The focus of ESMA’s activities in 2025 was on enhancing supervision, simplifying legislation, and innovation. In 2025–2026, ESMA has implemented several measures and published related news releases. The focus is now shifting to the implementation of strategic projects, while the Work Programme for 2027 will support the objectives of the Savings and Investment Union. ESMA sets 2027 priorities for stronger, simpler and more integrated EU capital markets.

• On 9 September 2026, ESMA requested views from stakeholders on updates to its Guidelines on disclosure requirements under the Prospectus Regulation. The reform of the Prospectus Regulation is part of the EU Listing Act package. The reform package includes updated Q&As, guidance on supplements to base prospectuses, and revised Regulatory Technical Standards (RTS) on financial information to be presented in prospectus summaries. Overview of changes made to the Prospectus Q&As, ESMA32-753890202-3034 Final report on the Guidelines on supplements which introduce new securities to a base prospectus and ESMA32-753890202-3065 Final report on the update to the RTS concerning key financial information in the summary of a prospectus (ESMA consults on disclosure requirements and updates guidelines and Q&As under the Prospectus Regulation). Feedback and comments are requested by 9 November. The final report and updated guidelines will be published in late spring 2027.
• On 28 September 2026, ESMA published a report outlining the actions taken during 2026 and planned for 2027 to simplify regulation and reduce the administrative burden in its regulatory and supervisory activities. ESMA's contribution to simplification and burden reduction
• On 12 March 2026, ESMA proposed measures to simplify the retail investor journey and make investing more accessible. The required needs are based on the findings of ESMA35-243228190-7410 Report on the retail investor journey: understanding retail participation in capital markets. ESMA sets out actions to simplify the retail investor journey and make investing more accessible
• On 9 January 2026, ESMA published its principles for risk-based supervision. The principles aim to support the development of a common and effective EU-wide supervisory culture and to strengthen the EU single market. Principles for risk-based supervision: a critical pillar for ESMA’s simplification and burden reduction efforts
• On 10 July 2026, ESMA announced that Officially Appointed Mechanisms (OAMs) and National Competent Authorities (NCAs) have started to provide the information and related metadata they collect from entities to the European Single Access Point (ESAP). The ESAP system will become accessible to the public by July 2027, as required by the ESAP Regulation. ESMA launches data collection under the first phase of ESAP
• On 1 July 2026, ESMA published technical advice on certain key performance indicators (KPIs) under the Taxonomy Disclosures Delegated Act. The aim is to simplify reporting requirements and reduce the administrative burden on market participants. ESMA consults on simplifying EU Taxonomy disclosure framework
• On 22 June 2026, ESMA published a register of firms authorised to act as external reviewers of European Green Bonds. ESMA publishes the register of external reviewers under the EuGB Regulation
• On 7 May 2026, ESMA published a report on enforcement and regulatory activities for listed companies in 2025. The report provides an overview of how national enforcers and ESMA supervised corporate reporting across the EEA during 2025. The report also includes initial findings on ESRS reporting. Esma-outlines-enforcement-activities-corporate-reporting-across-eea-2025
• On 18 February 2026, ESMA issued a statement providing practical guidance to national competent authorities (NCAs), issuers and their advisors on the application of the revised prospectus framework introduced by the Listing Act. ESMA publishes statement supporting the smooth implementation of the Listing Act – simplifying prospectus compliance for issuers