Page 36 - 期货和衍生品行业监管动态（2025年6月）

期货和衍生品行业监管动态

simplification and benefits to investors and the industry;

 Implemented steps to optimise the use of financial market data across the

EU, while at the same time introducing the changes in the transparency

framework under the MiFIR review that will contribute to a significant

reduction in the reporting burden for market participants;

 Enhanced investor protection by running common supervisory actions and a

mystery shopping exercise on marketing communications which allowed

ESMA to identify and publicise key risks;

 Improved the information available to investors by issuing guidelines on the

use of ESG and sustainability-related terms in fund names to reduce the risk

of greenwashing; and

 Strengthened ESMA’s role as a data hub by upgrading data collection and

analysis, advancing AI-powered tools and improving data accessibility, and

migrating all ESMA’s datasets and analytical tools to its new ‘big data’

platform.

ESMA significantly advanced its supervisory effectiveness in 2024, scaling up

risk-based and data-driven supervision across its mandates. Key actions included the
execution of EU-wide stress tests with over 30 central counterparties (CCPs), the

enhancement of third-country CCP oversight, enforcement measures such as the

sanctioning of a credit rating agency for conflicts of interest, and the roll-out of

transversal guidelines to harmonise supervisory practices. ESMA also published the

first consolidated report on sanctions and measures imposed by the NCAs and

launched supervisory colleges for complex cross-border entities. These efforts reflect

ESMA’s commitment to effective supervision, now also tracked through a dedicated

Key Outcome Indicator measuring the proportion of elevated supervisory risks

addressed through direct supervision and convergence actions.

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