The Joint Committee of the European Supervisory Authorities (ESAs) has published its annual work programme for 2027, addressing cross-sectoral risks and strengthening coordination across the European Union's financial sector.

The ESAs include the European Banking Authority (EBA), the European Insurance and Occupational Pensions Authority (EIOPA), and the European Securities and Markets Authority (ESMA).

The Joint Committee will focus on areas where cooperation among the three ESAs is essential to support financial stability, consumer protection and effective supervision.

The key priorities for the ESAs in 2027 include digital operational resilience, technological innovation, sustainable finance, securitisation and cross-sectoral risk monitoring.

The programme reflects the committee's role in ensuring a coordinated supervisory response to cross-sectoral challenges and supporting a resilient, innovative and well-functioning financial system across the European Union (EU).

Additionally, it also aims to support the European Commission's objectives to build an efficient Savings and Investment Union (SIU) and advance a simplification agenda targeted at fostering more effective regulation and supervision while reducing unnecessary regulatory burdens.

In 2027, the Digital Operational Resilience Act (DORA) will be a key focus of the Joint Committee and will see the ESAs continue oversight activities relating to critical information and communications technology third-party service providers and work towards strengthening the financial sector’s preparedness against cyber threats.

In addition, the committee will assess the implications of technological developments, including the growing use of artificial intelligence and other digital innovations.

Another key focus in 2027 will be consumer protection, with the ESAs continuing their joint work on issues affecting retail consumers, helping them make informed financial decisions and promoting confidence in EU financial markets.

Meanwhile, in sustainable finance, the Joint Committee will continue to support the consistent application of the EU's sustainability framework across sectors.
 
For the Sustainable Finance Disclosure Regulation (SFDR), the ESAs will monitor the ongoing review of the level one text while providing clarifications where necessary on the existing framework.

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