The Joint Committee of the three European Supervisory Authorities has published its annual work programme for the year ahead. In 2027, the Joint Committee will focus on areas where cooperation among the three ESAs is essential to support financial stability, consumer protection and effective supervision. The news item then lists the headline items: digital operational resilience, technological innovation, sustainable finance, securitisation and cross-sectoral risk monitoring.
DORA oversight work is set to continue
The programme document opens its digital resilience material with a statement on oversight, which reads as follows. The JC will continue its work on the effective operation of the Oversight Framework of critical ICT third-part providers (CTPPs) and its work related to supervisory convergence of DORA. A later paragraph of the document adds a line on the Commission: the ESAs, through the Oversight Forum, will support the EC in the preparation of a potential legislative proposal in the context of the review of DORA.
On outcomes, the document says that The outcomes of the oversight activities will contribute to greater digital operational resilience of the EU financial sector. It also gives the ESAs a reporting task: the ESAs will develop an annual report on major ICT-related incidents. InsuraBeat has separate coverage of the first DORA incident baseline report.
A separate passage of the programme document covers crisis response, and the relevant sentence in the text reads: 2027 will prioritise testing and member capacity-building to ensure robust crisis response.
Consumer protection, sustainable finance and AI
Consumer protection receives its own short statement in the EIOPA news item on the work programme, which reads: Consumer protection will remain a central priority. The programme document describes the role in broader terms, saying that The JC strengthens European consumer confidence and protection in the areas of banking, insurance and pensions as well as securities products and services.
The document also names a drafting task tied to the Retail Investment Strategy. It says that In 2027, the ESAs expect to work on drafting RTS and ITS based on the empowerments in the proposed amendments to the PRIIPs Regulation in the EC’s Retail Investment Strategy, including consumer testing and public consultation.
On sustainable finance, the document states that The JC will continue to prioritise sustainable finance as a key topic. For the disclosure rules, it says For SFDR, the ESAs will monitor the on-going review of the Level 1 text while providing clarifications where necessary on the existing framework. The news item adds: In sustainable finance, the Joint Committee will continue to support the consistent application of the EU’s sustainability framework across sectors.
Technology gets two passages. The innovation section of the document says In 2027, special focus will be given to Artificial Intelligence (AI) and tokenisation. It goes on: As to AI, EFIF members will continue sharing experiences with use cases and AI sandboxes, which are being established under the AI Act. The news item states that The Joint Committee will also assess the implications of technological developments, including the growing use of artificial intelligence and other digital innovations. InsuraBeat has separate coverage of an earlier ESAs statement on AI governance.
A monitoring task on large technology firms is also listed: The ESAs will run the third data collection exercise to monitor the role of BigTechs as financial services providers in the EU.
Securitisation and conglomerate supervision
The securitisation section of the programme document starts from a Commission proposal, described in these terms. In June 2025, the European Commission published a package of reforms proposing amendments to the Securitisation Regulation (SECR), the Capital Requirements Regulation (CRR), the Liquidity Coverage Ratio (LCR), and the Solvency II framework. On timing, the document reports that Trilogues commenced in June 2026, with implementation currently expected in Q1/Q2 2027.
As for the committee’s own task, the text says The JCSC will also deliver on the mandates stemming from the June 2025 legislative proposals on the revision of the SECR.
Financial conglomerates form a separate strand in the programme document, which states that The ESAs will continue to ensure cross-sectoral consistency of work and to reach joint positions in the area of supervision of financial conglomerates It also lists a reporting deliverable: Launch of a public consultation for reporting template on capital adequacy in Q1 2027 and finalisation of the technical standard by end 2027. InsuraBeat has separate coverage of EIOPA’s work on reporting templates.
Simplification as the stated context
On context, the document says The JC will implement its 2027 work programme activities, deliverables and coordination mechanisms within the context of simplification and burden reduction. A further sentence is conditional: Where appropriate, joint work may contribute to reducing overlapping requirements (including in reporting), with a further reference to improving the usability and consistency of the EU regulatory framework.
The news item ties the programme to Commission objectives: It also supports the European Commission’s objectives to build an efficient Savings and Investment Union.
For risk monitoring, the programme says The JC will continue to remain an important forum for discussion of cross-sectoral risks. On the reporting line for those discussions, the text says The key findings will be presented to the Council through the EU’s Economic and Financial Committee (EFC) and the Financial Stability Table (FST) meetings. The text also records participation: The European Commission (EC) and the European Systemic Risk Board (ESRB) participate in the JC work, alongside national competent authorities via dedicated JC sub-structures.
