site.btaEuropean Single Access Point Created Through First-Reading Amendments to Public Offering of Securities Act

The Bulgarian Parliament voted, 100-2, with 40 abstentions, to approve on first reading amendments to the Public Offering of Securities Act sponsored by the Council of Ministers. The amendments introduce requirements and measures for the implementation of two EU legislative acts which establish a European Single Access Point (ESAP), which, from July 2027, will provide investors with centralized access to publicly available information on financial services, capital markets and sustainability across the EU.

This platform will be developed and operated by the European Securities and Markets Authority. Data will be submitted by market participants to the data-collection authorities, which will provide them to the European Securities and Markets Authority. At national level, the data-collection authorities, depending on their sectoral competences, are the Financial Supervision Commission, the Bulgarian National Bank, the Registry Agency and the Commission for Public Oversight of Statutory Auditors.

The centralization of data access through the ESAP is linked to a large number of already existing reporting obligations for various types of information required from financial entities. Market participants will submit only information that is already public, while new requirements are introduced for the machine-readable format of the information, as well as the set of metadata, defined for the respective type of market entity, that must accompany it.