On 15 December 2021, the Commission adopted the strategy on supervisory data in EU financial services. The Commission’s strategy builds upon the conclusions of the comprehensive fitness check of EU supervisory reporting requirements in financial sector legislation.
The objective of the strategy is to modernise EU supervisory reporting and put in place a system that delivers accurate, consistent, and timely data to supervisory authorities at EU and national level, while minimising the aggregate reporting burden for all relevant parties.
The strategy contributes directly to the implementation of the European data strategy and the digital finance strategy. It also delivers on recent Commission commitments to systematically and proactively seek simplification and burden reduction. Furthermore, by supporting supervisory convergence, the strategy contributes to the objectives of the capital markets union.