ESAs recommend further actions for digital finance, strengthening supervision of BigTech active in financial services
April 14, 2022
On 7 February 2022, the European Supervisory Authorities (ESAs), comprising of the European Banking Authority (EBA), the European Securities and Markets Authority (ESMA) and the European Insurance and Occupational Pensions Authority (EIOPA), published their Joint Advice to the European Commission on Digital Finance. The joint advice was prepared in response to the European Commission’s (Commission) request for technical advice that was issued to the ESAs in February 2021 (please see our blog). It sets out sets out the ESAs’ findings and advice in response to the Commission’s request.