Ireland now part of EU business-info portal
The Government has brought into effect legislation that creates a new EU-wide portal designed to be a centralised free source of public information about EU companies and investment products.
Tánaiste and Minister of Finance Simon Harris has now signed into law the statutory instruments to create the Irish framework for the European Single Access Point (ESAP).
The portal, set up by EU legislation, aims to improve public access to companies’ financial and non-financial information – including that of SMEs.
‘Scattered’ information
The European Securities and Markets Authority (ESMA), which will establish and administer the portal, has said that such information is currently scattered across many different places, such as company websites and national or EU public registers.
The ESAP will contain information that companies already publish, such as financial statements, audit reports, and sustainability reports.
One of its aims is to give smaller firms greater exposure to both EU and international investors.
Designated national collection bodies, as well as EU supervisory authorities, will provide data to the ESAP.
The Tánaiste described the portal as a ‘one-stop shop’ that would benefit Irish firms by leading to better, more informed decision-making and potentially greater investment.