Anticipated legislation on the European Single Access Point

22 May 2026
Ref.: 2407026

Circular no.: 18/2026
To: Issuers of securities, securities firms, credit institutions, management companies of securities funds, managers of specialised funds, insurance companies, insurance brokers, manufacturers of packaged retail and insurance-based investment products, and the Association of Companies in Financial Services

Subject: Anticipated legislation on the European Single Access Point

Recently, three European Union acts on the European Single Access Point (ESAP) were incorporated into the EEA Agreement. These are Regulation (EU) 2023/2859 (hereinafter the ESAP Regulation), which establishes a framework for ESAP, as well as Directive (EU) 2023/2864 and Regulation (EU) 2023/2869, which each amend certain EU regulations and directives on the submission of data to ESAP.¹ Work on drafting a bill to implement the acts has begun at the Ministry of Finance and Economic Affairs.

ESAP will be a website where it will be possible to access information collected from entities in the EEA area, including various information on issuers of securities, securities funds and specialised funds, sustainability, and fines and other sanctions imposed by supervisory authorities. The objective of ESAP is to enhance access to information relating to financial services, capital markets and sustainability and thereby enable stakeholders to make decisions based on reliable information and promote decisions that are environmentally and socially responsible, as discussed in the recitals of the ESAP Regulation. It will be possible to search for information in all EU/EEA languages in ESAP. The European Securities and Markets Authority (ESMA) will operate ESAP.

It should be noted that the information to be submitted to ESAP is information that entities are already obliged under certain EU acts (and Icelandic law) to compile and publish publicly. In this respect, ESAP will therefore not impose new obligations on reporting entities. A convenient list of the types of information to be submitted under the ESAP acts can be found in an annex to Implementing Regulation (EU) 2025/1338.

The submission of data is divided into three parts in the ESAP acts. Submission of data in the first part will begin in the European Union on 10 July 2026. The data will then be made accessible in the portal one year later, or on 10 July 2027. In this part are certain information provided for in the Transparency

[1] See also the following sub-acts regarding ESAP, i.e. Implementing Regulation (EU) 2025/1338 of 10 July 2025 on technical implementing standards for the application of Regulation of the European Parliament and of the Council (EU) 2023/2859 as regards the functioning of the European Single Access Point and Implementing Regulation 2025/1339 of 10 July 2025 on technical implementing standards for the application of Regulation of the European Parliament and of the Council (EU) 2023/2859 as regards certain tasks of collection bodies.

Directive², the Prospectus Regulation³ and the Short Selling Regulation⁴. In total, there are 30 types of information. Submission of data in the second part is to begin on 10 January 2028 and in the third part on 10 January 2030. The data will be made accessible at the same time. It should be noted that it is not clear when the data submission in question will begin in Iceland.

The Financial Supervisory Authority encourages entities covered by the ESAP acts to familiarise themselves with the content of the acts and to begin timely preparation for the implementation of the ESAP acts into Icelandic law.

This circular will be published on the Central Bank's website, along with key information on ESAP. Furthermore, information on ESAP can also be found on ESMA's website. It is envisaged to hold an information meeting on ESAP at the Central Bank in connection with the presentation of a bill at the Althingi to implement the ESAP acts.

Inquiries relating to ESAP can be sent to the email address esap@sedlabanki.is.

Yours faithfully,
CENTRAL BANK OF ICELAND

Linda Kolbrún Björgvinsdóttir
Managing Director
Conduct Supervision

Sigurður Guðmundsson
Lawyer
Conduct Supervision

[2] Directive of the European Parliament and of the Council 2004/109/EC 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, as subsequently amended. Implemented into Icelandic law by Act no. 20/2021 on the disclosure requirements of issuers of securities and flagging obligations.

[3] Regulation of the European Parliament and of the Council (EU) 2017/1129 of 14 June 2017 on the prospectus to be published when securities are offered to the public or admitted to trading on a regulated market and repealing Directive 2003/71/EC, as subsequently amended. Implemented into Icelandic law by Act no. 14/2020 on the prospectus for securities offered to the public or admitted to trading on a regulated market.

[4] Regulation of the European Parliament and of the Council (EU) no. 236/2012 of 14 March 2012 on short selling and certain aspects of credit default swaps, as subsequently amended. Implemented into Icelandic law by Act no. 55/2017 on short selling and credit default swaps.

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Sigurður Guðmundsson
22.05.2026 11:47

Valid electronic signature
Linda Kolbrún Björgvinsdóttir
22.05.2026 14:32

Sigurður Guðmundsson

Linda Kolbrún Björgvinsdóttir