ESMA has published its Risk Assessment Work Programme for 2018, in which it establishes priorities for assessing securities market risks.
ESMA will complement ongoing market monitoring through its semi-annual Report on Trends, Risks and Vulnerabilities, and its Quarterly Risk Dashboards, by launching an annual series on EU derivatives markets (based on EMIR data) and an annual report series on EU AIFs (based on AIFMD data).
Other topics to be analysed will be:
- Market and fund liquidity;
- Fund leverage; and
- The impact of innovation, especially in market infrastructures and investment advice.
This Risk Assessment complements other activity reporting documents, including:
- Single Programming Document;
- Regulatory Work Programme;
- Supervisory Work Programme;
- Supervisory Convergence Work Programme.