Response to the European Commission consultation on the establishment of a European single access point (ESAP) for financial and non-financial information publicly disclosed by companies.
Finance Watch supports the creation of a European single access point (ESAP).
Main policy asks within consultation response:
- Prioritise inclusion of EU company financial, sustainability and company law disclosures, as well as product-related disclosures relevant for retail investors.
- Allow voluntary disclosures by companies outside the scope of the EU disclosure requirements.
- Organise ESAP as a public-private partnership operated by all three European Supervisory Authorities with a leading role played by the European Securities and Markets Authority (ESMA). All relevant stakeholders should be involved in the governance with retail investors, academia and civil society on an equal footing with financial industry.
- Bulk of ESAP funding should come from financial industry participants who will be the biggest economic beneficiaries of ESAP.
- Disclosures should be done in a structured and machine-readable format and be accessible without need for any specialised software.