It was about time to have a single framework to access EU wide information through a single resource
It’s been a long time coming – finally the European authority in charge of financial markets, the ESMA (European Securities and Markets Authority), has issued a press release that details the introduction of a single, consolidated register for all companies that are regulated by national authorities across the whole framework of competent regulatory entities across the 31 European Economic Area Member States.
The newly launched consolidated register includes information about MiFID firms authorized under Article 5 and a list of sanctions imposed on such firms under Article 51 of MiFID and under Article 14 of the Market Abuse Directive. Additionally the portal will provide a list of prospectuses, certificates and supplements that have been approved under the European Commission’s Prospectus Directive and a list of authorized management companies.
The effort is aimed to ensure additional transparency across the EU spectrum and enhance investor protection by providing convenient access to information for the public. The data that is used in the new information system is provided by National Competent Authorities who bear full responsibility for the accuracy and completeness of the data. Since the process is ongoing the ESMA will continue working with national regulators to ensure that a proper list is available to the public.
To access the newly launched register visit ESMA’s website.
For the full press release issued by the European regulator click here.