The AMF supports the proposal to create a European Single Access Point for financial and non-financial information of listed companies
The AMF has contributed to the consultation launched by the European Commission on the creation of a single access point for regulated information published by European listed companies. This is the first action of the new Capital Markets Union action plan. For the AMF, the governance of this tool, which should facilitate investor access to published data, could be entrusted to ESMA.
Information is an important resource for the proper functioning of financial markets. It is therefore essential to facilitate affordable access for all investors, whether professional or retail, as well as researchers, academics or any other users. In a position paper prepared for the European Commission's public consultation on this project, the AMF reviews the main benefits likely to result from the creation of a European Single Access Point (ESAP) for regulated information at EU level. This could provide greater visibility for the listed companies concerned. It could also become a valuable tool for Europe's sustainable finance strategy by providing investors with a single point of access to all the financial and non-financial data resulting from the regulatory obligations which currently apply to listed companies.
For the AMF, the success of this initiative relies on several points, namely:
- a phased implementation of the scope of information covered, starting with the information required by the Transparency Directive (annual financial statements), the Prospectus Regulation, the Non-Financial Reporting Directive (non-financial performance reports), and Article 8 of the Taxonomy Regulation;
- an ESAP regulation which does not introduce in itself any new requirements in terms of reporting obligations and formats;
- contents in machine-readable format;
- a scope that primarily covers companies listed on regulated markets and SME growth markets;
- systematic data quality checks performed when the information is integrated into the database;
- robust and transparent governance, which could be entrusted to ESMA;
- a viable business model that would ideally allow for free access for investors.
About the AMF
The AMF is an independent public authority responsible for ensuring that savings invested in financial products are protected and that investors are provided with adequate information. The AMF also supervises the orderly operations of markets.Visit our website https://www.amf-france.org
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