25/10/2021 | ESMA
Reasons for publication
1. Following the ESAs’ Review, ESMA has a reinforced obligation to foster and monitor NCAs’ supervisory independence1 . This new obligation adds to the already existing assessment of the degree of independence of the NCAs in the peer reviews2 ESMA conducts. 2. Based on self-assessments provided by NCAs, this report takes stock of the situation on NCAs’ independence along key angles, namely operational, financial and personal independence as well as accountability and transparency. This report does not represent an assessment of NCAs’ independence, rather it seeks to factually represent the legal and operational position of NCAs under the key angles of independence. It is based on information, with varying degrees of granularity, provided by the NCAs.