the ESAs conducted an assessment that confirmed the UK confidentiality and professional secrecy regime’s equivalence with that in DORA.
14/01/2026 MoU DORA oversight ICT CTPPsMemorandum of Understanding between the ESAs and the UK Financial Authorities on the oversight activities of critical ICT third-party service providers ESMA promotes clarity in communications on ESG strategies
ESMA promotes clarity in communications on ESG strategies
Sustainable financeThe European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, published today a second thematic note on sustainability-related claims, focusing on ESG strategies.
The note concentrates on ESG integration and ESG exclusions, as references to these strategies are often made by market participants and widely referenced in marketing communications directed to retail investors.
ESG integration and ESG exclusions can mean different things to different market participants. Lack of transparency when using these terms poses a notable greenwashing risk to investors. The aim of the note is not to define these strategies, but to call on market participants to be clear about what they mean when referencing them.
Similarly to the first thematic note on ESG credentials, this publication offers practical do’s and don’ts for making sustainability claims. These are illustrated through concrete examples of good and poor practices that are based on observed market practices.
Further information:
Cristina Bonillo
Senior Communications Officer
press@esma.europa.eu14/01/2026 ESMA36-429234738-165Thematic notes on clear, fair and not misleading sustainability-related claims: ESG strategies ESMA’s Digital and Data strategies support supervision of EU financial markets
ESMA’s Digital and Data strategies support supervision of EU financial markets
About ESMAMarket dataPress ReleasesThe European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, has adopted a new Digital Strategy and updated its Data Strategy. They reflect ESMA’s commitment to smarter regulatory reporting and technology-driven supervision, promote synergies and innovation while reducing unnecessary complexity.
The digital strategy aims to continue ESMA’s digital transformation, while the Data Strategy update is oriented to capitalise on opportunities to simplify, better integrate and streamline data management and technology.
ESMA Chair, Verena Ross, said:
“ESMA is committed to smarter regulation and supervision, and this drives our dual focus on digitalisation and simplification. These two strategies support a digitally mature, resilient and agile authority that understands the importance of data for its community.
By helping to drive the digital transformation of the European System of Financial Supervision (ESFS) we reinforce a more efficient, transparent, and resilient financial ecosystem for the EU.”
The new Digital Strategy 2026–2028 sets out a roadmap for innovation, efficiency, and resilience. The key objectives include:
- Building EU digital synergies
- Enhancing digital capabilities of ESMA and the European System of Financial Supervision (ESFS)
- Bolstering operational efficiency
- Establishing a secure and future-ready ecosystem.
The Data Strategy 2023–2028 has been updated to reflect the focus on burden reduction, the evolving technological landscape, and ESMA’s desire for unlocking efficiency opportunities. While its key objectives remain the same, the key new actions include:
- Flagship initiatives related to streamlining supervisory reporting, relating to transaction data and in the funds domain
- Expanding the capacity of the ESMA Data Platform to benefit national and European authorities
- Implementing next phases of the MiCA joint supervisory tool for crypto-market monitoring
- Finalising the development of the European Single Access Point (ESAP).
These goals are in line with ESMA’s wider simplification and burden reduction initiative launched last year.
With the alignment of both the digital and data strategies, ESMA ensures that innovation and technology translate into tangible benefits for stakeholders, with more possibilities for synergies and digital transformation across ESMA and the ESFS at large.
Next steps
ESMA’s Data and Digital work will be guided by the roadmaps under both strategies. By 2029, ESMA expects to converge the two into one unified strategy.
Further information:
Cristina Bonillo
Senior Communications Officer
press@esma.europa.eu13/01/2026 ESMA65-955014868-12887ESMA Digital Strategy 2026-2028 13/01/2026 ESMA50-157-3404ESMA Data Strategy 2023-2028 13/01/2026 ESMA71-545613100-2856ESMA’s Digital and Data strategies support supervision of EU financial markets - Press release Principles for risk-based supervision: a critical pillar for ESMA’s simplification and burden reduction efforts
Principles for risk-based supervision: a critical pillar for ESMA’s simplification and burden reduction efforts
SupervisionThe European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, published today its principles for risk-based supervision. These principles support a common and effective EU-wide supervisory culture and strengthen the EU single market.
The principles on risk-based supervision outline key concepts and foundational elements for use by ESMA and National Competent Authorities (NCAs), and provide a structured framework for identifying, assessing, prioritising and addressing risks. They are designed to support a supervisory framework that is consistent, proportionate, and effective across the Union.
A risk-based approach is the cornerstone of EU securities markets supervision, allowing regulators to focus on and address risks that pose the greatest threats to investor protection, financial stability, and orderly markets. Risk-based supervision is also one of ESMA’s flagship projects supporting the simplification and burden reduction agenda, through its contribution to boosting supervisory efficiency and value.
Next steps
ESMA and NCAs will work together to advance the implementation of effective risk-based supervision and foster high quality supervisory outcomes for market participants.
Further information:
Cristina Bonillo
Senior Communications Officer
press@esma.europa.eu09/01/2026 ESMA42-1710566791-6326Principles on risk-based supervision ESAs publish joint Guidelines on ESG stress testing
ESAs publish joint Guidelines on ESG stress testing
Guidelines and Technical standardsJoint CommitteeThe European Supervisory Authorities (EBA, EIOPA and ESMA - the ESAs) published today their Joint Guidelines on environmental, social, and governance (ESG) stress testing. These Guidelines provide national insurance and banking supervisors with clear guidance on how to integrate ESG risks into supervisory stress tests, both when using established frameworks and when conducting complementary assessments of ESG risk impacts.
The Guidelines set common standards for embedding ESG risks into stress testing methodologies across the EU’s financial system. They provide guidance on designing ESG-inclusive stress tests and outline the necessary organisational and governance arrangements.
The Guidelines are designed to support a consistent, long-term approach to ESG stress testing while allowing flexibility to accommodate future methodological advances and improvements in data availability. Importantly, they do not introduce new requirements for competent authorities to carry out ESG-focused supervisory stress tests.
Next steps
The Guidelines will be subject to a ‘comply or explain’ procedure by the National Competent Authorities and will be translated into all the official languages of the EU in the first quarter of 2026.
Background
The Final Report on the Joint ESAs Guidelines on ESG stress testing follows a public consultation and sets out the final text of the Guidelines, together with an assessment of the comments received during the consultation process. These Guidelines are designed to ensure consistency, long-term perspective, and common standards for ESG risk assessment methodologies in line with Article 100(4) of the Capital Requirements Directive (CRD - Directive 2013/36/EU) and Article 304c (3) of Solvency II (Directive 2009/138/EC), which require the publication of the joint Guidelines by 10 January 2026.
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