Delegated regulation 2016/1437 - Supplement to Directive 2004/109/EC with regard to regulatory technical standards on access to regulated information at Union level - Main contents
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official title
Commission Delegated Regulation (EU) 2016/1437 of 19 May 2016 supplementing Directive 2004/109/EC of the European Parliament and of the Council with regard to regulatory technical standards on access to regulated information at Union level| Legal instrument | delegated regulation |
|---|---|
| Number legal act | Delegated regulation 2016/1437 |
| CELEX number i | 32016R1437 |
| Document | 19-05-2016; Date of adoption |
|---|---|
| Publication in Official Journal | 31-08-2016; OJ L 234 p. 1-7 |
| Effect | 20-09-2016; Entry into force Date pub. +20 See Art 10 01-01-2017; Application Partial application See Art 10 |
| End of validity | 31-12-9999 |
31.8.2016 |
EN |
Official Journal of the European Union |
L 234/1 |
COMMISSION DELEGATED REGULATION (EU) 2016/1437
of 19 May 2016
supplementing Directive 2004/109/EC of the European Parliament and of the Council with regard to regulatory technical standards on access to regulated information at Union level
(Text with EEA relevance)
THE EUROPEAN COMMISSION,
Having regard to the Treaty on the Functioning of the European Union,
Having regard to Directive 2004/109/EC of the European Parliament and of the Council of 15 December 2004 on the harmonisation of transparency requirements in relation to information about issuers whose securities are admitted to trading on a regulated market and amending Directive 2001/34/EC (1), and in particular Article 22 thereof,
Whereas:
(1) |
In order to ensure fast access to regulated information on a non-discriminatory basis and make that information available to end users, the European Securities and Markets Authority (ESMA) has an obligation to develop and operate a European Electronic Access Point (EEAP). The EEAP should be conceived as a web portal accessible through ESMA's website and, given its centralising role, should not assume the functions of official appointed mechanisms (OAMs) in respect of storage of regulated information. The EEAP should provide access to regulated information stored by all OAMs, avoid the duplication of data storage and minimise the risks to security of data exchange. |
(2) |
In order to facilitate the search for regulated information and to ensure fast access to that information, the EEAP should offer end users the possibility to search by reference to the identity of an issuer, the home Member State or the type of regulated information. At the same time, the EEAP should enable end users to access the regulated information requested by them through hyperlinks to OAMs' websites where that information is stored. |
(3) |
The proper functioning of the EEAP and its connection with OAMs depend on the security, effectiveness, efficiency and adaptability of the supporting communication technologies. The Hypertext Transfer Protocol Secure should be used by the EEAP and OAMs to connect with each other. However, given the continuous developments in communication technologies and the need to ensure the integrity and security of the exchange of metadata on regulated information, ESMA and the OAMs should cooperate in identifying and implementing alternative communication technologies in the future. Furthermore, where ESMA considers, according to objective technical criteria, that cooperation required for that purpose is ineffective, ESMA should be able to indicate what alternative communication technologies are to be used by the EEAP and OAMs. |
(4) |
In order to enable cross-border searches and accurate search results, an OAM should use a unique identifier for each issuer of securities admitted to trading on a regulated market. Harmonisation of the unique identifiers used by OAMs should enable end users of the EEAP to identify more readily the issuers in respect of whom the end users seek information. Moreover, given the integration of financial markets at international level, the unique identifiers to be used by OAMs should be accepted internationally, be suitable to be assigned to any issuer, be consistent in time, have a limited financial impact on issuers and OAMs, and take into account future developments in this area. Therefore, OAMs should use legal entity identifiers as the unique identifier for issuers of securities admitted to trading on a regulated market. |
(5) |
Harmonisation of the format used to exchange information between the EEAP and the OAMs is necessary in order to ensure the effective functioning of the EEAP. Accordingly, the identification of the appropriate format for exchange of information should take into account... |
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