ESAP: provisional agreement reached by the Council and the Parliament
On May 23 2023, the Council of the European Union and European Parliament reached a provisional agreement on three proposals creating the European Single Access Point (ESAP), which is part of the Capital Markets Union (CMU) Action Plan.
ESAP will further foster the integration of financial services and capital markets within the Union and help achieving the objectives of the Capital Markets Union.
ESAP will provide access to information already made public in application of the relevant European directives and regulations. Sustainability information will be made available early on ESAP.
Under this provisional agreement, the ESAP platform is expected to be available from summer 2027 and gradually phased in. This phasing-in will ensure that European regulations and directives will in accordance with their priority enter into the scope of ESAP within four years. During this time, there will also be a regular assessment of ESAP’s functioning and a review clause that should guarantee the adequacy of the platform to the needs of its users and its technical efficiency.