14 Amendments of Emil RADEV related to 2021/0378(COD)
Amendment 15 #
Proposal for a regulation
Recital 3
Recital 3
(3) ESAP should provide the public with an easy centralised access to information about entities and their products that is made public in relation to financial services, capital markets and sustainability. ESAP should also provide access to information relevant to financial services and capital markets that is made public on a voluntary basis by any entity governed by the law of a Member State, where such entity chooses to make that information accessible on ESAP. The public shall be able to, at any time, distinguish the information provided on a voluntary basis from the information collected on a mandatory basis. As presented in the Digital Finance Strategy, ESAP should be established as from 2024.
Amendment 18 #
Proposal for a regulation
Recital 3 a (new)
Recital 3 a (new)
(3 a) ESAP should not create any new reporting requirements in terms of content, but should build upon existing disclosure requirements stemming from EU legislation as identified in the Annex. Also, it is important to avoid double reporting so as to prevent additional administrative and financial burdens for the entities, especially SMEs.
Amendment 19 #
Proposal for a regulation
Recital 4
Recital 4
(4) The information to be made publicly accessible on ESAP should be collected by collection bodies designated for the purpose of collecting the information that the entities are under an obligation to make public. In order to ensure the efficient functioning of ESAP, the collection bodies should make the information available to ESAP in automated ways through a single application programming interface. Where possible, and subject to the decision of the relevant Member State, collection bodies designated for the purpose of collecting information that the entities are obliged to publicly disclose, should also be entrusted with collecting voluntary submissions of information. For the information to be digitally usable, entities should make such information available in a data extractable format or, where required by Union law, in a machine- readable format. Compared to data extractable formats, machine-readable formats are file formats structured so that software applications can easily identify, recognise and extract specific data, including individual statements of fact, and their internal structure. To ensure that entities submit the information in the correct format and to address possible technical issues encountered by the entities, the collection bodies should provide assistance to those entities.
Amendment 22 #
Proposal for a regulation
Recital 5
Recital 5
(5) Apart from the information in relation to financial services, capital markets and sustainability that has to be made public under Union law, investors, market participants, advisors and the public at large may have an interest in obtaining other information that an entity wants to make accessible. Small and medium-sized enterprises may want to make more information publicly accessible in order to become more visible to potential investors and thereby increase funding and diversify funding opportunities. Also, market participants may want to provide more information than that required by law or to make public the information required by national law but not available at Union level in order to complement the information provided to the public at the Union level. Any entity should therefore be allowed to make financial, sustainability- related and other relevant information accessible on ESAP. Entities that wish to make information accessible on ESAP should be responsible for its quality, completeness, and accuracy. Information should be submitted in good faith and reflect the true state of affairs. Pursuant to the principle of data minimisation, entities should ensure that no personal data are included, except where those data constitute a necessary element of the information about their economic activities, including when the name of the entity coincides with the name of the owner. Where such information contains personal data, the entities should ensure that they can rely for such disclosure on one of the lawful grounds of processing laid down in Article 6 of Regulation (EU) 2016/679 of the European Parliament and of the Council26 . _________________ 26 Regulation (EU) 2016/679 of the European Parliament and of the Council of 27 April 2016 on the protection of natural persons with regard to the processing of personal data and on the free movement of such data, and repealing Directive 95/46/EC (General Data Protection Regulation) (OJ L 119, 4.5.2016, p. 1).
Amendment 36 #
Proposal for a regulation
Article 3 – paragraph 3 a (new)
Article 3 – paragraph 3 a (new)
3 a. Entities submitting information to a collection body on a voluntary basis shall act in good faith and ensure that the information is fair, accurate and is being disclosed in a clear and not misleading manner.
Amendment 37 #
Proposal for a regulation
Article 3 – paragraph 3 b (new)
Article 3 – paragraph 3 b (new)
3 b. Information provided to a collection body on a voluntary basis shall be presented in a manner that allows users to distinguish it from information collected on a mandatory basis.
Amendment 38 #
Proposal for a regulation
Article 4 – paragraph 1
Article 4 – paragraph 1
ESMA, on the web portal referred to in Article 7(1), point (a), shall publish a list of the collection bodies with information about the name, address, Member State of origin and the Uniform Resource Locator (URL) of each collection body.
Amendment 39 #
Proposal for a regulation
Article 5 – paragraph 1 – point b – point ii
Article 5 – paragraph 1 – point b – point ii
(ii) the metadata as specified pursuant to paragraph 6, point (d) is available and complete, complete and kept only for as long as the information to which it relates is stored;
Amendment 44 #
Proposal for a regulation
Article 5 – paragraph 4
Article 5 – paragraph 4
4. Entities shall ensure the quality, completeness and accuracy of the information they submit to the collection bodies.
Amendment 46 #
Proposal for a regulation
Article 5 – paragraph 6 a (new)
Article 5 – paragraph 6 a (new)
6 a. The Joint Committee of the European Supervisory Authorities shall develop procedures that aim to facilitate cooperation between collection bodies and entities, in particular regulating the submission and withdrawal of voluntary information, and including, where appropriate, relevant templates. When developing such procedures the Joint Committee shall take into consideration in particular the needs of small and medium-sized enterprises.
Amendment 47 #
Proposal for a regulation
Article 7 – paragraph 3 – introductory part
Article 7 – paragraph 3 – introductory part
3. The search function referred to in paragraph 1, point (c), shall allow for a search on the basis of at least the following metadata:
Amendment 56 #
Proposal for a regulation
Article 8 – paragraph 4 – introductory part
Article 8 – paragraph 4 – introductory part
4. For the purposes of paragraph 2, second subparagraph, ESMA mayshall develop draft implementing technical standards to determine the nature and extent of the specific services for which fees may be charged and to determine the associated fee structure.
Amendment 59 #
Proposal for a regulation
Article 11 – paragraph 1 – point c
Article 11 – paragraph 1 – point c
(c) ensure that ESAP is accessible at least 95% of the time per monthother than during periods of necessary technical maintenance;
Amendment 63 #
Proposal for a regulation
Article 12 – paragraph 2 – point a
Article 12 – paragraph 2 – point a
(a) the number of visitors, including unique visitors and searches;