TAILIEUCHUNG - 2013 work programme European Securities and Markets Authority

The development of MiFID will strengthen ESMA’s role in product intervention. The proposals seek to strengthen investor protection through an even stronger framework for the provision of investment services to retail clients and possibly a more proactive approach from NCAs. MiFID will also require ESMA and NCAs to revise the current Transaction Reporting Exchange Mechanism (TREM) and the Reference Data System (RDS), to include extensions to financial instruments traded on MTFs, OTFs and to the scope of transaction reporting obligations and suspensions and removals from trading The review of the market abuse regime will also form part of ESMA’s regulatory single rulebook. | QCrTi3 European Securities and CoIlla Markets Authority 2013 work programme European Securities and Markets Authority OCfTi2 European Securities and col I la Markets Authority Ref 2012 631 Table of Contents I. Introduction 3 II. The mission of ESMA 3 III. ESMA s key objectives and priorities in 2013 4 a. Single Rulebook 6 i. European Financial Markets Legislation MiFID MAD 6 ii. European Investment Fund Legislation 7 iii. Corporate Finance 8 iv. CRA policy 9 v. Other new Regulation 9 b. Supervision 9 i. Credit Rating Agencies Regulation CRA 9 ii. European Market Infrastructure Regulation EMIR 10 c. Financial consumer protection and financial innovation 11 d. Contribution to financial stability 12 e. Convergence 13 i. Peer Reviews Breach of Union Law and Mediation 13 ii. Corporate Reporting 15 iii. Joint Committee 15 iv. Other convergence activities 16 f. ESMA as an organisation 17 IV. Key Work Streams19 V. Annexes 20 Annex 1 - Human resources 20 Annex 2 - Draft budget 21 Annex 3 - Detailed work programme 25 I. Introduction This document sets out the European Securities and Markets Authority s ESMA work programme for 2013 highlighting the key priorities and explaining how they will be delivered. This document was approved by the Board of Supervisors on 24 September 2012. Annex 3 presents a more detailed view on the key work streams ESMA will run in 2013 as well as on-going activities of ESMA. II. The mission of ESMA ESMA s mission is to enhance the protection of investors and promote stable and wellfunctioning financial markets in the European Union EU . As an independent institution ESMA achieves this aim by building a single rule book for EU financial markets and ensuring its consistent application across the EU. ESMA contributes to the regulation of financial services firms with a pan-European reach either through direct supervision or through the active coordination of national supervisory .

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