In 2024, the EU transitioned from one institutional cycle to the next, while being impacted by changes in the economic and geopolitical circumstances. These changes started to reshape and refocus the priorities of the EU and ESMA. ESMA was active in a rich debate about Europe’s challenges and the critical role that capital markets need to play in order to overcome them. Take a closer look at the milestones we have reached.

The purpose of this Call for evidence is to gather feedback from stakeholders to better understand how retail investors engage with investment services, and whether regulatory or non-regulatory barriers may be discouraging participation in capital markets.

ESMA has published today guidelines on supervisory practices to prevent and detect market abuse under the Market in Crypto Assets Regulation (MiCA). Based on ESMA's experience under Market Abuse Regulation (MAR), the guidelines intended for National Competent Authorities (NCAs) include general principles for effective supervision and specific practices for detecting and preventing market abuse in crypto assets. They consider the unique features of crypto trading, such as its cross-border nature and the intensive use of social media.

ESMA published its Position Paper on “Building more effective and attractive capital markets in the EU”. The Paper includes 20 recommendations to strengthen EU capital markets and address the needs of European citizens and businesses.

ESMA will focus on strengthening supervision, enhancing the protection of retail investors, fostering effective markets and financial stability, enabling sustainable finance, as well as facilitating technological innovation and effective use of data.