2021/0378(COD) | [ParlTrack]

Proposal for a regulation
Recital 2

(2) Easy access to data is important in order for decision makers in the economy and society to make sound decisions that serve the efficient functioning of the market. Rolling out common European data spaces in certain crucial sectors, including the financial sector, would serve that purpose. The financial sector is undergoing a digital transformation, which is expected to continue in the coming years, and the Union should support that transformation, in particular by promoting data-driven finance. Furthermore, putting sustainable finance at the heart of the financial system is a key means to achieving a green transition of the economy of the Union, ensuring that no individuals or places are left behind. For the green transition to succeed through sustainable finance, it is essential that information related to the sustainability of businesses is easily accessible to investors so that they are better informed when making decisions about investments. For those purposes, public access to ~~entities’~~the information of certain categories of entity, such as companies, businesses, financial institutions, financial and non- financial information needs to be improved. An efficient means to do so at Union level is to establish a centralised platform, a European single access point (“'ESAP”'), giving electronic access to all relevant information, to be made available in accordance with all EU legal provisions.

Amendment 13 #

Proposal for a regulation
Recital 2

(2) Easy access to data is important in order for decision makers in the economy and society to make sound decisions that serve the efficient functioning of the market. Rolling out common European data spaces in crucial sectors, including the financial sector, would serve that purpose. The financial sector is undergoing a digital transformation, which is expected to continue in the coming years~~, and the Union should support that transformation, in particular by promoting data-driven finance~~. Furthermore, putting sustainable finance at the heart of the financial system is a key means to achieving a green transition of the economy of the Union. For the green transition to succeed through sustainable finance, it is essential that information related to the sustainability of businesses is easily accessible to investors so that they are better informed when making decisions about investments. For those purposes, public access to entities’ information such as companies, businesses, financial institutions, financial and non-financial information needs to be improved. An efficient means to do so at Union level is to establish a centralised platform, a European single access point (“ESAP”), giving electronic access to all relevant information.

Amendment 14 #

Proposal for a regulation
Recital 2

(2) Easy access to data is important in order for decision makers in the economy and society to make sound decisions that serve the efficient and sustainable functioning of the market. Rolling out common European data spaces in crucial sectors, including the financial sector, would serve that purpose. The financial sector is undergoing a digital transformation, which is expected to continue in the coming years, and the Union should support that transformation, in particular by promoting data-driven finance. Furthermore, putting sustainable finance at the heart of the financial system is a key means to achieving a green transition of the economy of the Union. For the green transition to succeed through sustainable finance, it is essential that information related to the sustainability of businesses is easily accessible to investors so that they are better informed when making decisions about investments. For those purposes, public access to entities’ information such as companies, businesses, financial institutions, financial and non- financial information needs to be improved. An efficient means to do so at Union level is to establish a centralised platform, a European single access point (“ESAP”), giving electronic access to all relevant information.

Amendment 15 #

Proposal for a regulation
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 16 #

Proposal for a regulation
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, without, however, jeopardising the commercial status of the entities concerned. 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. As presented in the Digital Finance Strategy, ESAP should be established as from 2024.

Amendment 17 #

Proposal for a regulation
Recital 3 a (new)

(3a) Categories of entities providing information through ESAP shall not publish confidential information that could lead to a competitive disadvantage on the EU internal market, such as know- how data or trade secrets within the meaning of Directive (EU) 2016/943 of the European Parliament and of the Council of 8 June 2016 on the protection of undisclosed know-how and business information (trade secrets) against their unlawful acquisition, use and disclosure.

Amendment 18 #

Proposal for a regulation
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

(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 20 #

Proposal for a regulation
Recital 4

(4) The information to be made publicly accessible on ESAP should be collected by specialised collection bodies ~~designated~~specifically designated by the relevant authorities for the purpose of collecting the information that the entities are under an legal 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. 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 21 #

Proposal for a regulation
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. 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 or additional administrative or financial matters encountered by the entities, the collection bodies should provide assistance to those entities.

Amendment 22 #

Proposal for a regulation
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 23 #

Proposal for a regulation
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 on a voluntary basis. 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, provided that it does not lead to any competitive imbalance or disadvantage on the internal market. 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 24 #

Proposal for a regulation
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. Pursuant to the principle of data minimisation and data protection legislation, 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 25 #

Proposal for a regulation
Recital 10

(10) Re-using information that is available on ESAP can improve the functioning of the internal market and promote the development of new services that combine and make use of such information. It is therefore necessary, where justified on grounds of a public interest objective, to allow re-use of the information that is available on ESAP for purposes other than the purposes for which the information was drawn up. However, the use and re-use of that information should be subject to objective, proportionate and non-discriminatory conditions. For that purpose, conditions corresponding to those laid down in open, standard licences within the meaning of Directive (EU) 2019/1024 of the European Parliament and of the Council27 should apply. The licensing terms of those standard licences should adhere to the FAIR principles (findable, accessible, interoperable, re-usable) and allow for data and content to be freely accessible, used, modified and shared by anyone for any purpose. ESMA should bear no liability for the use and re-use of information accessible on ESAP. The submission of information by the collection bodies should either not be subject to conditions or be subject to an open standard licence enabling the licensing terms applying for information accessible in the ESAP. _________________ 27 Directive (EU) 2019/1024 of the European Parliament and of the Council of 20 June 2019 on open data and the re-use of public sector information (OJ L 172, 26.6.2019, p. 56).

Amendment 26 #

Proposal for a regulation
Recital 10

(10) Re-using information that is available on ESAP can improve the functioning of the internal market and promote the development of new services that combine and make use of such information. It ismay therefore be necessary, where justified on grounds of a public interest objective and for a specified period, to allow re-use of the information that is available on ESAP for purposes other than the purposes for which the information was drawn up. However, the use and re-use of that information should be subject to objective, well justified, proportionate and non-discriminatory conditions. For that purpose, conditions corresponding to those laid down in open, standard licences within the meaning of Directive (EU) 2019/1024 of the European Parliament and of the Council27 should apply. The licensing terms of those standard licences should allow for data and content to be freely accessible, used, modified and shared by anyone for any purpose. ESMA should bear no liability for the use and re-use of information accessible on ESAP. The submission of information by the collection bodies should either not be subject to conditions or be subject to an open standard licence enabling the licensing terms applying for information accessible in the ESAP. ~~_________________ 27 Directive (EU) 2019/1024 of the European Parliament and of the Council of 20 June 2019 on open data and the re-use of public sector information (OJ L 172, 26.6.2019, p. 56).~~

Amendment 27 #

Proposal for a regulation
Recital 11

Amendment 28 #

Proposal for a regulation
Recital 12

(12) ESAP should provide users with access to information for free and without discrimination and should make it possible for those users to search, access and download the information through ESAP. However, taking into account the need to protect ESMA from an excessive financial burden in relation to costs incurred for serving the needs of intensive users, if any, ESMA should have the ability to generate revenues. Therefore, by way of derogation from the principle that information should be accessible free of charge, ESMA should be allowed to impose fees for those specific services, including for services with high maintenance costs due to ~~searches for~~the extraction of very large volumes of information or to frequent access to ESAP, when those extractions are intended for a commercial re-use of data. Any fees imposed should, however, not exceed the cost incurred for the provision of the service ~~provided~~.

Amendment 29 #

Proposal for a regulation
Recital 17

(17) To ensure a smooth processing of the information received or drawn-up by the collection bodies and made available to ESAP, it is necessary to lay down certain requirements specifying the format and the metadata of that information and which collection bodies should collect such information. In order to ensure the quality of the information submitted to ESAP by the collection bodies, it is also necessary to define the characteristics of the automated validations to be carried out on each information reaching the collection bodies, and the characteristics of the qualified electronic seal to be attached to that information by the entities. To ensure the use and re-use of data on ESAP, a list of the designated open standard licences would need to be defined. To facilitate the searching, finding, retrieving of the data in a timely manner, the characteristics of the application programming interface and the metadata to be implemented will also need to be designed. Additional requirements as regards efficient search functions will need to be implemented such as the specific legal entity identifier, the classification of the type of information, and the categories of the size of the entities. To that purpose, the Joint Committee of the European Supervisory Authorities should develop draft implementing technical standards. To that end, ESMA should conduct regular ongoing consultations with relevant stakeholders, including civil society and social partners, to develop and improve the usability of ESAP. Additionally, ESMA might develop draft implementing technical standards to determine the nature and extent of the specific services for which fees may be charged and the associated fee structure. The Commission should be empowered to adopt those implementing technical standards by means of implementing acts pursuant to Article 291 TFEU and in accordance with Article 15 of Regulation (EU) No 1093/2010 of the European Parliament and of the Council30 , No 1094/2010 of the European Parliament and of the Council31 and No 1095/2010 of the European Parliament and of the Council32 . _________________ 30 Regulation (EU) No 1093/2010 of the European Parliament and of the Council of 24 November 2010 establishing a European Supervisory Authority (European Banking Authority), amending Decision No 716/2009/EC and repealing Commission Decision 2009/78/EC (OJ L 331, 15.12.2010, p. 12). 31 Regulation (EU) No 1094/2010 of the European Parliament and of the Council of 24 November 2010 establishing a European Supervisory Authority (European Insurance and Occupational Pensions Authority), amending Decision No 716/2009/EC and repealing Commission Decision 2009/79/EC (OJ L 331, 15.12.2010, p. 48). 32 Regulation (EU) No 1095/2010 of the European Parliament and of the Council of 24 November 2010 establishing a European Supervisory Authority (European Securities and Markets Authority), amending Decision No 716/2009/EC and repealing Commission Decision 2009/77/EC (OJ L 331, 15.12.2010, p. 84).

Amendment 30 #

Proposal for a regulation
Recital 18

(18) The objective of this Regulation is to contribute to integrating the European financial services and capital markets by providing an easy centralised access to public information about certain categories of entities and their products. Since that objective cannot be sufficiently achieved by the Member States, but can rather, by reason of its scale and effects, be better achieved at Union level, the Union may adopt measures, in accordance with the principle of subsidiarity as set out in Article 5 of the Treaty on European Union. In accordance with the principle of proportionality as set out in that Article, this Regulation does not go beyond what is necessary in order to achieve that objective,

Amendment 31 #

Proposal for a regulation
Article 1 – paragraph 2 a (new)

2a. The ESAP shall not provide access to confidential information that may lead to a competitive disadvantage on the EU internal market, such as know-how data or trade secrets within the meaning of Directive (EU) 2016/943 of the European Parliament and of the Council of 8 June 2016 on the protection of undisclosed know-how and business information (trade secrets) against their unlawful acquisition, use and disclosure.

Amendment 32 #

Proposal for a regulation
Article 3 – paragraph 1 – point b

(b) provide the collection body with its legal entity identifier as specified pursuant to Article 7(4), and where applicable, the legal identifier of the group it belongs to and the legal identifiers of its own subsidiaries;

Amendment 33 #

Proposal for a regulation
Article 3 – paragraph 1 – point d a (new)

(da) ensure that no confidential data are included that could create a disadvantage on the EU internal market, such as know-how data or trade secrets within the meaning of Directive (EU) 2016/943.

Amendment 34 #

Proposal for a regulation
Article 3 – paragraph 2 – introductory part

2. The Joint Committee of the European Supervisory Authorities and the European Financial Reporting Advisory Group (EFRAG) shall develop draft implementing technical standards to specify all of the following:

Amendment 35 #

Proposal for a regulation
Article 3 – paragraph 2 a (new)

2 a. The Joint Committee of the European Supervisory Authorities shall organise a public consultation for stakeholders and shall duly take into consideration its results when drafting the implementing technical standards.

Amendment 36 #

Proposal for a regulation
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)

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

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

(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 40 #

Proposal for a regulation
Article 5 – paragraph 1 – point f – introductory part

(f) ensure that the information referred to in Article 1(1) remains available to ESAP for at least 10 years, unless stated otherwise in the legal acts referred to in Article 1(1), point (a). Personal data in the information submitted pursuant to Article 1(1) shall not be retained and made available for longer than 5 years, unless stated otherwise in the legal acts referred to in Article 1(1), point (a).

Amendment 41 #

Proposal for a regulation
Article 5 – paragraph 1 – point f – introductory part

(f) ensure that the information referred to in Article 1(1) remains available to ESAP for at least 120 years, unless stated otherwise in the legal acts referred to in Article 1(1), point (a). Personal data in the information submitted pursuant to Article 1(1) shall not be retained and made available for longer than 5 years, unless stated otherwise in the legal acts referred to in Article 1(1), point (a).

Amendment 42 #

Proposal for a regulation
Article 5 – paragraph 2 – point b

(b) where the information is manifestly inappropriate, abusive, or clearly outside the scope of the information referred to in Article 1(1) or in breach of Article 1 (2a).

Amendment 43 #

Proposal for a regulation
Article 5 – paragraph 4

4. Entities shall ensure the accuracy of the information they submit to the collection bodies and comply fully with all EU legislation.

Amendment 44 #

Proposal for a regulation
Article 5 – paragraph 4

4. Entities shall ensure the quality, completeness and accuracy of the information they submit to the collection bodies.

Amendment 45 #

Proposal for a regulation
Article 5 – paragraph 4

4. Entities shall ensure and be accountable for the accuracy of the information they submit to the collection bodies.

Amendment 46 #

Proposal for a regulation
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

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 48 #

(a a) the name of a group of undertakings;

Amendment 49 #

Proposal for a regulation
Article 7 – paragraph 3 – point b a (new)

(b a) the legal entity identifier of a group of undertakings;

Amendment 50 #

Proposal for a regulation
Article 7 – paragraph 3 – subparagraph 1 (new)

The search function shall allow users to visualise group structures of undertakings and the legal entity identifiers of each entity of a given group,

Amendment 51 #

Proposal for a regulation
Article 7 – paragraph 3 a (new)

3 a. The search function referred to in paragraph 1, point (c), shall allow for a search combining two or more criteria listed in point (3)

Amendment 52 #

Proposal for a regulation
Article 7 – paragraph 3 b (new)

3 b. Whenever applicable, ESAP shall enable users to compare data provided by entities on a given item, both throughout time and between entities.

Amendment 53 #

Proposal for a regulation
Article 7 – paragraph 4 – point b a (new)

(b a) the specific legal entity identifier of a group of undertakings referred to in paragraph 3, point (b a);

Amendment 54 #

Proposal for a regulation
Article 8 – paragraph 2 – subparagraph 1

ESMA may, however, charge fees for specific services that involve searches for a very large volume of information or for frequently updated information. Those fees shall not exceed the cost incurred by ESMA for the provision of the service.deleted

Amendment 55 #

Proposal for a regulation
Article 8 – paragraph 2 – subparagraph 1

ESMA ~~may~~shall, however, charge fees for specific services that involve ~~searches for~~the extraction of a very large volume of information or for frequently updated information, when those services are for commercial re-use of data. Those fees shall not exceed the cost incurred by ESMA for the provision of the service.

Amendment 56 #

Proposal for a regulation
Article 8 – paragraph 4 – introductory part

4. For the purposes of paragraph 2, second subparagraph, ESMA ~~may~~shall 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 57 #

Proposal for a regulation
Article 9 – paragraph 1 – point c

(c) the conditions correspond to Creative Commons Attribution 4.0 International licensing (CC BY 4.0), in line with conditions laid down in open standard licences within the meaning of Article 2(5) of Directive (EU) 2019/1024, allowing free use, modification and sharing of that information by anyone and for any purpose.

Amendment 58 #

Proposal for a regulation
Article 11 – paragraph 1 – introductory part

1. ESMA shall, in close cooperation with the European Banking Authority (EBA), the European Network of Supervisory Authorities for Corporate Sustainability Due Diligence and the European Insurance and Occupational Pensions Authority (EIOPA):

Amendment 59 #

Proposal for a regulation
Article 11 – paragraph 1 – point c

(c) ensure that ESAP is accessible ~~at least 95% of the time per month~~other than during periods of necessary technical maintenance;

Amendment 60 #

Proposal for a regulation
Article 12 – paragraph 1

1. ESMA, in close cooperation with the EBA, the European Network of Supervisory Authorities for Corporate Sustainability Due Diligence and EIOPA, shall monitor the functioning of ESAP based on at least the qualitative and quantitative indicators laid down in paragraph 2, and shall publish an annual report about the functioning of ESAP.

Amendment 61 #

Proposal for a regulation
Article 12 – paragraph 1 a (new)

1 a. ESMA shall organise a public consultation every year for users to provide feedback on the functioning of ESAP, including suggestions to improve accessibility and readability of information for users.

Amendment 62 #

Proposal for a regulation
Article 12 – paragraph 1 b (new)

1 b. ESMA shall include recommandations to improve the functioning and functionalities of ESAP in its annual report and assess the implementation of recommandations previously made.

Amendment 63 #

Proposal for a regulation
Article 12 – paragraph 2 – point a

(a) the number of visitors, including unique visitors and searches;

Amendment 64 #

Proposal for a regulation
Article 12 – paragraph 3 a (new)

3 a. ESMA shall conduct regular ongoing consultations with relevant stakeholders from civil society and social partners on the functioning of ESAP.

source: 737.253

2022/10/19 LIBE 50 amendments...

Amendment 13 #

Proposal for a regulation
Recital 2

(2) Easy access to data is important in order for decision makers in the economy and society to make sound decisions that serve the efficient functioning of the market. Rolling out common European data spaces in crucial sectors, including the financial sector, would serve that purpose. The financial sector is undergoing a digital transformation, which is expected to continue in the coming years, and the Union should support that transformation, in particular by promoting data-driven finance. Furthermore, putting sustainable finance at the heart of the financial system is a key means to achieving a green transition of the economy of the Union. For the green transition to succeed through sustainable finance, it is essential that information related to the sustainability of businesses is easily accessible to investors so that they are better informed when making decisions about investments. For those purposes, public access to entities’ information such as companies, businesses, financial institutions, financial and non-financial information needs to be improved. An efficient means to do so at Union level is to establish a centralised platform, a European single access point (“ESAP”), giving electronic access to all relevant information.deleted

Amendment 14 #

(2) Easy and structured access to data is important in order for decision makers in the economy and society to make sound informed, and environmentally and socially responsible investment decisions that serve the efficient functioning of the market. Rolling out common European data spaces in crucial sectors, including the financial sector, would serve that purpose. The financial sector is undergoing a digital transformation, which is expected to continue in the coming years, and the Union should support that transformation, in particular by promoting data-driven finance. Furthermore, putting sustainable finance at the heart of the financial system is a key means to achieving a green transition of the economy of the Union. For the green transition to succeed through sustainable finance, it is essential that information related to the sustainability of businesses is easily accessible to investors so that they are better informed when making decisions about investments. For those purposes, public access to entities’ information such as companies, businesses, financial institutions, financial and non- financial information needs to be improved. An efficient means to do so at Union level is to establish a centralised platform, a European single access point (“ESAP”), giving electronic access to all relevant information.

Amendment 15 #

Proposal for a regulation
Recital 2 a (new)

(2 a) As new legislative acts are currently under negotiation or at the point of completion, but are not listed in the Annex of this regulation, the Commission should be empowered to update the Annex to add newly adopted legislation related to the provision of financial services, capital markets and sustainability.

Amendment 16 #

Proposal for a regulation
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. SMicro, 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 Union 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. Pursuant to the principles of data minimisation, accuracy, and data protection-by-design and by default 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 . Entities submitting information to ESAP should remain responsible for the accuracy and reliability of such information. _________________ 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 17 #

Proposal for a regulation
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. Pursuant to the principle of data minimisation, entities should ensure that no personal data are included, except where those data cannot be anonymised and 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 18 #

Proposal for a regulation
Recital 6

(6) The objective of the European Securities and Markets Authority (ESMA) is to protect the public interest by contributing to the stability and effectiveness of the financial system for the Union economy, its citizens and businesses. In that context, ESMA is to contribute in particular to ensure the integrity, transparency, efficiency and orderly functioning of financial markets. It has, amongst others, the task to improve investor protection. Because of those reasons, ESMA should be given the task of establishing ~~and operat~~, operating and controlling ESAP.

Amendment 19 #

Proposal for a regulation
Recital 10

(10) Re-using information that is available on ESAP can improve the functioning of the internal market and promote the development of new services that combine and make use of such information. It is therefore necessary, where justified on grounds of a public interest objective, to allow re-use of the information that is available on ESAP for purposes other than the purposes for which the information was drawn up. However, the use and re-use of that information should be subject to objective, proportionate and non-discriminatory conditions. For that purpose, conditions corresponding to those laid down in open, standard licences within the meaning of Directive (EU) 2019/1024 of the European Parliament and of the Council27 should apply. The licensing terms of those standard licences should allow for data and content to be freely accessible, used, modified and shared by anyone for any purpose. ESMA should bear no liability for the ~~use and~~ re-use of information accessible on ESAP. The submission of information by the collection bodies should either not be subject to conditions or be subject to an open standard licence enabling the licensing terms applying for information accessible in the ESAP. _________________ 27 Directive (EU) 2019/1024 of the European Parliament and of the Council of 20 June 2019 on open data and the re-use of public sector information (OJ L 172, 26.6.2019, p. 56).

Amendment 20 #

Proposal for a regulation
Recital 13

(13) To promote data-driven innovation in finance, help integrate capital markets in the European Union, channel investments into sustainable activities, and bring efficiencies for consumers and businesses, ESAP should improve access to information that include personal data. ESAP should, however, only improve access to those personal data that have to be processed pursuant to Union law, or that are processed voluntarily provided that there is a lawful ground for such processing pursuant to Regulation (EU) 2016/679 of the European Parliament and of the Council. For any processing of personal data in the context of providing information via ESAP, the collection bodies, and ESMA in its capacity as operator of ESAP and when performing its role of data processor and data controller, should ensure that Regulation (EU) 2016/679 and Regulation (EU) 2018/1725 of the European Parliament and of the Council28 are complied with. As regards the publication of information concerning administrative measures and other penalties, which may also include information concerning criminal convictions and offences within the meaning of Article 10 of Regulation (EU) 2016/67928a , and Article 11 of Regulation (EU) 2018/172528b, the processing of such data should be carried out only under control of a competent official authority, or when the processing is authorised by Union law providing for appropriate safeguards for the rights and freedoms of data subjects. _________________ 28 Regulation (EU) 2018/1725 of the European Parliament and of the Council of 23 October 2018 on the protection of natural persons with regard to the processing of personal data by the Union institutions, bodies, offices and agencies and on the free movement of such data, and repealing Regulation (EC) No 45/2001 and Decision No 1247/2002/EC (OJ L 295, 21.11.2018, p. 39). 28a 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). 28b Regulation (EU) 2018/1725 of the European Parliament and of the Council of 23 October 2018 on the protection of natural persons with regard to the processing of personal data by the Union institutions, bodies, offices and agencies and on the free movement of such data, and repealing Regulation (EC) No 45/2001 and Decision No 1247/2002/EC (OJ L 295, 21.11.2018, p. 39)

Amendment 21 #

Proposal for a regulation
Recital 13

Amendment 22 #

Proposal for a regulation
Recital 14

(14) The European Data Protection Supervisor was consulted in accordance with Article 42(1) of Regulation (EU) 2018/1725 and delivered an opinion on ~~[insert date]~~19 January 2022.

Amendment 23 #

Proposal for a regulation
Recital 16

Amendment 24 #

Proposal for a regulation
Recital 16 a (new)

(16 a) For the purposes of ensuring high quality and accuracy of data to be published on ESAP, ESMA should be allowed to pre-screen information provided by entities in order to validate the accuracy and format of the data provided before it is published on ESAP.

Amendment 25 #

Proposal for a regulation
Article 1 – paragraph 1 – point a a (new)

(a a) The Commission is empowered to adopt delegated acts to amend the Annexes in order to update the list of legislative acts at the moment any new relevant legislative act enters into force.

Amendment 26 #

Proposal for a regulation
Article 1 – paragraph 2

~~2. ESAP shall not provide access to information submitted before 1 January 2024.~~deleted

Amendment 27 #

Proposal for a regulation
Article 2 – paragraph 1 – point 2 a (new)

(2 a) ‘personal data’ means personal data as defined in Article 4, point (1), of Regulation(EU) 2016/679;

Amendment 28 #

Proposal for a regulation
Article 2 – paragraph 1 – point 7 a (new)

(7 a) 'personal data' means personal data as defined in Article 4 Paragraph 1 of Regulation (EU) 2016/679

Amendment 29 #

Proposal for a regulation
Article 2 – paragraph 1 – point 7 a (new)

(7 a) 'personal data' means data as defined in Article 4, point 1 of Regulation (EU) 2016/279;

Amendment 30 #

Proposal for a regulation
Article 2 – paragraph 1 – point 7 a (new)

(7 a) 'personal data' as referred to in Article 4 (1) of Regulation (EU) 2016/679

Amendment 31 #

Proposal for a regulation
Article 2 – paragraph 1 – point 7 b (new)

(7 b) 'processor' as referred to in Article 3 paragraph 12 Regulation 2018/1725

Amendment 32 #

Proposal for a regulation
Article 3 – paragraph 1 – introductory part

1. Any natural or legal person acting as a market participant may submit to a collection body the information referred to in Article 1(1), point (b) to make that information accessible on ESAP. When submitting that information, the natural or legal person shall:

Amendment 33 #

Proposal for a regulation
Article 3 – paragraph 1 – point c a (new)

(c a) where possible, ensure that any voluntarily submitted information is submitted in the format provided in existing templates related to the relevant legislative act;

Amendment 34 #

Proposal for a regulation
Article 3 – paragraph 1 – point d

(d) ensure that no personal data are included, except where the personal data constitute a necessary element of the information about its economic activities., in line with the principle of data minimisation

Amendment 35 #

Proposal for a regulation
Article 3 – paragraph 1 – point d

(d) ensure that no personal data are included, except where the personal data constitute a necessary element of the information about its economic activities that cannot be anonymised.

Amendment 36 #

Proposal for a regulation
Article 3 – paragraph 1 – point d a (new)

(d a) anonymise personal data submitted to collection bodies, whenever possible.

Amendment 37 #

Proposal for a regulation
Article 3 – paragraph 2 – point c a (new)

(c a) standards for the automatic identification of personal data

Amendment 38 #

Proposal for a regulation
Article 3 – paragraph 2 – point c b (new)

(c b) the cases under which personal data can be include in voluntary submissions

Amendment 39 #

Proposal for a regulation
Article 3 – paragraph 2 – subparagraph 1

The Joint Committee of the European Supervisory Authorities shall submit those draft implementing technical standards to the Commission by [PO: please insert t~~hree~~wo years after entry into force].

Amendment 40 #

Proposal for a regulation
Article 3 – paragraph 3

3. Where the information referred to in paragraph 1 contains personal data, entities shall ensure that the processing relies on one of the lawful grounds of processing listed in Article 6(1) of Regulation (EU) 2016/679 of the European Parliament and of the Council. In particular, consent cannot be considered as a legal basis to submit information containing personal. This Regulation does not create a legal basis for the processing of personal data by those entities.

Amendment 41 #

Proposal for a regulation
Article 5 – paragraph 1 – point f – introductory part

(f) ensure that the information referred to in Article 1(1) remains available to ESAP for at least 10 years, unless stated otherwise in the legal acts referred to in Article 1(1), point (a). Personal data in the information submitted pursuant to Article 1(1) shall not be retained and made available for longer than necessary and in any event not for longer than 5 years, unless stated otherwise in the legal acts referred to in Article 1(1), point (a).

Amendment 42 #

Proposal for a regulation
Article 5 – paragraph 1 – point f – introductory part

(f) ensure that the information referred to in Article 1(1) remains available to ESAP for at least 10 years, unless stated otherwise in the legal acts referred to in Article 1(1), point (a). Personal data in the information submitted pursuant to Article 1(1) shall not be retained ~~and~~for longer than necessary and in any event it shall be not made available for longer than 5 years, unless stated otherwise in the legal acts referred to in Article 1(1), point (a).

Amendment 43 #

Proposal for a regulation
Article 5 – paragraph 1 – point f – introductory part

(f) ensure that the information referred to in Article 1(1) remains available to ESAP for at least 10 years, unless stated otherwise in the legal acts referred to in Article 1(1), point (a). Personal data in the information submitted pursuant to Article 1(1) shall not be retained ~~and~~for longer than necessary and in any case not be made available for longer than 5 years, unless stated otherwise in the legal acts referred to in Article 1(1), point (a).

Amendment 44 #

Proposal for a regulation
Article 5 – paragraph 4

4. Entities shall ensure the quality, completeness, reliability, and accuracy of the information they submit to the collection bodies.

Amendment 45 #

Proposal for a regulation
Article 5 – paragraph 4 a (new)

4 a. Collection bodies shall verify that conditions for submitting personal data as set out in Articles 3(1), point d, and 3 (3) are met.

Amendment 46 #

Proposal for a regulation
Article 6 – paragraph 1

ESMA shall put in place an effective and proportionate IT security policy for ESAP and shall ensure appropriate levels of authenticity, availability, integrity and non- repudiation of the information made accessible on ESAP and of the protection of personal data. ESMA shall carry out periodic reviews of the IT security policy and the cybersecurity situation of ESAP in consideration of evolving European and international cybersecurity trends and latest developments.

Amendment 47 #

Proposal for a regulation
Article 7 – paragraph 1 – point a

(a) a web portal with a user-friendly interface taking account of special access needs of individuals with disabilities, in all the official languages of the Union to provide access to the information in ESAP;

Amendment 48 #

Proposal for a regulation
Article 7 – paragraph 1 a (new)

1 a. ESMA shall put in place appropriate technical and organisational measures to avoid excessive disclosure of personal data via the download service referred to in paragraph 1, point f of this article.

Amendment 49 #

Proposal for a regulation
Article 7 – paragraph 2

2. ESMA shall ensure that ESAP provides for the functionalities referred to in paragraph 1, points (e) and (g) by 31 December 2025. ESMA shall introduce appropriate technical and organisational measures to avoid excessive disclosure of personal data via the download service and the API. Additional safeguards shall be provided by ESMA where the disclosure of personal data via the download service and the API concerns personal data of a particularly sensitive nature, such as information concerning administrative measures or other penalties regarding natural persons. Such safeguards shall be specified by the Commission by way of an implementing act.

Amendment 50 #

Proposal for a regulation
Article 8 – paragraph 1

1. In order to promote transparency and the smooth functioning of European capital markets, ESMA shall ensure that access to ESAP is provided without discrimination.

Amendment 51 #

Proposal for a regulation
Article 8 – paragraph 3 – point e a (new)

(e a) News organisations and non- governmental organisations insofar as access to the data is necessary in the performance of their work.

Amendment 52 #

Proposal for a regulation
Article 8 – paragraph 4 – introductory part

Amendment 53 #

Proposal for a regulation
Article 9 – paragraph 1 – subparagraph 1 (new)

The use and re-use of personal data accessible on ESAP shall occur in full compliance with Union legislation on data protection, and in particular respect the principles of lawfulness, fairness, transparency, purpose limitation, data minimisation, accuracy, storage limitation, integrity and confidentiality. Any processing of personal data accessible on ESAP for a purpose other than that for which the personal data have been collected may only take place in accordance with the requirements of Article 6, paragraph 4 of Regulation (EU)No 2016/679.

Amendment 54 #

Proposal for a regulation
Article 9 – paragraph 1 a (new)

Personal data from the European Single Access Point shall be used or re-used in line with Regulation (EU) 2016/679 and such personal data shall not be retained for longer than necessary and in any case not for longer than 5 years, unless stated otherwise in the legal acts referred to in Article 1(1), point (a).

Amendment 55 #

Proposal for a regulation
Article 10 – paragraph 1

1. ESMA shall perform ~~automated~~ validations, where possible in an automated manner, to verify compliance of the information submitted by the collection bodies with the requirements laid down in Article 5(1), point (b).

Amendment 56 #

Proposal for a regulation
Article 10 – paragraph 1 a (new)

1 a. ESMA shall be empowered to screen the data provided by entities in order to ensure the accuracy of the information provided. In the case of incorrect or inaccurate data, ESMA shall follow the procedure as laid out in paragraph 2 of this Article.

Amendment 57 #

Proposal for a regulation
Article 11 – paragraph 1 – point e a (new)

(e a) act as controller of the ESAP, holding the responsibilities outlined in Articles 24-27 of Regulation (EU) 2016/679.

Amendment 58 #

Proposal for a regulation
Article 11 – paragraph 3

3. ESMA shall not store information containing personal data except for automatic, intermediate and transient processing, including storage of that information insofar as strictly necessary for the purpose of giving access to information provided by the collection bodies. ESMA shall also take appropriate technical and organisational measures to ensure that the information is not retained or made available for longer period that the one provided for in point (f) of article 5(1) of the Proposal.

Amendment 59 #

Proposal for a regulation
Article 11 – paragraph 3 a (new)

3 a. ESMA shall act as the 'processor' as regards the data processed in ESAP.

Amendment 60 #

Proposal for a regulation
Article 13 – paragraph 1

By [PO, please insert a date 5 years after the entry into force of this Regulation], the Commission shall review the functioning of ESAP and assess its effectiveness. The review shall be accompanied by an overview of existing data-gaps in the EU and a strategy to address them. The review shall also include an assessment of the impact of this Regulation on the market position of private data providers in the EU. The Commission shall report to the European Parliament and to the Council on the results of this review.

Amendment 61 #

Proposal for a regulation
Annex I – Part A – point 21 a (new)

21 a. Regulation XXX on European green bonds

Amendment 62 #

Proposal for a regulation
Annex I – Part A – point 21 b (new)

21 b. Regulation (EU) 2017/2402 laying down a general framework for securitisation and creating a specific framework for simple, transparent and standardised securitisation.1a _________________ 1a Regulation (EU) 2017/2402 of the European Parliament and of the Council of 12 December 2017 laying down a general framework for securitisation and creating a specific framework for simple, transparent and standardised securitisation, and amending Directives 2009/65/EC, 2009/138/EC and 2011/61/EU and Regulations (EC) No 1060/2009 and (EU) No 648/2012

source: 737.388

2022/11/11 ECON 165 amendments...

Amendment 100 #

Proposal for a regulation
Recital 12

(12) ESAP should provide users with access to information for free and without discrimination and should make it possible for those users to search, access and download the information through ESAP. However, taking into account the need to protect ESMA from an excessive financial burden in relation to costs incurred for serving the needs of intensive users, if any, ESMA should have the ability to generate revenues. Therefore, by way of derogation from the principle that information should be accessible free of charge, ESMA should be allowed to impose fees for those specific services, including for services with high maintenance costs due to searches for very large volumes of information or to frequent access to ESAP. Any fees imposed should, however, not exceed the cost of the service provided.

Amendment 101 #

Billy KELLEHER, Pascal DURAND, Stéphanie YON-COURTIN, Gilles BOYER, Caroline NAGTEGAAL

Proposal for a regulation
Recital 12

(12) ESAP should provide users with access to information for free and without discrimination and should make it possible for those users to search, access and download the information through ESAP. However, taking into account the need to protect ESMA from an excessive financial burden in relation to costs incurred for serving the needs of intensive users, if any, ESMA should have the ability to generate revenues. Therefore, by way of derogation from the principle that information should be accessible free of charge, ESMA should be allowed to impose fees exclusively to commercial users for those specific services, including for services with high maintenance or support costs due to searches for very large volumes of information or to frequent access to ESAP. Any fees imposed should, however, ~~not exceed the cost of the service provided~~be kept to the minimum level and, in any case, not exceed the cost of the service provided. The subsequent revenues should be allocated to contributing to the overall functioning of ESAP. Retail investors, academia, social partners and civil society organisations should not be subject to any fees.

Amendment 102 #

Proposal for a regulation
Recital 12

(12) ESAP should provide users with access to information for free and without discrimination and should make it possible for those users to search, access and download the information through ESAP. However, taking into account the need to protect ESMA from an excessive financial burden in relation to costs incurred for serving the needs of intensive users, if any, ESMA should have the ability to generate revenues. Therefore, by way of derogation from the principle that information should be accessible free of charge, ESMA should be allowed to impose fees for those specific services, including for services with high maintenance costs due to searches for and downloads of very large volumes of information or to frequent access to ESAP. Public bodies, academic institutions, and civil society organisations should not be subject to fees. The calculation of fees should be transparent and based on clear principles. Any fees imposed should, however, not exceed the cost of the service provided.

Amendment 103 #

Pascal DURAND

Proposal for a regulation
Recital 12

(12) ESAP should provide users with access to information for free and without discrimination and should make it possible for those users to search, access and download the information through ESAP. However, taking into account the need to protect ESMA from an excessive financial burden in relation to costs incurred for serving the needs of intensive users, if any, ESMA should have the ability to generate revenues. Therefore, ~~by way of derogation from the principle that information should be accessible free of charge,~~ ESMA should be allowed to impose fees for those specific services, including for services with high maintenance costs due to searches for very large volumes of information or to frequent access to ESAP. Any fees imposed should, however, not exceed the cost of the service provided. Entities responding to at least one of the overriding reasons in the public interest as defined in Directive (EU) 2018/958 of the European Parliament and of the Council should always be exempted from such fees.

Amendment 104 #

Proposal for a regulation
Recital 12

(12) ESAP should provide users with access to information for free and without discrimination and should make it possible for those users to search, access and download the information through ESAP. However, taking into account the need to protect ESMA from an excessive financial burden in relation to costs incurred for serving the needs of intensive users, if any, ESMA should have the ability to generate revenues. Therefore, by way of derogation from the principle that information should be accessible free of charge, ESMA should be allowed to impose fees for those specific services, including for services with high maintenance costs due to searches for very large volumes of information or to frequent access to ESAP and where those services are for commercial re-use of data. Any fees imposed should, however, not exceed the cost of the service provided.

Amendment 105 #

Proposal for a regulation
Recital 12

(12) ESAP should provide users with access to information for free and without discrimination and should make it possible for those users to search, access and download the information through ESAP. However, taking into account the need to protect ESMA from an excessive financial burden in relation to costs incurred for serving the needs of intensive users, if any, ESMA should have the ability to generate revenues. Therefore, by way of derogation from the principle that information should be accessible free of charge, ESMA should be allowed to impose fees for those specific services, including for services with high maintenance costs due to searches for very large volumes of information or to frequent access to ESAP. Any fees imposed should, however, not exceed the cost of the service provided. Any fees imposed should, however, not exceed the cost of the service provided and should not apply to entities which make use of information provided by ESAP to fulfil regulatory obligations or for educational purposes.

Amendment 106 #

Pedro SILVA PEREIRA

Proposal for a regulation
Recital 13

(13) To promote data-driven innovation in finance, help integrate capital markets in the European Union, channel investments into sustainable activities, and bring efficiencies for consumers and businesses, ESAP should improve access to information that include personal data. ESAP should, however, only improve access to those personal data that have to be processed pursuant to Union law, or that are processed voluntarily provided that there is a lawful ground for such processing pursuant to Regulation (EU) 2016/679 of the European Parliament and of the Council. For any processing of personal data in the context of providing information via ESAP, the collection bodies, and ESMA in its capacity as operator of ESAP, should ensure that Regulation (EU) 2016/679 and Regulation (EU) 2018/1725 of the European Parliament and of the Council28 are complied with. Submitting entities should be responsible for the processing of personal data on the basis of one of the lawful grounds for processing listed in Article 6, point (1) of Regulation (EU) 2016/679 of the European Parliament and of the Council and for identifying the presence of personal data in the information. Information accompanied by a metadata identifying that it contains personal data should not be retained by collection bodies or ESAP for longer than necessary and in any event for no longer than 5 years, unless otherwise stated in the legal acts in the scope of ESAP. _________________ 28 Regulation (EU) 2018/1725 of the European Parliament and of the Council of 23 October 2018 on the protection of natural persons with regard to the processing of personal data by the Union institutions, bodies, offices and agencies and on the free movement of such data, and repealing Regulation (EC) No 45/2001 and Decision No 1247/2002/EC (OJ L 295, 21.11.2018, p. 39).

Amendment 107 #

Proposal for a regulation
Recital 15

(15) In order to build and maintain public trust in ESAP and to protect each entity from undue alteration of its information, ESAP should ensure data integrity and credibility of the source of the information submitted to the collection bodies. Therefore, information submitted by the entities should include a qualified electronic seal attached to the information submitted as defined in Article 3(20), of Regulation (EU) No 910/2014 of the European Parliament and of the Council29 . A specific legal entity identifier ~~may~~(LEI) should be a mandatory attribute of that certificate~~. That seal or signature acquired by ESAP should be made available to users~~ across the Union, ranking above any other generic identifier for the entities concerned by various Union directives and regulations, since this would facilitate not only the identification of these entities but also the accuracy, searchability, retrieval, use and interoperability of the information provided to ESAP. That seal or signature acquired by ESAP should be made available to users. In the absence of a LEI, alternative means of efficiently ensuring a unique identification of the entities concerned should be defined, such as a reference to a set of national and industry identifiers commonly used, and thus widely available in the Member States, that is published and maintained by the ECB. _________________ 29 Regulation (EU) No 910/2014 of the European Parliament and of the Council of 23 July 2014 on electronic identification and trust services for electronic transactions in the internal market and repealing Directive 1999/93/EC (OJ L 257, 28.8.2014, p. 73).

Amendment 108 #

Billy KELLEHER, Pascal DURAND, Stéphanie YON-COURTIN, Gilles BOYER, Caroline NAGTEGAAL

Proposal for a regulation
Recital 15

Amendment 109 #

Proposal for a regulation
Recital 15

Amendment 110 #

Proposal for a regulation
Recital 15

Amendment 111 #

Proposal for a regulation
Recital 16

(16) In order for the information to be comparable over time, users should have access to past information. It is therefore necessary to require ESAP to provide access to information for a reasonable period of time, to the extent compatible with other applicable provisions of Union law. For that purpose, ESMA should ensure that no personal data are made accessible for longer than necessary as provided for under Union law. In order to en~~able ESMA and the collection bodies to prepare the operation of ESAP, ESAP should only provide access to the information submitted as from 1 January 2024.~~ hance the operation of ESAP, ESAP should also provide access to the information submitted before 1 January 2024, when available. Moreover, ESAP should start collecting information and historical data released prior to its establishment, regarding financial and sustainability-related data that have already been collected and published for several years before its establishment and could provide useful information to investors and authorities interested in analysing trends and developments in financial and sustainability-related data.

Amendment 112 #

Proposal for a regulation
Recital 16

Amendment 113 #

Billy KELLEHER, Pascal DURAND, Stéphanie YON-COURTIN, Gilles BOYER, Caroline NAGTEGAAL

Proposal for a regulation
Recital 16

Amendment 114 #

Proposal for a regulation
Recital 17

(17) To ensure a smooth processing of the information received or drawn-up by the collection bodies and made available to ESAP, it is necessary to lay down certain clear and detailed requirements specifying the format and the metadata of that information and which collection bodies should collect such information. In order to ensure the quality of the information submitted to ESAP by the collection bodies, it is also necessary to define the characteristics of the automated validations to be carried out on each information reaching the collection bodies, and the characteristics of the qualified electronic seal to be attached to that information by the entities. To ensure the use and re-use of data on ESAP, a list of the designated open standard licences would need to be defined. To facilitate the searching, finding, retrieving of the data in a timely manner, the characteristics of the application programming interface and the metadata to be implemented will also need to be designed. Additional requirements as regards efficient search functions will need to be implemented such as the specific legal entity identifier, the classification of the type of information, and the categories of the size of the entities. To that purpose, the Joint Committee of the European Supervisory Authorities should develop draft implementing technical standards. ~~Additionally, ESMA might develop draft implementing technical standards to determine the nature and extent of the specific services for which fees may be charged and the associated fee structure~~In respect of standards concerning sustainability information, the Joint Committee of the European Supervisory Authorities should consult the European Financial Reporting Advisory Group (EFRAG) on the development of these draft implementing standards, in particular on standards defining requirements for the accessibility formats of sustainability information. All standards should seek to make ESAP future-proof and consider potential interoperability at a global level in the future, thus should draw upon global standards and best practices where relevant. Additionally, ESMA might develop draft implementing technical standards to determine the nature and extent of the specific services for which fees may be charged and the associated fee structure. To ensure full transparency of the cases when fees may be charged, ESMA should make public and easily available on ESAP the thresholds of volumes of information and the frequencies above which those fees apply. The Commission should be empowered to adopt those implementing technical standards by means of implementing acts pursuant to Article 291 TFEU and in accordance with Article 15 of Regulation (EU) No 1093/2010 of the European Parliament and of the Council30 , No 1094/2010 of the European Parliament and of the Council31 and No 1095/2010 of the European Parliament and of the Council32 . _________________ 30 Regulation (EU) No 1093/2010 of the European Parliament and of the Council of 24 November 2010 establishing a European Supervisory Authority (European Banking Authority), amending Decision No 716/2009/EC and repealing Commission Decision 2009/78/EC (OJ L 331, 15.12.2010, p. 12). 31 Regulation (EU) No 1094/2010 of the European Parliament and of the Council of 24 November 2010 establishing a European Supervisory Authority (European Insurance and Occupational Pensions Authority), amending Decision No 716/2009/EC and repealing Commission Decision 2009/79/EC (OJ L 331, 15.12.2010, p. 48). 32 Regulation (EU) No 1095/2010 of the European Parliament and of the Council of 24 November 2010 establishing a European Supervisory Authority (European Securities and Markets Authority), amending Decision No 716/2009/EC and repealing Commission Decision 2009/77/EC (OJ L 331, 15.12.2010, p. 84).

Amendment 115 #

Proposal for a regulation
Recital 17

(17) To ensure a smooth processing of the information received or drawn-up by the collection bodies and made available to ESAP, it is necessary to lay down certain requirements specifying the format and the metadata of that information and which collection bodies should collect such information. In order to ensure the quality of the information submitted to ESAP by the collection bodies, it is also necessary to define the characteristics of the automated validations to be carried out on each information reaching the collection bodies, and the characteristics of the qualified electronic seal to be attached to that information by the entities. To ensure the use and re-use of data on ESAP, a list of the designated open standard licences would need to be defined. To facilitate the searching, finding, retrieving of the data in a timely manner, the characteristics of the application programming interface and the metadata to be implemented will also need to be designed. Additional requirements as regards efficient search functions will need to be implemented such as the specific legal entity identifier, the classification of the type of information, and the categories of the size of the entities. To that purpose, the Joint Committee of the European Supervisory Authorities should develop draft implementing technical standards. ~~Additionally, ESMA might develop draft implementing technical standards to determine the nature and extent of the specific services for which fees may be charged and the associated fee structure.~~ The Commission should be empowered to adopt those implementing technical standards by means of implementing acts pursuant to Article 291 TFEU and in accordance with Article 15 of Regulation (EU) No 1093/2010 of the European Parliament and of the Council30 , No 1094/2010 of the European Parliament and of the Council31 and No 1095/2010 of the European Parliament and of the Council32 . _________________ 30 Regulation (EU) No 1093/2010 of the European Parliament and of the Council of 24 November 2010 establishing a European Supervisory Authority (European Banking Authority), amending Decision No 716/2009/EC and repealing Commission Decision 2009/78/EC (OJ L 331, 15.12.2010, p. 12). 31 Regulation (EU) No 1094/2010 of the European Parliament and of the Council of 24 November 2010 establishing a European Supervisory Authority (European Insurance and Occupational Pensions Authority), amending Decision No 716/2009/EC and repealing Commission Decision 2009/79/EC (OJ L 331, 15.12.2010, p. 48). 32 Regulation (EU) No 1095/2010 of the European Parliament and of the Council of 24 November 2010 establishing a European Supervisory Authority (European Securities and Markets Authority), amending Decision No 716/2009/EC and repealing Commission Decision 2009/77/EC (OJ L 331, 15.12.2010, p. 84).

Amendment 116 #

Proposal for a regulation
Recital 17

(17) To ensure a smooth processing of the information received or drawn-up by the collection bodies and made available to ESAP, it is necessary to lay down certain requirements specifying the format and the metadata of that information and which collection bodies should collect such information. In order to ensure the quality of the information submitted to ESAP by the collection bodies, it is also necessary to define the characteristics of the automated validations to be carried out on each information reaching the collection bodies, and the characteristics of the qualified electronic seal to be attached to that information by the entities. To ensure the use and re-use of data on ESAP, a list of the designated open standard licences would need to be defined. To facilitate the searching, finding, retrieving of the data in a timely manner, the characteristics of the application programming interface and the metadata to be implemented will also need to be designed. Additional requirements as regards efficient search functions will need to be implemented such as the specific legal entity identifier, the classification of the type of information, and the categories of the size of the entities. To that purpose, the Joint Committee of the European Supervisory Authorities should develop draft implementing technical standards. Additionally, ESMA might develop draft implementing technical standards to determine the nature and extent of the specific services for which fees may be charged to commercial users and the associated fee structure. The Commission should be empowered to adopt those implementing technical standards by means of implementing acts pursuant to Article 291 TFEU and in accordance with Article 15 of Regulation (EU) No 1093/2010 of the European Parliament and of the Council30 , No 1094/2010 of the European Parliament and of the Council31 and No 1095/2010 of the European Parliament and of the Council32 . _________________ 30 Regulation (EU) No 1093/2010 of the European Parliament and of the Council of 24 November 2010 establishing a European Supervisory Authority (European Banking Authority), amending Decision No 716/2009/EC and repealing Commission Decision 2009/78/EC (OJ L 331, 15.12.2010, p. 12). 31 Regulation (EU) No 1094/2010 of the European Parliament and of the Council of 24 November 2010 establishing a European Supervisory Authority (European Insurance and Occupational Pensions Authority), amending Decision No 716/2009/EC and repealing Commission Decision 2009/79/EC (OJ L 331, 15.12.2010, p. 48). 32 Regulation (EU) No 1095/2010 of the European Parliament and of the Council of 24 November 2010 establishing a European Supervisory Authority (European Securities and Markets Authority), amending Decision No 716/2009/EC and repealing Commission Decision 2009/77/EC (OJ L 331, 15.12.2010, p. 84).

Amendment 117 #

Proposal for a regulation
Recital 17

(17) To ensure a smooth processing of the information received or drawn-up by the collection bodies and made available to ESAP, it is necessary to lay down certain requirements specifying the format and the metadata of that information and which collection bodies should collect such information. In order to ensure the quality and comparability of the information submitted to ESAP by the collection bodies, it is also necessary to define the characteristics of the automated validations to be carried out on each information reaching the collection bodies~~, and the characteristics of the qualified electronic seal to be attached to that information by the entities~~. To ensure the use and re-use of data on ESAP, a list of the designated open standard licences would need to be defined. To facilitate the searching, finding, retrieving of the data in a timely manner, the characteristics of the application programming interface and the metadata to be implemented will also need to be designed. Additional requirements as regards efficient search functions will need to be implemented such as the specific legal entity identifier, the classification of the type of information, and the categories of the size of the entities. To that purpose, the Joint Committee of the European Supervisory Authorities should develop draft implementing technical standards to allow for global, interoperable and machine-readable access and a strong governance standard. Additionally, ESMA might develop draft implementing technical standards to determine the circumstances, nature and extent of the specific services for which fees may be charged and the associated fee structure. The Commission should be empowered to adopt those implementing technical standards by means of implementing acts pursuant to Article 291 TFEU and in accordance with Article 15 of Regulation (EU) No 1093/2010 of the European Parliament and of the Council30 , No 1094/2010 of the European Parliament and of the Council31 and No 1095/2010 of the European Parliament and of the Council32 . _________________ 30 Regulation (EU) No 1093/2010 of the European Parliament and of the Council of 24 November 2010 establishing a European Supervisory Authority (European Banking Authority), amending Decision No 716/2009/EC and repealing Commission Decision 2009/78/EC (OJ L 331, 15.12.2010, p. 12). 31 Regulation (EU) No 1094/2010 of the European Parliament and of the Council of 24 November 2010 establishing a European Supervisory Authority (European Insurance and Occupational Pensions Authority), amending Decision No 716/2009/EC and repealing Commission Decision 2009/79/EC (OJ L 331, 15.12.2010, p. 48). 32 Regulation (EU) No 1095/2010 of the European Parliament and of the Council of 24 November 2010 establishing a European Supervisory Authority (European Securities and Markets Authority), amending Decision No 716/2009/EC and repealing Commission Decision 2009/77/EC (OJ L 331, 15.12.2010, p. 84).

Amendment 118 #

Proposal for a regulation
Recital 17 a (new)

(17 a) To ensure optimal functioning of ESAP, ESMA should establish an ESAP advisory group composed of experts and relevant stakeholders, including civil society and social partners, to advise and support ESMA in the implementation, improvement and enhancement of ESAP.

Amendment 119 #

Proposal for a regulation
Recital 17 b (new)

(17 b) Proper working conditions for employees responsible for providing and managing data should be ensured in accordance with the relevant national and EU legislation.

Amendment 120 #

Proposal for a regulation
Recital 18 a (new)

(18 a) Implementation of ESAP should be funded entirely from the EU budget until December 2027. Further funding after this date should be negotiated in the context of the next Multiannual Financial Framework.

Amendment 121 #

Proposal for a regulation
Recital 18 a (new)

(18 a) This regulation aims to bundle information originating from existing disclosure regimes. To avoid additional burdens, the ESAP should not create any additional reporting or disclosure obligations.

Amendment 122 #

Proposal for a regulation
Article 1 – paragraph 1 – introductory part

1. By 31 December 20245, the European Securities and Markets Authority (ESMA) shall establish and operate a European single access point (“ESAP”) providing centralised electronic access to the following information:

Amendment 123 #

Johan VAN OVERTVELDT, Johan NISSINEN, Michiel HOOGEVEEN

Proposal for a regulation
Article 1 – paragraph 1 – introductory part

Amendment 124 #

Proposal for a regulation
Article 1 – paragraph 1 – point b

(b) other information of relevance to financial services provided in the Union or to capital markets of the Union or concerning sustainability that any entit~~ies~~y governed by the law of a Member State wishes to make accessible on ESAP on a voluntary basis about their economic activities in accordance with Article 3(1) and pursuant to the material reporting requirements listed in the Omnibus Act .

Amendment 125 #

Proposal for a regulation
Article 1 – paragraph 2

2. When available, ESAP shall ~~not~~ provide access to information submitted before 1 January 2024. ESAP shall also start collecting information and historical data released prior to its establishment, regarding financial and sustainability- related data.

Amendment 126 #

Proposal for a regulation
Article 1 – paragraph 2

2. If available, ESAP shall ~~not~~ provide access to information submitted before 1 January 2024.

Amendment 127 #

Proposal for a regulation
Article 1 – paragraph 2

2. ESAP shall not provide access to information submitted before 1 January 20245.

Amendment 128 #

Billy KELLEHER, Pascal DURAND, Stéphanie YON-COURTIN, Gilles BOYER, Caroline NAGTEGAAL

Proposal for a regulation
Article 1 – paragraph 2

2. ESAP shall not provide access to information submitted before 1 January 20245.

Amendment 129 #

Proposal for a regulation
Article 2 – paragraph 1 – point 7

(7) ‘metadata’ means structured information that makes it easier to retrieve, use, contextualise or manage an information resource, including by describing, explaining, or locating that information resource.

Amendment 130 #

Johan VAN OVERTVELDT, Johan NISSINEN, Michiel HOOGEVEEN

Proposal for a regulation
Article 2 – paragraph 1 – point 7 a (new)

(7 a) 'personal data' means personal data as defined in Article 4 paragraph 1 of Regulation (EU) 2016/679

Amendment 131 #

Proposal for a regulation
Article 3 – paragraph 1 – introductory part

1. Any natural or legal person may submit to a collection body the information referred to in Article 1(1), point (b) to make that information accessible on ESAP. Whe~~n submitting that information~~re the substance and format of that information does not have the same value and reliability as the information referred to in Article 1(1), point (a), users shall be informed thereof by means of a clear disclaimer. When submitting the information referred to in Article 1(1), point (b) , the natural or legal person shall:

Amendment 132 #

Proposal for a regulation
Article 3 – paragraph 1 – introductory part

1. Any natural or legal person may submit to a collection body the information referred to in Article 1(1), point (b) to make that information accessible on ESAP upon its establishment. Each Member State shall designate at least one collection body for the collection of information submitted on a voluntary basis. When submitting that information, the natural or legal person shall:

Amendment 133 #

Proposal for a regulation
Article 3 – paragraph 1 – introductory part

1. Any ~~natural or legal person~~entity in the meaning of Article 1, paragraph 2 may submit to a collection body the information referred to in Article 1(1), point (b) to make that information accessible on ESAP. When submitting that information, the natural or legal person shall:

Amendment 134 #

Proposal for a regulation
Article 3 – paragraph 1 – introductory part

1. Any natural or legal person may submit to a collection body the information referred to in Article 1(1)~~, point (b)~~ to make that information accessible on ESAP. When submitting that information, the natural or legal person shall:

Amendment 135 #

(a) provide the collection body with a minimum level of metadata about the information submitted;

Amendment 136 #

Billy KELLEHER, Pascal DURAND, Stéphanie YON-COURTIN, Gilles BOYER, Caroline NAGTEGAAL

Proposal for a regulation
Article 3 – paragraph 1 – point a a (new)

(a a) Specify that the information submitted is done so on a voluntary basis;

Amendment 137 #

Proposal for a regulation
Article 3 – paragraph 1 – point c

Amendment 138 #

Billy KELLEHER, Pascal DURAND, Stéphanie YON-COURTIN, Gilles BOYER, Caroline NAGTEGAAL

Proposal for a regulation
Article 3 – paragraph 1 – point d

(d) ensure that no personal data are included, except where the personal data constitute a necessary element of the information about its economic activities, including when the name of the entity coincides with the name of the owner. If personal data is justifiably included, this shall be specified.

Amendment 139 #

Billy KELLEHER, Pascal DURAND, Stéphanie YON-COURTIN, Gilles BOYER, Caroline NAGTEGAAL

Proposal for a regulation
Article 3 – paragraph 1 – point d

(d) ensure that no personal data are included, except where the personal data constitute a necessary element of the information about its economic activities and that data cannot be anonymised.

Amendment 140 #

Proposal for a regulation
Article 3 – paragraph 1 – subparagraph 1 (new)

Information submitted on a voluntary basis that corresponds to the information referred to in Article(1), point (a), must be done so in a manner that ensures the information is comprehensive, contextualised, and comparable with information submitted on a mandatory basis.

Amendment 141 #

Proposal for a regulation
Article 3 – paragraph 1 – point d a (new)

(d a) provide external assurance, including by statutory auditor, audit firm or independent assurance service provider;

Amendment 142 #

Proposal for a regulation
Article 3 – paragraph 1 – point d a (new)

(d a) ensure that the voluntary nature of information submitted is appropriately highlighted and is accurate and clear.

Amendment 143 #

Proposal for a regulation
Article 3 – paragraph 1 – point d a (new)

(d a) ensure that the data is accurate and complete

Amendment 144 #

Proposal for a regulation
Article 3 – paragraph 1 – point d b (new)

(d b) certify the correctness of the information by the entity where no external assurance is provided.

Amendment 145 #

Proposal for a regulation
Article 3 – paragraph 2 – point a

(a) ~~the~~a minimum level of metadata to be provided about the information submitted;

Amendment 146 #

Billy KELLEHER, Pascal DURAND, Stéphanie YON-COURTIN, Gilles BOYER, Caroline NAGTEGAAL

Proposal for a regulation
Article 3 – paragraph 2 – point c

~~(c) the designation of collection bodies to which the information is submitted to.~~deleted

Amendment 147 #

Proposal for a regulation
Article 3 – paragraph 2 – point c a (new)

(c a) the minimum data fields that must be completed if information corresponding to that referred to in Article 1(1), point (a) is submitted on a voluntary basis.

Amendment 148 #

Proposal for a regulation
Article 3 – paragraph 2 – point c a (new)

(c a) standards for the automatic identification of personal data

Amendment 149 #

Proposal for a regulation
Article 3 – paragraph 2 – point c b (new)

(c b) the cases under which personal data can be included in voluntary submissions

Amendment 150 #

(c c) the consequences of inaccurate or misleading information submissions

Amendment 151 #

Proposal for a regulation
Article 3 – paragraph 2 – subparagraph 1

Amendment 152 #

Proposal for a regulation
Article 3 – paragraph 2 – subparagraph 2 a (new)

The Joint Committee of the European Supervisory Authorities shall produce draft implementing technical standards setting out a minimum level of metadata required to accompany voluntary information submitted with the aim of minimising reporting requirements while supporting the integrity of the overall ESAP.

Amendment 153 #

Proposal for a regulation
Article 3 – paragraph 2 – subparagraph 2 b (new)

The Joint Committee of the European Supervisory Authorities shall draw on existing technical standards when drafting the implementing technical standards.

Amendment 154 #

Proposal for a regulation
Article 3 – paragraph 2 a (new)

2 a. If necessary, the Joint Committee of the European Supervisory Authorities shall adopt guidance for entities to ensure the metadata submitted is relevant.

Amendment 155 #

Johan VAN OVERTVELDT, Johan NISSINEN, Michiel HOOGEVEEN

Proposal for a regulation
Article 5 – paragraph 1 – point a

(a) collect and store the information submitted by the entities, using existing infrastructure and procedures where relevant;

Amendment 156 #

Proposal for a regulation
Article 5 – paragraph 1 – point a a (new)

(a a) store the information submitted by the entities or, where relevant, generated by the collection bodies themselves;

Amendment 157 #

Johan VAN OVERTVELDT, Johan NISSINEN, Michiel HOOGEVEEN

Proposal for a regulation
Article 5 – paragraph 1 – point b – introductory part

(b) perform technical automated validations on the information submitted to verify that the information complies with all of the following requirements:

Amendment 158 #

Proposal for a regulation
Article 5 – paragraph 1 – point b – point i a (new)

(i a) the information contains the appropriate level of authenticity as specified in the implementing technical standard referred to in Article 5(6), availability, integrity and proof of origin;

Amendment 159 #

Proposal for a regulation
Article 5 – paragraph 1 – point b – point iii

~~(iii) the information contains a qualified electronic seal;~~deleted

Amendment 160 #

Proposal for a regulation
Article 5 – paragraph 1 – point b – point iii

(iii) the information contains a qualified electronic seal, if such a seal is required by national legislation;

Amendment 161 #

Proposal for a regulation
Article 5 – paragraph 1 – point e

(e) provide technical assistance to the entities submitting the information on the submission or, if relevant, resubmission process;

Amendment 162 #

Pedro SILVA PEREIRA

Proposal for a regulation
Article 5 – paragraph 1 – point f – introductory part

(f) ensure that the information referred to in Article 1(1) remains available to ESAP for at least 10 years, unless stated otherwise in the legal acts referred to in Article 1(1), point (a). ~~Personal data~~ Where the metadata accompanying the information submitted pursuant to Article 1(1) refers to or contains indicates that the information includes any personal data, such information shall not be retained ~~and~~nor be made available on ESAP for longer than 5 years, unless stated otherwise in the legal acts referred to in Article 1(1), point (a).

Amendment 163 #

Proposal for a regulation
Article 5 – paragraph 1 – point f – introductory part

(f) ensure that the information referred to in Article 1(1) remains available to ESAP for at least 10 years, unless stated otherwise in the legal acts referred to in Article 1(1), point (a). Personal data in the information submitted pursuant to Article 1(1) shall not be retained ~~and~~for longer than necessary and in any case not be made available for longer than 5 years, unless stated otherwise in the legal acts referred to in Article 1(1), point (a).

Amendment 164 #

Proposal for a regulation
Article 5 – paragraph 1 – point f – introductory part

(f) ~~ensure that~~provide the information referred to in Article 1(1) so that it remains available to ESAP for at least 10 years, unless stated otherwise in the legal acts referred to in Article 1(1), point (a). Personal data in the information submitted pursuant to Article 1(1) shall not be retained and made available for longer than 5 years, unless stated otherwise in the legal acts referred to in Article 1(1), point (a).

Amendment 165 #

Proposal for a regulation
Article 5 – paragraph 1 – point f – paragraph 1 – subparagraph 1 (new)

For the purpose of point (fa), the collection body shall notify ESMA if information is removed or replaced. This notification shall remain available for 6 months.

Amendment 166 #

Proposal for a regulation
Article 5 – paragraph 1 – point f a (new)

(f a) remove any information that is notified to the collecting body as being false or containing errors.

Amendment 167 #

Proposal for a regulation
Article 5 – paragraph 2 – point a

(a) where the automated validations referred to in paragraph 1, point (b), reveal that the information does not comply with the requirements laid down in that point (b) or on the basis of notifications received according to Article 10(2);

Amendment 168 #

Proposal for a regulation
Article 5 – paragraph 2 a (new)

2 a. Where information is rejected, entities may correct it and resubmit it.

Amendment 169 #

Billy KELLEHER, Pascal DURAND, Stéphanie YON-COURTIN, Gilles BOYER, Caroline NAGTEGAAL

Proposal for a regulation
Article 5 – paragraph 2 – point b

(b) where the information is ~~manifestly~~ inappropriate, abusive, or ~~clearly~~ outside the scope of the information referred to in Article 1(1).

Amendment 170 #

Proposal for a regulation
Article 5 – paragraph 2 – subparagraph 1 (new)

Collection bodies shall notify the entities of the rejection and the reasons thereof within a reasonable timeframe.

Amendment 171 #

Billy KELLEHER, Pascal DURAND, Stéphanie YON-COURTIN, Gilles BOYER, Caroline NAGTEGAAL

Proposal for a regulation
Article 5 – paragraph 4

4. Entities s~~hall~~ubject to mandatory reporting shall be responsible for ensuring the accuracy of the information submitted owing to their legal obligations under the relevant Union law listed in the Annex to this Regulation or national law. Entities shall also ensure the accuracy of the information they submit to the collection bodies on a voluntary basis.

Amendment 172 #

Johan VAN OVERTVELDT, Johan NISSINEN, Michiel HOOGEVEEN

Proposal for a regulation
Article 5 – paragraph 4

4. Entities shall ensure ~~the accuracy~~and shall be liable for the accuracy and completeness of the information that they submit to the collection bodies, as well as for the accompanying metadata.

Amendment 173 #

Proposal for a regulation
Article 5 – paragraph 4

4. Entities shall ensure the accuracy, completeness and reliability of the information they submit to the collection bodies as well as for the accompanying metadata.

Amendment 174 #

Billy KELLEHER, Pascal DURAND, Stéphanie YON-COURTIN, Gilles BOYER, Caroline NAGTEGAAL

Proposal for a regulation
Article 5 – paragraph 4 a (new)

4 a. Entities shall be responsible for the quality, completeness, and accuracy of the information, as well as the inclusion of personal data;

Amendment 175 #

Proposal for a regulation
Article 5 – paragraph 5

5. As regards the information falling under this Regulation, the collection bodies shall not exercise the right of the maker of a database, referred to in Article 7(1) of Directive 96/9/EC of the European Parliament and of the Council33 , tor any other intellectual property rights, in a way that prevents or restricts the use and re- use of the contents of the database ~~or to restrict re- use of those contents~~pursuant to Article 9. _________________ 33 Directive 96/9/EC of the European Parliament and of the Council of 11 March 1996 on the legal protection of databases (OJ L 77, 27.3.1996, p. 20).

Amendment 176 #

Proposal for a regulation
Article 5 – paragraph 5 a (new)

5 a. Collection bodies shall ensure appropriate levels of authenticity, availability, integrity, and non- repudiation of information

Amendment 177 #

Proposal for a regulation
Article 5 – paragraph 6 – introductory part

6. The Joint Committee of the European Supervisory Authorities shall, in consultation with the collection bodies, develop draft implementing technical standards specifying all of the following:

Amendment 178 #

Proposal for a regulation
Article 5 – paragraph 6 a (new)

6 a. Data formats shall be machine readable and shall encompass a wide variety for formats which are non- platform specific, with references to existing sectoral standards, particularly as regards small and medium-sized undertakings. Any harmonisation of information shall be based on proportionality so as not to negatively impact certain issuers.

Amendment 179 #

Proposal for a regulation
Article 6 – paragraph 1 a (new)

Security policy in this area shall be periodically reviewed to account for the latest standards in order to ensure a continued high level of security.

Amendment 180 #

Billy KELLEHER, Pascal DURAND, Stéphanie YON-COURTIN, Gilles BOYER, Caroline NAGTEGAAL

Proposal for a regulation
Article 7 – paragraph 1 a (new)

1 a. ESMA shall put in place appropriate technical and organisational measures to avoid excessive disclosure of personal data via the API or download reservice referred to in paragraph 1, points b and f of this article

Amendment 181 #

Proposal for a regulation
Article 7 – paragraph 3 – point b

(b) the legal entity identifier of the entity that submitted the information and, where applicable, the legal entity identifier of its subsidiaries;

Amendment 182 #

Proposal for a regulation
Article 7 – paragraph 3 – point c

(c) the type of information including information on sustainability where applicable, submitted by the entity that submitted the information;

Amendment 183 #

Billy KELLEHER, Pascal DURAND, Stéphanie YON-COURTIN, Gilles BOYER, Caroline NAGTEGAAL

Proposal for a regulation
Article 7 – paragraph 3 – point c

(c) the type of information submitted by the entity that submitted the information including whether it is mandatory or voluntary;

Amendment 184 #

Proposal for a regulation
Article 7 – paragraph 3 – point c

Amendment 185 #

Billy KELLEHER, Pascal DURAND, Stéphanie YON-COURTIN, Gilles BOYER, Caroline NAGTEGAAL

Proposal for a regulation
Article 7 – paragraph 3 – point d

(d) the date, time, year and month in which the information was submitted by the entity that submitted the information;

Amendment 186 #

Proposal for a regulation
Article 7 – paragraph 3 – point e a (new)

(e a) the country of establishment of the entity;

Amendment 187 #

Billy KELLEHER, Pascal DURAND, Stéphanie YON-COURTIN, Gilles BOYER, Caroline NAGTEGAAL

Proposal for a regulation
Article 7 – paragraph 3 – point e b (new)

(e b) the industry sector(s) of the entity’s economic activities;

Amendment 188 #

Billy KELLEHER, Pascal DURAND, Stéphanie YON-COURTIN, Gilles BOYER, Caroline NAGTEGAAL

Proposal for a regulation
Article 7 – paragraph 3 – point f a (new)

(f a) date or period to which the information refers.

Amendment 189 #

Proposal for a regulation
Article 7 – paragraph 4 – point d a (new)

(d a) the categories of industry sectors referred to in paragraph 3, point (eb).

Amendment 190 #

Billy KELLEHER, Pascal DURAND, Stéphanie YON-COURTIN, Gilles BOYER, Caroline NAGTEGAAL

Proposal for a regulation
Article 7 – paragraph 4 a (new)

4 a. To ensure consistency with the digital mark-up of sustainability information, for the purpose of paragraphs 1, 2 and 3, the Joint Committee of the European Supervisory Authorities shall consult the European Financial Reporting Advisory Group on the development of draft implementing standards pertaining to the disclosure of sustainability information.

Amendment 191 #

Johan VAN OVERTVELDT, Johan NISSINEN, Michiel HOOGEVEEN

Proposal for a regulation
Article 8 – paragraph 1

1. In order to promote transparency and the smooth functioning of European capital markets, ESMA shall ensure that access to ESAP is provided without discrimination.

Amendment 192 #

Proposal for a regulation
Article 8 – paragraph 2 – introductory part

2. ESMA shall ensure that anyone has direct and immediate access free of charge to the information made available on ESAP.

Amendment 193 #

Proposal for a regulation
Article 8 – paragraph 2 – subparagraph 1

Amendment 194 #

Billy KELLEHER, Pascal DURAND, Stéphanie YON-COURTIN, Gilles BOYER, Caroline NAGTEGAAL

Proposal for a regulation
Article 8 – paragraph 2 – subparagraph 1

ESMA may, however, charge fees exclusively to commercial users for specific services that involve high maintenance or support costs due to searches for a very large volume of information or for frequently updated information. Those fees shall be kept to the minimum and, in any case, not exceed the cost incurred by ESMA for the provision of the service. The relevant revenue shall be allocated to contributing to the overall functioning of ESAP. Retail investors, academia, social partners and civil society organisations shall not be subject to fees.

Amendment 195 #

Proposal for a regulation
Article 8 – paragraph 2 – subparagraph 1

ESMA may, however, charge fees for specific services that involve searches and downloads for a very large volume of information or for frequently updated information, except when those services are used by civil society organisations, public bodies and academic institutions. Those fees shall not exceed the cost incurred by ESMA for the provision of the service.

Amendment 196 #

Proposal for a regulation
Article 8 – paragraph 2 – subparagraph 1

ESMA may, however, charge fees for specific services that involve searches for a very large volume of information or for frequently updated information and when those services are for commercial re-use of data. Those fees shall not exceed the cost incurred by ESMA for the provision of the service.

Amendment 197 #

Proposal for a regulation
Article 8 – paragraph 2 – subparagraph 1

ESMA may, however, charge fees for specific services that involve searches for a very large volume of information or for frequently updated information. Those fees shall not exceed the direct cost incurred by ESMA for the provision of the service.

Amendment 198 #

Proposal for a regulation
Article 8 – paragraph 2 – subparagraph 1 a (new)

Circumstances where fees shall not apply include the use of information provided by ESAP by entities in fulfilling regulatory obligations, and use of information for educational purposes.

Amendment 199 #

Proposal for a regulation
Article 8 – paragraph 2 a (new)

2 a. ESMA shall make publicly and easily accessible the circumstances of commercial re-use of data linked to the thresholds of volumes of information and frequencies above which the fees referred in paragraph 2 shall apply.

Amendment 200 #

Proposal for a regulation
Article 8 – paragraph 3 – point e a (new)

(e a) any Member State government institution, body, or agency.

Amendment 201 #

Proposal for a regulation
Article 8 – paragraph 3 – point e a (new)

(e a) academics, news organisations and non-governmental organisations insofar as access to the data is necessary in the performance of their work.

Amendment 202 #

Pascal DURAND

Proposal for a regulation
Article 8 – paragraph 3 – point e a (new)

(e a) any entity responding to at least one of the overriding reasons in the public interest as defined in article 6 of Directive (EU) 2018/95835a . _________________ 35a Directive (EU) 2018/958 of the European Parliament and of the Council of 28 June 2018 on a proportionality test before adoption of new regulation of professions

Amendment 203 #

Proposal for a regulation
Article 8 – paragraph 4

4. For the purposes of paragraph 2, second subparagraph, ESMA may 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. ESMA shall submit those draft implementing technical standards to the Commission. Power is conferred on the Commission to adopt the implementing technical standards referred to in the first subparagraph in accordance with Article 15 of Regulation (EU) No 1095/2010.deleted

Amendment 204 #

Billy KELLEHER, Pascal DURAND, Stéphanie YON-COURTIN, Gilles BOYER, Caroline NAGTEGAAL

Proposal for a regulation
Article 8 – paragraph 4 – introductory part

Amendment 205 #

Proposal for a regulation
Article 8 – paragraph 4 a (new)

4 a. If ESMA decides to charge fees to certain users of ESAP or for certain services of ESAP, it shall publish and make easily accessible on the ESAP website the fee structure, the volume thresholds, if relevant, and rate, and review the rate and thresholds on an annual basis.

Amendment 206 #

Proposal for a regulation
Article 9 – paragraph 1 – subparagraph 1 (new)

Neither ESMA nor collection bodies shall be responsible or liable for the use and re- use of information accessible on ESAP

Amendment 207 #

Proposal for a regulation
Article 9 – paragraph 1 a (new)

Personal data from ESAP shall be used or re-used in line with Regulation (EU) 2016/679 and any personal data that is re- used shall not be retained for longer than necessary and in any case not for longer than 5 years, unless provided for otherwise in the legal acts referred to in Article 1(1), point (a) of this Regulation.

Amendment 208 #

Billy KELLEHER, Pascal DURAND, Stéphanie YON-COURTIN, Gilles BOYER, Caroline NAGTEGAAL

Proposal for a regulation
Article 10 – paragraph 1

1. ESMA shall perform a~~utomated~~t least every six months automated periodic validations to verify compliance of the information submitted by the collection bodies with the requirements laid down in Article 5(1), point (b).

Amendment 209 #

Proposal for a regulation
Article 10 – paragraph 2

2. ESMA shall implement appropriate technical processes to automatically notify a collection body that the information submitted does not comply with the requirements laid down in Article 5(1), point (b). The collection body shall notify the submitting entity of the rejection and the reasons for in accordance with Article 2(2), subparagraph 2.

Amendment 210 #

Proposal for a regulation
Article 10 – paragraph 2 a (new)

2 a. ESMA shall apply procedures to verify the completeness and accuracy of the information submitted by the collection bodies. ESMA may also perform additional data quality, integrity, and proof of origin checks, and may notify and suspend publication of information depending on the results of these checks.

Amendment 211 #

2 b. ESMA shall reject information submitted by entities in each of the following cases: (a) where the automated validations referred to in paragraph 1, point (b), reveal that the information does not comply with the requirements laid down in paragraph 1, point (b); (b) where the information is manifestly inappropriate, abusive, or clearly outside the scope of the information referred to in Article 1(1).

Amendment 212 #

Proposal for a regulation
Article 11 – paragraph 1 – point a a (new)

(a a) ensure that the information made available on the ESAP is complete and accurate

Amendment 213 #

Proposal for a regulation
Article 11 – paragraph 1 – point c

Amendment 214 #

Proposal for a regulation
Article 11 – paragraph 1 – point d – point iii

~~(iii) the funding conditions of ESAP, including in which situations fees may be imposed and the calculation of those fees;~~deleted

Amendment 215 #

Proposal for a regulation
Article 11 – paragraph 1 – point d – point iv a (new)

(iv a) Issues of data quality, comparability, and rectification of submission errors.

Amendment 216 #

Proposal for a regulation
Article 11 – paragraph 2 a (new)

2 a. ESMA shall establish an ESAP advisory group composed of experts and relevant stakeholders, including civil society and social partners, to advise and support ESMA in the implementation, improvement and enhancement of ESAP.

Amendment 217 #

Proposal for a regulation
Article 11 – paragraph 2 a (new)

2 a. ESMA shall establish an advisory group comprised of database and information technology experts and draw on this technical expertise as appropriate in order to address outstanding issues.

Amendment 218 #

Pedro SILVA PEREIRA

Proposal for a regulation
Article 11 – paragraph 3

3. ESMA shall ~~not store~~ensure that no information containing personal data ~~except for automatic, intermediate and transient processing, including storage of that information insofar as strictly necessary for the purpose of giv~~is stored on ESAP, unless necessary for facilitating easy and timely access to the information on ESAP and for implementing the relevant requirements set out in [this Regulation]. ESMA shall take appropriate technical and organisational measures to ensure that personal data processing via ESAP is carried out ing acc~~ess to information provided by the collection bodies.~~ ordance with Regulation (EU) 2018/1725 and that information is not retained or made available any longer than provided for in Article 5(1), point (f).

Amendment 219 #

Proposal for a regulation
Article 11 – paragraph 3 a (new)

3 a. ESMA shall ensure that personal data processing is in compliance with the Data Protection Framework for EU Institutions.

Amendment 220 #

Proposal for a regulation
Article 13 – paragraph 1

By [PO, please insert a date 5 years after the entry into force of this Regulation], the Commission shall ~~review the functioning of ESAP and assess its effectiveness~~, taking into account the annual reports referred to in Article 12, review the functioning of ESAP and assess its effectiveness, including: - the contribution of ESAP to making entities, including SMEs, more visible to cross-border investors; - the interoperability of the ESAP with similar global or national initiatives; - the cost incurred by entities and collection bodies for reporting to ESAP; - the costs incurred by ESMA for operating ESAP; - the fee structure, if applicable; - the benefits, if any, of extending the scope of ESAP to allow third-country entities to voluntarily submit information in accordance with all legislation listed in the annex to this Regulation. The Commission shall report to the European Parliament and to the Council on the results of this review.

Amendment 221 #

Proposal for a regulation
Article 13 – paragraph 1

By [PO, please insert a date 5 years after the entry into force of this Regulation], the Commission shall review the functioning of ESAP and assess its effectiveness. If the report reveals operational difficulties from either the reporting entities, collection bodies or ESMA, the Commission shall take appropriate action, including by adopting a delegated act to rectify the matter(s), and including any changes to the scope of information required for submission until the matter(s) is resolved. The Commission shall report to the European Parliament and to the Council on the results of this review.

Amendment 222 #

Johan VAN OVERTVELDT, Johan NISSINEN, Michiel HOOGEVEEN

Proposal for a regulation
Article 13 – paragraph 1

By [PO, please insert a date 5 years after the entry into force of this Regulation], the Commission shall review the functioning of ESAP and assess its effectiveness. This review shall be accompanied by an overview of existing data-gaps in the EU and a strategy to address them. The review shall also include an assessment of the impact of this Regulation on the market position of private data providers in the EU. The Commission shall report to the European Parliament and to the Council on the results of this review.

Amendment 223 #

Proposal for a regulation
Article 13 – paragraph 1

By [PO, please insert a date 5 years after the entry into force of this Regulation], the Commission shall review the functioning of ESAP and assess its effectiveness. The Commission shall report to the European Parliament and to the Council on the results of this review. The progressive inclusion of information on ESAP shall be conditioned upon a prior and positive evaluation of an initial phase.

Amendment 224 #

The review report shall address, inter alia, any technical challenges in implementation, collection issues, security issues, cost issues, and access issues, as well as issues pertaining to additional visibility of small and medium-sized undertakings.

Amendment 225 #

Proposal for a regulation
Article 13 – paragraph 1 b (new)

The review shall make recommendations on the future development of ESAP including any further reporting requirements to be included within the scope.

Amendment 226 #

Proposal for a regulation
Article 13 – paragraph 1 c (new)

The Commission may propose amending legislation to amend, update, or expand the scope of ESAP to include other reporting requirements.

Amendment 227 #

Proposal for a regulation
Annex I – Part A – point 3

3. Regulation (EU) No 648/2012 on OTC derivatives, central counterparties and trade repositories66 _________________ 66 Regulation (EU) No 648/2012 of the European Parliament and of the Council of 4 July 2012 on OTC derivatives, central counterparties and trade repositories (OJ L 201, 27.7.2012, p. 1–59)deleted

Amendment 228 #

Proposal for a regulation
Annex I – Part A – point 10

10. Regulation (EU) No 909/2014 on improving securities settlement in the European Union and on central securities depositories73 _________________ 73 Regulation (EU) No 909/2014 of the European Parliament and of the Council of 23 July 2014 on improving securities settlement in the European Union and on central securities depositories and amending Directives 98/26/EC and 2014/65/EU and Regulation (EU) No 236/2012 (OJ L 257, 28.8.2014, p. 1–72)deleted

Amendment 229 #

Proposal for a regulation
Annex I – Part A – point 21

21. Regulation (EU) 2021/23 on a framework for the recovery and resolution of central counterparties84 _________________ 84 Regulation (EU) 2021/23 of the European Parliament and of the Council of 16 December 2020 on a framework for the recovery and resolution of central counterparties and amending Regulations (EU) No 1095/2010, (EU) No 648/2012, (EU) No 600/2014, (EU) No 806/2014 and (EU) 2015/2365 and Directives 2002/47/EC, 2004/25/EC, 2007/36/EC, 2014/59/EU and (EU) 2017/1132 (OJ L 22, 22.1.2021, p. 1–102)deleted

Amendment 230 #

Proposal for a regulation
Annex I – Part A – point 21 a (new)

21 a. Regulation (EC) No xxxx/xxxx on European Green Bonds

Amendment 231 #

21 a. Regulation (EU) No xxxx/xxxx on European Green Bonds

Amendment 232 #

Proposal for a regulation
Annex I – Part A – point 21 a (new)

21 a. Regulation XXX on European green bonds

Amendment 233 #

Proposal for a regulation
Annex I – Part A – point 21 b (new)

Amendment 234 #

Proposal for a regulation
Annex I – Part A – point 21 b (new)

21 b. Regulation (EC) No xxxx/xxxx on Markets in Crypto-Assets (MiCA)

Amendment 235 #

Proposal for a regulation
Annex I – Part B – point 9 a (new)

9 a. Directive (EC) No xxxx/xxxx Corporate Sustainability Due Diligence

Amendment 236 #

Proposal for a regulation
Annex I – Part B – point 11

11. Directive 2014/59/EU establishing a framework for the recovery and resolution of credit institutions and investment firms95 _________________ 95 Directive 2014/59/EU of the European Parliament and of the Council of 15 May 2014 establishing a framework for the recovery and resolution of credit institutions and investment firms and amending Council Directive 82/891/EEC, and Directives 2001/24/EC, 2002/47/EC, 2004/25/EC, 2005/56/EC, 2007/36/EC, 2011/35/EU, 2012/30/EU and 2013/36/EU, and Regulations (EU) No 1093/2010 and (EU) No 648/2012, of the European Parliament and of the Council (OJ L 173, 12.6.2014, p. 190–348)deleted

Amendment 237 #

Proposal for a regulation
Annex I – Part B – point 11 a (new)

11 a. Directive (EC) No xxxx/xxxx establishing a framework for the recovery and resolution of insurance and reinsurance undertakings

Amendment 73 #

Proposal for a regulation
Recital 2

(2) Easy access to data is important in order for decision makers in the economy and society to make sound decisions that serve the efficient functioning of the market. Rolling out common European data spaces in crucial sectors, including the financial sector, would serve that purpose. The financial sector is undergoing a digital transformation, which is expected to continue in the coming years, and the Union should support that transformation, in particular by promoting data-driven finance. Ensuring easier access to public information is also crucial to increasing opportunities for small and medium- business growth, visibility, and innovation. This includes easier access to voluntary information. Furthermore, putting sustainable finance at the heart of the financial system is a key means to achieving a green transition of the economy of the Union. For the green transition to succeed through sustainable finance, it is essential that information related to the sustainability of businesses is easily accessible to investors so that they are better informed when making decisions about investments. For those purposes, public access to entities’ information such as companies, businesses, financial institutions, financial and non- financial information needs to be improved. An efficient means to do so at Union level is to establish a centralised platform, a European single access point (“ESAP”), giving electronic access to all relevant information.

Amendment 74 #

Proposal for a regulation
Recital 2

(2) Easy access to data is important in order for decision makers, civil society, investors, as well as other stakeholders in the economy and society to make sound decisions that serve the efficient functioning of the market. Rolling out common European data spaces in crucial sectors, including the financial sector, would serve that purpose. The financial sector is undergoing a digital transformation, which is expected to continue in the coming years, and the Union should support that transformation, in particular by promoting data-driven finance. Furthermore, putting sustainable finance at the heart of the financial system is a key means to achieving a green transition of the economy of the Union. For the green transition to succeed through sustainable finance, it is essential that information related to the sustainability of businesses is easily accessible to investors so that they are better informed when making decisions about investments. For those purposes, public access to entities’ information such as companies, businesses, financial institutions, financial and non- financial information needs to be improved. An efficient means to do so at Union level is to establish a centralised platform, a European single access point (“ESAP”), giving electronic access to all relevant information.

Amendment 75 #

Proposal for a regulation
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. ~~As presented in the Digital Finance Strategy, ESAP should be established as from 2024~~ESAP should be established as from 2025. It should also allow for more retail-oriented accessibility of relevant information in order to meet growing demand for quality information, in particular when it comes to sustainability. That should translate into an interface that is as user-friendly as possible, with a high degree of data comparability, and search criteria that are relevant to retail investors.

Amendment 76 #

Proposal for a regulation
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, according to a file-once principle and without entailing any additional reporting requirements beyond those specified by law. 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. As presented in the Digital Finance Strategy, ESAP should be established as from 2024.

Amendment 77 #

Proposal for a regulation
Recital 3

Amendment 78 #

Johan VAN OVERTVELDT, Johan NISSINEN, Michiel HOOGEVEEN

Proposal for a regulation
Recital 3 a (new)

(3 a) In order to enhance the promotion of sustainable finance at the heart of the financial system as a key prerequisite for achieving a just and inclusive green transition, ESAP should provide a clear synergy between the sustainable development goals (SDGs) and the European Green Deal indicators.

Amendment 79 #

Proposal for a regulation
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. 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. Draft implementing technical standards should be drawn up by the European Supervisory Authorities and, when relevant, through the Joint Committee of the European Supervisory Authorities for submission to the Commission, specifying the characteristics of machine readable and data extractable formats and accounting for any evolving technology trends or standards. 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 80 #

Billy KELLEHER, Pascal DURAND, Stéphanie YON-COURTIN, Gilles BOYER, Caroline NAGTEGAAL

Proposal for a regulation
Recital 4

(4) The information to be made publicly accessible on ESAP should be collected by collection bodies designated by the Member States for the purpose of collecting the information that the entities are under an obligation to make public. Collection bodies should not be required to build new systems where existing mechanisms are available. 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. 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 81 #

Proposal for a regulation
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. For the information to be digitally usable and searchable, 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 technical assistance to those entities.

Amendment 82 #

Johan VAN OVERTVELDT, Johan NISSINEN, Michiel HOOGEVEEN

Proposal for a regulation
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. Such voluntary information should be clearly identified. Furthermore, the requirement for additional metadata should be well- founded and kept to a minimum so as not to disincentivise voluntary submissions. 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 83 #

Proposal for a regulation
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 governed by the law of a Member State should therefore be allowed to make financial, sustainability- related and other relevant information accessible on ESAP. 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 84 #

Billy KELLEHER, Pascal DURAND, Stéphanie YON-COURTIN, Gilles BOYER, Caroline NAGTEGAAL

Proposal for a regulation
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. Pursuant to the principle of data minimisation, entities should ensure that no personal data are included, except where those data cannot be anonymised and 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 85 #

Proposal for a regulation
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, academia 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, that are not subject to the mandatory disclosure requirements under Union law, 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. ~~Pursuant to the principle of data mini~~Such voluntary submisatsion, 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) should, nonetheless, be subject to the same format and data quality requirements so as not to jeopardise the integrity of the ESAP. Moreover, entities that are not subject to mandatory reporting, in accordance with the Union law listed in the Annex to this Regulation, that choose to voluntarily submit information corresponding to that due under Union law, should ensure that they submit a complete data set to facilitate comparison and contextualise the data.

Amendment 86 #

Johan VAN OVERTVELDT, Johan NISSINEN, Michiel HOOGEVEEN

Proposal for a regulation
Recital 5 a (new)

(5 a) Entities submitting information to ESAP remain responsible for the accuracy, veracity, completeness and reliability of such information. A clear framework defining the liabilities to which the entities submitting information would be subject to should be established in order to ensure full compliance with the obligation to submit accurate information and provide for explicit protection for the ESAP users against any potential loss or damage arising from the use of inaccurate, incorrect or incomplete information. Such a framework would also enhance the quality of the data available on ESAP, thus contributing to its usability and reliability. As a result, ESAP would build users’ trust in its information, effectively attaining its objective of constituting a single Union- wide source of comparable and accurate information.

Amendment 87 #

Proposal for a regulation
Recital 5 a (new)

(5 a) Entities submitting information to the collection bodies remain liable for the accuracy and completeness of such information and metadata. Pursuant to the principles of data minimisation and protection, 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 the information submitted contains personal data, entities should ensure that they can rely for the disclosure thereof 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 Council1a. _________________ 1a 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 88 #

Billy KELLEHER, Pascal DURAND, Stéphanie YON-COURTIN, Gilles BOYER, Caroline NAGTEGAAL

Proposal for a regulation
Recital 5 a (new)

(5 a) 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 Council1a . _________________ 1a 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 89 #

Billy KELLEHER, Pascal DURAND, Stéphanie YON-COURTIN, Gilles BOYER, Caroline NAGTEGAAL

Proposal for a regulation
Recital 7

(7) In order to enable entities and the public to identify the collection bodies providing information to ESAP, ESMA should publish on its website a list of the collection bodies and keep it up to date. The designation of collection bodies should be at the discretion of Member States but should respect the “file-once principle”.

Amendment 90 #

Proposal for a regulation
Recital 8

(8) ESAP risks being subject to confidentiality breaches, integrity risks or risks on availability of the system and on the information processed therein. Those threats include accidents, errors, deliberate attacks and natural events, and need to be recognised as operational risks. ESMA should implement appropriate and proportionate policies, including regular reviews, to ensure that ESAP protects the information processed and functions as needed to the highest appropriate standard.

Amendment 91 #

Proposal for a regulation
Recital 8

(8) ESAP risks being subject to confidentiality breaches, integrity risks or risks on availability of the system and on the information processed therein. Those threats include accidents, errors, deliberate attacks and natural events, and need to be recognised as operational risks. ESMA, and the collection bodies, should implement appropriate and proportionate policies to ensure that ~~ESAP~~the protectsion of the information processed and functions as needed.

Amendment 92 #

Proposal for a regulation
Recital 9

(9) To facilitate the searching, finding, retrieving and use of data, ESMA should ensure that ESAP offers a set of functionalities, including a search function, machine translation and possibilities to extract the information. The search functions should be offered in all the official languages of the Union and build at least on the metadata provided pursuant to the directives and regulations listed in the Annex. By 31 December 20245, ESMA should ensure that ESAP provides users with a minimum set of functionalities, to be completed by 31 December 20256.

Amendment 93 #

Proposal for a regulation
Recital 9

Amendment 94 #

Proposal for a regulation
Recital 9 a (new)

(9 a) When designing the user inter- face for ESAP, it should be borne in mind that it will potentially have a broad range of users, including both professional and retail investors, as well as academic institutions and civil society organisations. Therefore, the user- interface and search function should be designed in a manner that caters for a broad range of potential users.

Amendment 95 #