What Changed
- Established 2027 priorities focused on DORA compliance, ICT third-party provider oversight, and evaluating the impact of artificial intelligence.
- Committed to joint work on retail consumer protection and consistent application of the EU sustainable finance framework.
- Aligned supervisory priorities with European Commission goals for a Savings and Investment Union and regulatory simplification.
The Joint Committee of the European Supervisory Authorities (comprising the European Banking Authority [EBA], the European Insurance and Occupational Pensions Authority [EIOPA], and the European Securities and Markets Authority [ESMA]) has published its Annual Work Programme for 2027. According to news releases published by both ESMA and the EBA, the work programme outlines joint priorities aimed at addressing cross-sectoral risks and enhancing coordination across the European Union's financial sector.
For 2027, the Joint Committee will direct its focus toward key areas where inter-agency cooperation is critical for financial stability, consumer protection, and effective supervision. Identified priorities include digital operational resilience, technological innovation, sustainable finance, securitisation, and cross-sectoral risk monitoring.
In accordance with the Digital Operational Resilience Act (DORA), the ESAs will carry out oversight activities regarding critical Information and Communication Technology (ICT) third-party service providers. The Joint Committee also intends to strengthen the financial sector's cybersecurity preparedness and evaluate the broader supervisory implications of emerging digital technologies, including artificial intelligence.
Consumer protection remains a primary focus. The ESAs will maintain joint initiatives for retail consumers to promote informed decision-making and support public trust in EU financial markets. In sustainable finance, the Joint Committee will focus on ensuring the consistent cross-sectoral application of the EU's regulatory framework.
Furthermore, the 2027 work programme aligns with broader European Commission objectives, specifically the establishment of an efficient Savings and Investment Union and the implementation of a regulatory simplification agenda designed to lower administrative burdens while maintaining robust regulatory standards.
The Joint Committee serves as the established forum through which EBA, EIOPA, and ESMA coordinate cross-sectoral supervisory practices across all EU Member States.
Who May Be Affected
EU financial institutions, critical ICT third-party service providers, retail financial consumers, and market entities regulated under EU financial rules.
Cross-Border Context
Applies across the European Union, affecting foreign institutions and international ICT service providers operating within the EU financial regulatory framework.
What to check next
- Monitor future technical standards and guidelines issued by EBA, EIOPA, and ESMA concerning DORA oversight and AI supervisory frameworks.
This article provides general information and does not constitute legal advice. Consult the official text and obtain advice appropriate to your circumstances where needed.