European Single Access Point (ESAP) to enter into force in January 2024
On 20 December 2023 the legislative acts on the European Single Access Point (ESAP) for information on financial services, capital markets sustainability and diversity were published in the Official Journal of the EU. The ESAP is expected to provide the public with easy centralized access to non-commercial information about financial services firms and their products. The new law will capture a very large number of financial services and products, including those regulated under MiFID, MiCAR, Venture Capital Funds, European Social Entrepreneurship Funds, Green Bonds. However, Crowdfunding as regulated under ECSPR does - for now - not fall under the new law and regulated platforms will not have to comply yet. The regulations and accompanying directive will enter into force in January 2024. The directive must be adopted by member states by 10 January 2026. More on the legislation can be found within the actual regulation establishing the ESAP here, the regulation amending certain regulations for the functioning of the ESAP is available here, and the directive amending certain directives for the functioning of the ESAP is available here.