INSIGHT by the Council of the EU
The EU is about to create a single point of access to public financial and non-financial information about EU companies and EU investment products. On November 27, the Council adopted a regulation creating the European Single Access Point (ESAP) – a platform that will make this information easier for investors to consult.
The European Single Access Point will give companies more visibility towards investors and open up more financing opportunities, especially for small companies in small capital markets.
Investors in capital markets must have access to comparable information about companies and financial products. The ESAP will offer free, user friendly, centralised and digital access to financial and sustainability-related information made public by European companies, including small companies. This will facilitate the decision-making process for a broad range of investors, including retail investors.
ESAP does not impose any additional information reporting requirements on European companies. The accessible information will already be public in application of the relevant European directives and regulations. Sustainability information will also be made available on ESAP.
| Background and next steps
On 25 November 2021, the Commission adopted and transmitted to the Council a proposal for the regulation establishing the European Single Access Point (ESAP). The establishing regulation is accompanied by an amending omnibus regulation and an amending omnibus directive – two pieces of legislation that amend a number of acts, to take account of the ESAP.
This proposal is part of the Capital Markets Union package which the Commission presented on 25 November 2021.
The Council adoption closes the decision-making procedure. The regulation will be published in the Official Journal and enter into force 20 days after its publication.
The ESAP platform is expected to be available from summer 2027 and gradually phased in to allow for a robust implementation. This phasing-in will ensure that European regulations and directives will enter into the scope of ESAP within four years, in order of priority. During this time, there will also be a regular assessment of ESAP’s functioning and a review that should guarantee the adequacy of the platform to the needs of its users and its technical efficiency.
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