ESMA released a follow-up report assessing national authorities' progress on cross-border investment firm supervision. The report covers the Netherlands, Germany, Czech Republic, Luxembourg, Cyprus, and Malta, noting successful improvements since the 2022 recommendations. Key advancements include stronger authorization controls for cross-border plans. National authorities are also increasingly employing data-driven and risk-based supervisory methods. Furthermore, cooperation and enforcement efforts among national authorities have been enhanced. The report encourages authorities with significant outbound cross-border activities to align their supervision with the scale and complexity of these activities. Effective cross-border supervision is crucial for consistent investor protection throughout the EU. ESMA urges all national authorities to consider the report's conclusions, especially those with growing outbound activities. ESMA will continue focusing on supervisory convergence, enhanced cooperation, and data-driven risk-based supervision. These efforts aim to bolster investor protection and ensure the smooth functioning of the EU Single Market.