Infringement Procedure Against Austria Initiated: What It's About
Due to the partially missed implementation of an EU directive for the creation of a so-called European Single Access Point (ESAP; central European access portal), the EU Commission has initiated infringement proceedings against Austria and 14 other countries. The aim of the ESAP is to create a central and digital point of contact for investors and other interested parties to access financial and sustainability information of European companies.
Two Months Time for Austria
The ESAP is intended, among other things, to contribute to the realization of the capital markets union, which has been demanded by many, and to promote cross-border investments. Specifically, the affected states have failed to implement the ESAP Omnibus Directive, which is part of the legislative package, by July 10, 2025, writes the Brussels authority on Thursday. This is necessary for the first phase of the ESAP project to start in mid-2026. The 15 states now have two months to implement the directive, otherwise the infringement proceedings may move to the next stage.
(APA/Red)
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