European Supervisory Authorities Seek Input on Draft Implementing Technical Standards Defining Collection Body Responsibilities and European Single Access Point Functionalities
On 8 January, 2024 the three European Supervisory Authorities EBA, EIOPA, and ESMA released a Consultation Paper on proposed implementing technical standards (ITSs) regarding the tasks of the collection bodies and the functionalities of the European Single Access Point (ESAP). The ITSs aim to ensure that future users can effectively utilize the consolidated financial and sustainability data on the ESAP. Stakeholders are invited to submit their feedback on this consultation by March 8, 2024.
The "Draft ITS specifying certain tasks of collection bodies" goes into specific requirements for collection bodies regarding data management for ESAP. It covers the detailed procedures and standards for automated data validation, ensuring the data meets ESAP's compliance standards. This includes protocols for handling various data formats and implementing advanced electronic validation methods.
The "Draft ITS specifying certain functionalities of ESAP" focuses on the operational features of ESAP. It details the user interface requirements, aiming to create a platform that is both user-friendly and efficient. Key features include advanced search capabilities, effective categorization of data, and ensuring ease of access to financial and sustainability information. This section is integral to making ESAP an effective tool for users needing access to this information.
The ESAs will consider the feedback received to this consultation in Q2 and Q3 2024 and should publish a Final Report and the submission of the draft ITS to the European Commission by 10 September 2024.
For inquiries please contact:
regulatory-advisory@rbinternational.com
RBI Regulatory Advisory
Raiffeisen Bank International AG | Member of RBI Group | Am Stadtpark 9, 1030 Vienna, Austria | Tel: +43 1 71707 - 5923