About
Part of objective 1 of the capital markets union (CMU) action plan, action 1 aims to make companies more visible to cross-border investors.
European single access point (ESAP)
The overall objective of establishing a European single access point (ESAP) is to provide for seamless, EU-wide access to all relevant information (including financial and sustainability-related information) disclosed to the public by companies including financial companies. This platform is to facilitate the flow and use of information in order to contribute to further integrating European capital markets, to enable a more efficient allocation of capital across the EU, and indirectly to strengthen the resilience of the EU’s economy through broader private risk sharing across the EU. By providing investors with a user-friendly, EU-wide mechanism to access information disclosed by companies, the ESAP would foster access to capital markets, including by SMEs, and promote cross-border investments. The ESAP should reduce search and processing costs for users of company information, while avoiding disproportionate administrative costs for companies that are subject to disclosure obligations. The platform is to build upon existing EU and national IT infrastructure (databases, register, etc.) in order to avoid adding to companies reporting burden.
- More on transparency requirements for listed companies
- More on this initiative and inception impact assessment
- Targeted consultation on the establishment of a European single access point (ESAP) for financial and non-financial information publicly disclosed by companies
- ESAP Regulation, Omnibus Directive and Omnibus Regulation – 25 November 2021
- Political agreement - 24 May 2023
- Entry into force of the ESAP Regulation and of the Directive establishing and functioning of the ESAP - 9 January 2024