Your one-stop-shop in the world of EU financial markets focused in December on the European Securities and Markets Authority (ESMA) latest report on Cost and Performance of retail products. In this annual report, ESMA finds that the average costs of investing in key EU retail financial products has declined by the end of 2022. However, cost heterogeneity persisted across EU Member States.

In addition, ESMA is expected to launch its first Common Supervisory Action on ESG disclosures for Benchmarks Administrators. It is the first CSA for ESMA in its role as a direct supervisor of Benchmarks Administrators.

ESMA released several articles and studies: 

• on making finance work for a sustainable future;
• on proposed changes and an updated timeline for ESMA’s Guidelines on funds’ names;
• on sustainable finance, and clarity and tips to consumers;
• on sustainability disclosures for the financial sector; and 
• on cyber risk as a new Union Strategic Supervisory Priority.

Others: 

• Draft technical standards under the revised ELTIF regulation published;
• ESMA consultation on draft guidelines for supervision of corporate sustainability information; and 
• Climate risk stress testing and financial impact of greenwashing controversies