Response to Commission consultation on a European Single Access Point

The European Single Access Point (ESAP) should include information already disclosed by companies listed on Regulated Markets and SME Growth Markets, as well as information from non-listed companies. The ESAP would facilitate seamless access and availability of disclosed company data and serve as a basis for investors’ assessments, supporting investment in listed companies and thereby promoting the Capital Markets Union. In addition, the ESAP could facilitate financial market participants’ access to disclosures.

The ESAP should not introduce new mandatory disclosure requirements for companies. Companies should only have to report once and to one authority. The scope of the ESAP should be assessed very carefully to avoid introducing additional disincentives for companies to list on public markets as this would be contrary to the objectives of the Capital Market Union. On the condition that some harmonisation of information may be necessary, this should be done in a proportionate manner that does not negatively impact issuers, in particular SMEs, which may lack resources to report according to certain formats.