Public Consultation on the exercise of national discretions in the transposition of the European Single Access Portal (ESAP) Regulation and associated texts

The European Single Access Point (ESAP) legislation consists of: ESAP Establishing Regulation (Regulation (EU) 2023/2859); ESAP Omnibus amending Directive (Directive (EU) 2023/2864); and ESAP Omnibus amending Regulation (Regulation (EU) 2023/2869). The Department of Finance invites interested parties to make submissions in relation to the exercise of national discretions in the transposition of the ESAP legislation.

While the majority of the provisions of ESAP will be transposed on a fully harmonised basis – this is a technical transposition – there is one provision in the Establishing Regulations where Member States are given discretion as to the application of this provision. The Department is also seeking views in relation to other elements of the transposition.

The consultation period will run to 17:00, Friday 1 November 2024.

Submissions received after this deadline will not be considered.

In responding to this consultation you are invited to:

• Give your views on the specific questions set out below. You do not have to answer every question – you may choose to answer all of the questions or only those which are relevant to you.
• Provide details of any issues or concerns you feel should be considered in dealing with the particular topic being addressed in your response.
• Where appropriate, provide some analysis or views on the regulatory and/or financial impact of the proposed approach.

The comments received will be taken into consideration when deciding how best to transpose the ESAP into Irish law.

The preferred means of response is by email to: FSD.marketsandsecurities@finance.gov.ie

Alternatively, you may respond by post to:

ESAP Public Consultation

Financial Services Division

Department of Finance

Upper Merrion Street

Dublin 2, D02 R583

Please include contact details if you are responding by post. When responding, please indicate whether you are a professional adviser, representative body, corporate body or member of the public.

Responses to this consultation are subject to the provisions of the Freedom of Information Acts. Parties should also note that responses to the consultation may be published on the Department’s website.

The Department of Finance may also invite key stakeholders to meet with them, including representative bodies and other interested groups or individuals.

The submissions received in response to this consultation will be taken into consideration when transposing into Irish law the national discretions contained in ESAP.

Nothing in this document constitutes legal advice or any other form of advice, nor should it be construed as such.

Please note that neither the Department of Finance nor the Minister for Finance assume any liability for the accuracy or completeness of the information contained in this consultation document.