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REPORT (2023/2162(DEC))

On discharge in respect of the implementation of the budget of the European Securities and Markets Authority for the financial year 2022

A-9-2024-0103

Committee on Budgetary Control · Rapporteur: Petri Sarvamaa

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Parliament's committee report proposes granting discharge to the Executive Director of the European Securities and Markets Authority for the 2022 budget and approving the closure of its 2022 accounts. It sets out observations on the Authority's budget and financial management, performance, efficiency gains, staff policy, procurement, conflicts of interest, internal control and environmental management. It notes the Authority's 2022 budget of EUR 68 068 551, a budget implementation rate of 98,78 % and a payment execution rate of 89,83 %. It calls on the Authority to address weaknesses in data management internal control identified by the Commission's Internal Audit Service and to mitigate risks such as volatile markets, inadequate resources and cyberattacks.

Committee position. The Committee on Budgetary Control proposes that Parliament grant discharge to the Executive Director of the European Securities and Markets Authority for the 2022 budget and approve the closure of its 2022 accounts, with observations in the accompanying resolution.

Key points

  1. Parliament grants the Executive Director of the European Securities and Markets Authority discharge for the implementation of the Authority's 2022 budget.
  2. Parliament approves the closure of the Authority's accounts for the financial year 2022.
  3. The Authority's final 2022 budget was EUR 68 068 551, up 12,32 % from 2021, financed by a Union contribution of EUR 17 301 544, national supervisory authority contributions of EUR 27 293 765 and fees of EUR 22 228 234.
  4. The Court of Auditors found the Authority's annual accounts reliable and the underlying transactions legal and regular.
  5. Budget implementation reached 98,78 % and payment execution 89,83 %; the Authority considers revising its fee-funding model given its growing budget complexity.
  6. The Authority completed 90 % of its 2022 work programme, with most key performance indicators achieved or exceeded.
  7. The Authority intensified risk monitoring and supervisory activities in response to Russia's invasion of Ukraine and adopted temporary emergency measures on gas and electricity market liquidity constraints.
  8. The Authority's 2022 priorities covered sound capital markets, sustainable finance and innovation and digitalisation, delivering technical input on MiFID II and MiFIR and the Listing Act, a sustainable finance roadmap and crypto-asset warnings.
  9. The Authority pursued efficiency gains through internal redeployment, inter-institutional procurement, digitalisation, cloud migration and sharing an accounting officer with the European Banking Authority.
  10. On 31 December 2022 the establishment plan was 87,60 % implemented with 219 temporary agents out of 243 authorised, plus 91 contract agents and 12 seconded national experts; total staff rose 45 % from 2021.
  11. The Authority revised its conflict of interest policy for non-staff, reported no harassment cases in 2022, and addressed the Court's observation on conflicts of interest management.
  12. The Internal Audit Service found weaknesses in data management internal control and issued five recommendations, two very important; the Authority is called on to address them and report progress.

Who is affected

  • The European Securities and Markets Authority and its Executive Director, who receive discharge and account closure for 2022.
  • The Authority's staff, management and Management Board, subject to its conflict of interest, ethics and gender balance policies.
  • National supervisory authorities of the member states, which contribute to the Authority's budget and participate in peer reviews.
  • Supervised entities, which pay fees to the Authority.

Figures and deadlines

  • EUR 68 068 551 — the Authority's final budget for 2022.
  • 12,32 % — increase in the 2022 budget compared to 2021.
  • EUR 17 301 544 (25,41 %) — Union contribution to the 2022 budget.
  • EUR 27 293 765 (40,10 %) — contributions from national supervisory authorities.
  • EUR 22 228 234 (32,66 %) — fees received from supervised entities.
  • 98,78 % — budget implementation rate in 2022, a decrease of 1,17 % from 2021.
  • 89,83 % — execution rate of payment appropriations, a decrease of 0,08 % from 2021.
  • EUR 99,4 million — total value of three open IT tenders among 14 procurement procedures in 2022.

Legal basis: Article 319 of the Treaty on the Functioning of the European Union.