The European Securities and Markets Authority published its annual Work Programme for 2027 on September 28, 2026, setting out plans that include deploying AI-based tools to support supervision, overseeing critical ICT third-party service providers under the Digital Operational Resilience Act, and continuing supervision of crypto-asset service providers under MiCA. The technology and crypto items form part of a broader programme covering EU capital markets policy, investor protection and clearing.
Technology and data at the centre of supervision
ESMA said it will further enhance its data capabilities and promote innovation in the supervisory process through the development of its Data Platform and the deployment of AI-based tools to support supervision.
The regulator added that it will strengthen cybersecurity capabilities and advance work on crypto-assets and the impact of artificial intelligence on financial markets. Tokenisation, ESMA said, will remain a priority, with the authority expanding work on the opportunities it can bring to EU capital markets.
In a statement accompanying the programme, ESMA Chair Verena Ross said the authority "also continues to modernise the way it supervises markets through greater use of data and technology."
DORA and critical ICT providers
ESMA said it will carry out oversight activities for Critical ICT Third-Party Service Providers together with the other European Supervisory Authorities.
The authority also said it will continue monitoring and promoting compliance with the Digital Operational Resilience Act across all of its supervisory mandates.
Crypto supervision under MiCA
Alongside its direct supervisory responsibilities, ESMA said it will enhance supervisory convergence across the EU and continue cooperation with National Competent Authorities, including on supervision of crypto-asset service providers under MiCA.
The regulator listed a series of growing supervisory mandates for 2027, including supervision of consolidated tape providers and external reviewers of European Green Bonds, processing applications and beginning supervision of ESG rating providers, and adapting to expanded responsibilities for benchmark administrators.
The wider programme
Beyond the technology elements, ESMA said the 2027 programme marks a shift from preparation to delivery of several major initiatives under its 2023–2028 multi-annual strategy, including the European Single Access Point, the transition to T+1 settlement and support for the Retail Investment Strategy.
ESMA said it will review the impact of the EMIR 3 reforms aimed at making EU clearing markets more resilient, work it said will help ensure EU clearing houses remain robust and reduce the EU's dependence on certain systemically important clearing services located outside the EU.
Four flagship simplification initiatives — on transaction reporting, funds reporting, the retail investor journey and risk-based supervision — will enter a new phase in 2027, according to the authority, which published a separate report on simplification and burden reduction the same day.
Key facts and where they come from
- ESMA published its annual Work Programme for 2027 on 28 September 2026.
has today published its annual Work Programme for 2027
- ESMA plans to deploy AI-based tools to support supervision and develop its Data Platform.
through the development of its Data Platform and the deployment of AI-based tools to support supervision
- ESMA will conduct oversight of critical ICT third-party providers with the other ESAs.
ESMA will carry out oversight activities for Critical ICT Third-Party Service Providers together with the other European Supervisory Authorities
- ESMA will continue monitoring DORA compliance across its supervisory mandates.
continue monitoring and promoting compliance with the Digital Operational Resilience Act (DORA) across all of its supervisory mandates
- Cooperation with national regulators includes supervision of crypto-asset service providers under MiCA.
continuing the strong cooperation with National Competent Authorities (NCAs), including on supervision of crypto-asset service providers (CASPs) under MiCA
- Tokenisation remains a stated ESMA priority.
Tokenisation will remain as a priority for ESMA, further expanding the work on the opportunities it can bring to the EU capital markets.
- ESMA says it will strengthen cybersecurity capabilities and work on AI's market impact.
It will also strengthen cybersecurity capabilities and advance work on crypto-assets and the impact of artificial intelligence on financial markets.
- The programme is guided by ESMA's 2023–2028 strategy and shifts to delivery.
Guided by ESMA’s multi-annual strategy for 2023–2028, the programme is marking a shift from preparation to the delivery of several major initiatives.