The Slovak Republic has adopted an amendment to the Securities and Investment Services Act in connection with the establishment of a European Single Access Point (ESAP), which provides centralized access to publicly available information on financial services, capital markets and sustainability. The mandatory disclosure of crypto-assets for payment and investment purposes is related to the amendment to the DAC8 Directive.
ESAP is operated by the European Securities and Markets Authority (ESAP), and the transposition will increase administrative requirements for entrepreneurs and public administrations with the aim of better information on products and markets.
- Disclosure of information
The following persons carrying out activities related to securities trading or capital market activities shall submit information to the new European single access point:
| Entity | Kind of information |
| Securities dealer that is part of a financial conglomerate | Description of the legal form, management and organizational structure |
| Target company whose shares are the subject of a takeover bid | Information on the selection of the competent authority authorized to supervise the takeover bid |
| Offeror – legal entity or natural person that has taken the decision to make a takeover bid | Notice submitted to the board of directors of the target company and the NBS that it will make a takeover bid Draft takeover bid |
| Board of directors of the target company | Opinion on the takeover bid, including the opinion of the target company’s employee representatives |
| Asset manager | Principles of involving asset managers in the exercise of shareholder rights |
| Voting advisor | Information on the code of conduct and reports on its application and information on the preparation of analyses and advice on models and methodologies (which it applies, what resources it uses, procedures for ensuring risk quality, etc.) |
| Member of a subgroup | Information on the conclusion of a group support agreement and a description of the general terms and conditions of this agreement |
| Securities dealer that is not a small and unrelated dealer | Publication of documents other than financial statements through designated media, in particular on the website of the securities dealer |
| Parent securities dealer | Articles of association and list of shareholders with qualifying holdings in full or in the form of links to equivalent information for a group of securities dealers |
| Bank (Issuer) of Covered Bonds | The value of the cover pool, the maturity ratio and structure, market risk and other |
| Bank as Part of a Financial Conglomerate | A description of its legal form, management and organizational structure |
| Stock Exchange | A current list of its shareholders and members of the stock exchange and any change in its registered capital that results in an increase or decrease in shares |
The amendment extends the scope of application to electronic money and digital currencies of central banks. Therefore, the National Bank of Slovakia will also be obliged to make information available:
- information on remedial measures and fines
- information on the type of remedial measure and fine imposed, the nature of the violation, the name and surname, permanent address or business name, registered office and identification number of the person on whom the remedial measure or fine was imposed
- information on appeals filed against the decision to impose a fine
- information on the introduction of compulsory administration over a securities dealer, data on the compulsory administrator and his representative, the termination of compulsory administration over a securities dealer and the related changes are entered in the commercial register
This information will be made available for the first time after January 9, 2030.
The following documents will be made available on ESAP (a “specialized portal operated by the Finance Directorate”):
- ordinary individual financial statements
- extraordinary individual financial statements
- ordinary consolidated financial statements
- extraordinary consolidated financial statements
- auditors’ reports
- individual annual reports
- consolidated annual reports
- annual financial reports pursuant to a special regulation
- sustainability reports and assurance opinion documents
- assurance reports on sustainability reporting
These documents will only be required to be submitted by selected companies (unlike the register of financial statements where all accounting entities submit documents). These are the following companies:
Company | Conditions for submitting reports to ESAP* | |
| Bank (except NBS), reinsurance company and insurance company (except health insurance company) | in each of the two immediately preceding accounting periods it meets at least two of the following conditions: 1. the total amount of assets exceeded EUR 25,000,000 2. the net turnover exceeded EUR 50,000,000 3. the average number of employees during the accounting period exceeded 250 | issued securities which are admitted to trading on a regulated market of a Member State and in each of the two immediately preceding accounting periods fulfils at least two conditions: 1. the total amount of assets exceeded EUR 5,000,000 but did not exceed EUR 25,000,000 2. the net turnover exceeded EUR 10,000,000 but did not exceed EUR 50,000,000 3. the average number of employees during the accounting period exceeded 50 and did not exceed 250 |
| Trading company | ||
| Subsidiary with a foreign ultimate parent entity | the net turnover based on its consolidated financial statements achieved in the territory of the Slovak Republic and the territories of other Member States exceeded EUR 150,000,000 in each of the two immediately preceding accounting periods | |
| Organizational unit of a foreign entity | in the immediately preceding accounting period, its net turnover exceeded EUR 50,000,000 and the criteria of Condition 2 are also met | a foreign entity is: 1. a related foreign entity, where the net turnover of its foreign ultimate parent entity in the territory of the European Union exceeded EUR 150,000,000, based on its consolidated financial statements in each of the two immediately preceding accounting periods, or 2. a foreign independent entity, whose net turnover in the territory of the European Union exceeded EUR 150,000,000, based on its financial statements, in each of the two immediately preceding accounting periods |
| Parent entity that is a bank (excluding NBS), reinsurance company and insurance company (excluding health insurance company) | in each of the two immediately preceding accounting periods it meets at least two conditions: 1. the total amount of assets of the parent accounting entity and all its subsidiaries is greater than EUR 30,000,000 2. the net turnover of the parent accounting entity and all its subsidiaries is greater than EUR 60,000,000 3. the average calculated number of employees of the parent accounting entity and all its subsidiaries for the accounting period exceeded 250 | in each of the two immediately preceding accounting periods it meets at least two conditions: 1. the total amount of assets of the parent accounting entity and all its subsidiaries is greater than EUR 25,000,000 2. the net turnover of the parent accounting entity and all its subsidiaries is greater than EUR 50,000,000 3. the average calculated number of employees of the parent accounting entity and all its subsidiaries for the accounting period exceeded 250 |
| Parent entity that is a trading company | ||
* In selected cases, only one of the two conditions listed above is considered. The detailed examination is based on the interpretation of the Accounting Act.
The ESAP obligations have had the effect of incorporating the filing obligation for public joint-stock companies, banks, and stock exchanges into the Commercial Code, the Banking Act, and the Accounting Act. Detailed information about the ESAP procedure can be found on the European ESAP portal.
