ESMA EBA EIOPA refers to the three European Supervisory Authorities responsible for overseeing financial markets in the European Union. ESMA regulates securities markets, EBA supervises banking, and EIOPA oversees insurance and occupational pensions. These independent bodies work to maintain financial stability and protect consumers. They contribute to a consistent application of EU law.
Context
These authorities collectively play a pivotal role in shaping the regulatory landscape for digital assets and blockchain technology within the EU. Their ongoing work involves developing technical standards and guidelines under new legislation, such as the Markets in Crypto-Assets Regulation (MiCA). A critical future development includes their collaborative efforts to monitor and address emerging risks posed by digital assets across the banking, securities, and insurance sectors.
Financial entities must immediately update third-party risk management frameworks to comply with DORA's heightened oversight for designated critical ICT providers.
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