Annexes to COM(2021)723 - European single access point providing centralised access to publicly available information of relevance to financial services, capital markets and sustainability - Main contents
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This page contains a limited version of this dossier in the EU Monitor.
| dossier | COM(2021)723 - European single access point providing centralised access to publicly available information of relevance to financial ... |
|---|---|
| document | COM(2021)723  |
| date | December 13, 2023 |
Whereas ESMA shall ensure that any natural or legal person have access to the information available on the ESAP free of charge, it is empowered by way of derogation to charge fees for specific services, especially in cases involving very large volume of frequently updated information. Those fees shall not exceed the cost incurred by ESMA for the provision of the specific service. Such service, associated development costs and fees, as well as their magnitude, depends on future decisions. As a result, this has no impact on the present assessment of the budgetary implications.
1.6.Duration and financial impact of the proposal/initiative
◻ limited duration
◻ Proposal/initiative in effect from [DD/MM]YYYY to [DD/MM]YYYY
◻ Financial impact from YYYY to YYYY
☑ unlimited duration
Implementation with a start-up period from 2022 to 2026,
followed by full-scale operation.
1.7.Management mode(s) planned 45
◻ Direct management by the Commission through
◻ executive agencies
◻ Shared management with the Member States
☑ Indirect management by entrusting budget implementation tasks to:
◻ international organisations and their agencies (to be specified);
◻the EIB and the European Investment Fund;
☑ bodies referred to in Articles 70 and 71;
◻ public law bodies;
◻ bodies governed by private law with a public service mission to the extent that they provide adequate financial guarantees;
◻ bodies governed by the private law of a Member State that are entrusted with the implementation of a public-private partnership and that provide adequate financial guarantees;
◻ persons entrusted with the implementation of specific actions in the CFSP pursuant to Title V of the TEU, and identified in the relevant basic act.
Comments
N/A
2. MANAGEMENT MEASURES
2.1.Monitoring and reporting rules
Specify frequency and conditions.
In line with already existing arrangements, the ESAs prepare regular reports on their activity (including internal reporting to Senior Management, reporting to Boards and the production of the annual report), and are subject to audits by the Court of Auditors and the Commission's Internal Audit Service on their use of resources and performance. Monitoring and reporting of the actions included in the proposal will comply with the already existing requirements, as well as with any new requirements resulting from this proposal.
2.2.Management and control system(s)
2.2.1.Justification of the management mode(s), the funding implementation mechanism(s), the payment modalities and the control strategy proposed
The European Securities and Markets Authority (ESMA) will manage the ESAP.
As regards the control strategy, ESMA works closely with the Commission’s Internal Audit Service to ensure that appropriate standards are met in all areas of internal control framework. Those arrangements will also apply to the role of the Agencies in respect of the current proposal.
In addition, every financial year, the European parliament, following a recommendation from the Council, and taking into account the findings of the European Court of Auditors, considers whether to grant discharge to the Agencies for their implementation of the budget.
2.2.2.Information concerning the risks identified and the internal control system(s) set up to mitigate them
In relation to the legal, economic, efficient and effective use of appropriations resulting from the actions to be carried out by the ESAs in the context of this proposal, this initiative does not bring about new significant risks that would not be covered by an existing internal control framework. The actions to be carried out in the context of this proposal will start in 2022, and will further continue.
2.2.3.Estimation and justification of the cost-effectiveness of the controls (ratio of "control costs ÷ value of the related funds managed"), and assessment of the expected levels of risk of error (at payment & at closure)
Management and control systems are provided in the Regulations currently governing the functioning of the ESAs and are deemed to be cost effective. The Regulation is regularly reviewed. Risks of error are expected to be low.
2.3.Measures to prevent fraud and irregularities
Specify existing or envisaged prevention and protection measures, e.g. from the Anti-Fraud Strategy.
For the purposes of combating fraud, corruption and any other illegal activity, the provisions of Regulation (EC) No 1073/1999 of the European Parliament and of the Council of 25 May 1999 concerning investigations conducted by the European Anti-Fraud Office (OLAF) shall apply to ESMA without any restrictions.
3. ESTIMATED FINANCIAL IMPACT OF THE PROPOSAL/INITIATIVE
3.1.Heading(s) of the multiannual financial framework and expenditure budget line(s) affected
Existing budget lines
In order of multiannual financial framework headings and budget lines.
| Heading of multiannual financial framework | Budget line | Type of expenditure | Contribution | |||
| Number | Diff./Non-diff. 46 | from EFTA countries 47 | from candidate countries 48 | from third countries | within the meaning of Article 21(2)(b) of the Financial Regulation | |
| 1 | DG CNECT: <02.04.03> | Diff. | YES | NO | NO | NO |
| 1 | ESMA: <03.10.04> | Diff. | NO | NO | NO | NO |
New budget lines requested
In order of multiannual financial framework headings and budget lines.
| Heading of multiannual financial framework | Budget line | Type of expenditure | Contribution | |||
| Number | Diff./non-diff. | from EFTA countries | from candidate countries | from third countries | within the meaning of Article 21(2)(b) of the Financial Regulation | |
| N/A |
3.2.Estimated impact on expenditure
3.2.1.Summary of estimated impact on expenditure
EUR million (to three decimal places)
| Heading of multiannual financial framework | Number | Heading 1 : Single Market, Innovation & Digital |
| ESMA: <03.10.04> | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | TOTAL | ||
| Title 1: | Commitments | (1) | 0.096 | 0.195 | 0.199 | 0.203 | 0.693 | ||
| Payments | (2) | 0.096 | 0.195 | 0.199 | 0.203 | 0.693 | |||
| Title 2: | Commitments | (1a) | 0.017 | 0.035 | 0.036 | 0.036 | 0.124 | ||
| Payments | (2a) | 0.017 | 0.035 | 0.036 | 0.036 | 0.124 | |||
| Title 3: | Commitments | (3a) | 0.894 | 0.849 | 1.159 | 0.838 | 3.740 | ||
| Payments | (3b) | 0.894 | 0.849 | 1.159 | 0.838 | 3.740 | |||
| TOTAL appropriations for ESMA: <03.10.04> | Commitments | =1+1a +3a | 1.007 | 1.079 | 1.394 | 1.077 | 4.557 | ||
| Payments | =2+2a +3b | 1.007 | 1.079 | 1.394 | 1.077 | 4.557 |
| DG CNECT: <02.04> | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | TOTAL | ||
| ·Operational appropriations | |||||||||
| Budget line: <02.04.03> | Commitments | (1a) | 2.000 49 | 3.000 50 | 5.000 | ||||
| Payments | (2a) | 0.500 | 4.500 | 5.000 | |||||
| Budget line | Commitments | (1b) | |||||||
| Payments | (2b) | ||||||||
| Appropriations of an administrative nature financed from the envelope of specific programmes 51 | |||||||||
| Budget line | (3) | ||||||||
| TOTAL appropriations for DG CNECT: <02.04> | Commitments | =1a+1b +3 | |||||||
| Payments | =2a+2b +3 | ||||||||
| ·TOTAL operational appropriations | Commitments | (4) | 2.000 | 3.000 | 5.000 | ||||
| Payments | (5) | 0.500 | 4.500 | 5.000 | |||||
| ·TOTAL appropriations of an administrative nature financed from the envelope of specific programmes | (6) | ||||||||
| TOTAL appropriations under HEADING 1 of the multiannual financial framework | Commitments | =4+ 6 | 2.000 | 3.000 | 1.007 | 1.079 | 1.394 | 1.077 | 9.557 |
| Payments | =5+ 6 | 0.500 | 4.500 | 1.007 | 1.079 | 1.394 | 1.077 | 9.557 |
| ·TOTAL operational appropriations (all operational headings) | Commitments | (4) | 2.000 | 3.000 | 1.007 | 1.079 | 1.394 | 1.077 | 9.557 |
| Payments | (5) | 0.500 | 4.500 | 1.007 | 1.079 | 1.394 | 1.077 | 9.557 | |
| TOTAL appropriations of an administrative nature financed from the envelope of specific programmes (all operational headings) | (6) | ||||||||
| TOTAL appropriations under HEADINGS 1 to 6 of the multiannual financial framework (Reference amount) | Commitments | =4+ 6 | 2.000 | 3.000 | 1.007 | 1.079 | 1.394 | 1.077 | 9.557 |
| Payments | =5+ 6 | 0.500 | 4.500 | 1.007 | 1.079 | 1.394 | 1.077 | 9.557 |
Heading of multiannual financial framework | 7 | ‘Administrative expenditure’ |
EUR million (to three decimal places)
| 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | TOTAL | |||
| DG: <…….> | |||||||||
| • Human Resources | |||||||||
| • Other administrative expenditure | |||||||||
| TOTAL DG <…….> | Appropriations |
| TOTAL appropriations under HEADING 7 of the multiannual financial framework | (Total commitments = Total payments) |
EUR million (to three decimal places)
| 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | TOTAL | |||
| TOTAL appropriations under HEADINGS 1 to 7 of the multiannual financial framework | Commitments | 2.000 | 3.000 | 1.007 | 1.079 | 1.394 | 1.077 | 9.557 | |
| Payments | 0.500 | 4.500 | 1.007 | 1.079 | 1.394 | 1.077 | 9.557 |
3.2.2.Estimated impact on ESMA's appropriations
◻ The proposal/initiative does not require the use of operational appropriations
☑ The proposal/initiative requires the use of operational appropriations, as explained below:
Commitment appropriations in EUR million (to three decimal places)
| Indicate objectives and outputs ⇩ | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | TOTAL | |||||||||
| OUTPUTS | ||||||||||||||||
| Type 52 | Average cost | No | Cost | No | Cost | No | Cost 53 | No | Cost | No | Cost | No | Cost | Total No | Total cost | |
| SPECIFIC OBJECTIVE No 1: Establishment of the European Single Access Point | ||||||||||||||||
| - Output | IT System | 3.489 | 1 | 0.894 | 1 | 0.849 | 1 | 1.159 | 1 | 0.838 | 1 | 3.740 | ||||
| - Output | ||||||||||||||||
| Subtotal for specific objective No 1 | 1 | 0.894 | 1 | 0.849 | 1 | 1.159 | 1 | 0.838 | 1 | 3.740 | ||||||
| SPECIFIC OBJECTIVE No 2 ... | ||||||||||||||||
| - Output | ||||||||||||||||
| Subtotal for specific objective No 2 | ||||||||||||||||
| TOTAL COST | 1 | 0.894 | 1 | 0.849 | 1 | 1.159 | 1 | 0.838 | 1 | 3.740 |
3.2.3.Estimated impact on ESMA's human resources
3.2.3.1.Summary
◻ The proposal/initiative does not require the use of appropriations of an administrative nature
☑ The proposal/initiative requires the use of appropriations of an administrative nature, as explained below:
EUR million (to three decimal places)
| 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | TOTAL |
| Temporary agents (AD Grades) | 0.096 | 0.195 | 0.199 | 0.203 | 0.693 | ||
| Temporary agents (AST grades) | |||||||
| Contract staff | 0.210 54 | 0.210 | |||||
| Seconded National Experts |
| TOTAL | 0.210 | 0.096 | 0.195 | 0.199 | 0.203 | 0.903 |
Staff requirements (FTE):
| 2022 | 2023 | 2024 55 | 2025 | 2026 | 2027 | TOTAL |
| Temporary agents (AD Grades) | 3 | 3 | 3 | 3 | 3 | ||
| Temporary agents (AST grades) | |||||||
| Contract staff | 3 | 3 | |||||
| Seconded National Experts |
| TOTAL | 3 | 3 | 3 | 3 | 3 | 3 |
3.2.3.2.Estimated requirements of human resources for the parent DG
☑ The proposal/initiative does not require the use of human resources.
◻ The proposal/initiative requires the use of human resources, as explained below:
Estimate to be expressed in full amounts (or at most to one decimal place)
| Year N | Year N+1 | Year N+2 | Year N+3 | Enter as many years as necessary to show the duration of the impact (see point 1.6) | ||||
| ·Establishment plan posts (officials and temporary staff) | ||||||||
| 20 01 02 01 and 20 01 02 02 (Headquarters and Commission’s Representation Offices) | ||||||||
| 20 01 02 03 (Delegations) | ||||||||
| 01 01 01 01 (Indirect research) | ||||||||
| 10 01 05 01 (Direct research) | ||||||||
| • External staff (in Full Time Equivalent unit: FTE) 56 | ||||||||
| 20 02 01 (AC, END, INT from the ‘global envelope’) | ||||||||
| 20 02 03 (AC, AL, END, INT and JPD in the Delegations) | ||||||||
| Budget line(s) (specify) 57 | - at Headquarters 58 | |||||||
| - in Delegations | ||||||||
| 01 01 01 02 (AC, END, INT – Indirect research) | ||||||||
| 10 01 05 02 (AC, END, INT – Direct research) | ||||||||
| Other budget lines (specify) | ||||||||
| TOTAL |
The human resources required will be met by staff from the DG who are already assigned to management of the action and/or have been redeployed within the DG, together if necessary with any additional allocation which may be granted to the managing DG under the annual allocation procedure and in the light of budgetary constraints.
Description of tasks to be carried out:
| Officials and temporary staff | |
| External staff |
Description of the calculation of cost for FTE units should be included in the Annex V, section 3.
3.2.4.Compatibility with the current multiannual financial framework
◻ The proposal/initiative is compatible the current multiannual financial framework.
☑ The proposal/initiative will entail reprogramming of the relevant heading in the multiannual financial framework.
Explain what reprogramming is required, specifying the budget lines concerned and the corresponding amounts.
Minor recourse to the margin under heading 1 will be required to increase the programming for Union contributions to ESMA <Budget line 03.10.04> by EUR 4.557 million (in current prices) over the course of the MFF 2021-2027, consisting of EUR 1.007 million in 2024, EUR 1.079 million in 2025, EUR 1.394 million in 2026 and EUR 1.077 million in 2027.
◻ The proposal/initiative requires application of the flexibility instrument or revision of the multiannual financial framework 59 .
Explain what is required, specifying the headings and budget lines concerned and the corresponding amounts.
[…]
3.2.5.Third-party contributions
The proposal/initiative does not provide for co-financing by third parties.
The proposal/initiative provides for the co-financing estimated below:
EUR million (to three decimal places)
| 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | Total | |
| National Competent Authorities’ contributions in accordance with the standard funding formula for ESMA as set out in recital 68 of the founding Regulation 1095/2010 60 | 1.528 | 1.656 | 2.128 | 1.536 | 6.848 | ||
| TOTAL appropriations co-financed | 1.528 | 1.656 | 2.128 | 1.536 | 6.848 |
3.3.Estimated impact on revenue
☑ The proposal/initiative has no financial impact on revenue.
◻ The proposal/initiative has the following financial impact:
◻ on own resources
◻ on other revenue
◻ please indicate, if the revenue is assigned to expenditure lines
EUR million (to three decimal places)
| Budget revenue line: | Appropriations available for the current financial year | Impact of the proposal/initiative 61 | ||||||
| Year N | Year N+1 | Year N+2 | Year N+3 | Enter as many years as necessary to show the duration of the impact (see point 1.6) | ||||
| Article …………. |
For miscellaneous ‘assigned’ revenue, specify the budget expenditure line(s) affected.
[…]
Specify the method for calculating the impact on revenue.
[…]
Annex to the Legislative Financial Statement
The forecast impact on the Union budget following the assumed entry into force of the proposed legislation in early 2024 was estimated on the following basis:
Title I – Staff Expenditure
The three additional temporary agents that it is estimated ESMA would need to oversee the development, maintenance and operation of the ESAP, are to be hired at the entry grade AD5. They are assumed (on average) to take up post at the start of July and are consequently budgeted for 6 months in 2024 and for full years thereafter.
The estimated cost of each Temporary Agent was calculated as the standard average cost of Temporary Agents to be used in the estimates of personnel costs in Legislative Financial Statements prepared in 2021 (EUR 152 000) less the standard (EUR 25 000) allowance for building and IT costs (‘habillage’) included in that standard average costing (i.e. EUR 127 000) adjusted by the correction coefficient applicable to Paris (120.5) and adjusted for an assumed inflation of 2% after 2022 62 .
Title II – Infrastructure and operating expenditure
Costs were estimated by multiplying the number of staff by the proportion of the year employed by the standard cost for ‘habillage’, i.e. EUR 25 000 plus EUR 2 500 per staff member to cover other administrative expenses both of which adjusted for an assumed inflation of 2% after 2022.
Title III – Operational expenditure
Expenditures correspond to an infrastructure that should enable the functionalities and specifications laid down by legislation for the ESAP, and ensure the technical interoperability 63 of the system. It should ensure smooth and high quality of service, security of storage and communication, reliable access, etc. The technical design of the infrastructure will be a prerogative of the governing body of the ESAP, and therefore this Annex provides a couple of suggested realistic avenues, which are retained as a basis for the costs assumptions.
The indicative costs are those in 5 phases to be implemented from mid-2022 until 2027, including: Proof of Concept, Work on functionalities and capabilities development, Licence fees, system maintenance, Cloud compute / storage / network costs.
The estimated costs have been adjusted for an assumed inflation of 2% after 2022.
(1) Communication from the Commission to the European Parliament, the Council, the European Economic and Social Committee and the Committee of the Regions, A capital markets union for people and businesses-new action plan, 24.9.2020, COM/2020/590 final.
(2) Communication from the Commission to the European Parliament, the Council, the European Economic and Social Committee and the Committee of the Regions, A digital finance strategy for the EU, 24.09.2020, COM/2020/591 final.
(3) Directive (EU) 2017/1132 of the European Parliament and of the Council of 14 June 2017 relating to certain aspects of company law. (OJ L 169, 30.6.2017, p. 46).
(4) https://e-justice.europa.eu/489/EN/business_registers__search_for_a_company_in_the_eu
(5) Communication from the Commission to the European Parliament, the Council, the European Economic and Social Committee and the Committee of the Regions, A European strategy for data, 19.02.2020, COM/2020/66 final.
(6) Communication from the Commission to the European Parliament, the Council, the European Economic and Social Committee and the Committee of the Regions, Strategy for financing the transition to a sustainable economy, 06.07.2021, COM/2021/390 final .
(7) Communication from the Commission to the European Parliament, the European Council, the Council, the European Economic and Social Committee and the Committee of the Regions, The European green deal, 11.12.2019, COM/2019/640 final.
(8) Communication from the Commission to the European Parliament, the Council, the European Economic and Social Committee and the Committee of the Regions, A capital markets union for people and businesses-new action plan, 24.9.2020, COM/2020/590 final.
(9) SWD/2021/81 final, 21 April 2021.
(10) SWD(2021)344.
(11) The HLF recommended that ESAP should provide access “to entities’ public financial and non-financial information, as well as other financial product or activity-relevant public information […], which shall be freely accessible to the public and free of fees or license use.” See Final Report of the High Level Forum on the Capital Markets Union: A New Vision for Europe’s Capital markets, June 2020.
(12) ISBN 978-92-76-13304-9.
(13) ISBN 978-92-76-13305-6.
(14) ISBN 978-92-76-25267-2.
(15) Regulation (EU) 2016/679 of the European Parliament and of the Council of 27 April 2016 on the protection of natural persons with regard to the processing of personal data and on the free movement of such data, and repealing Directive 95/46/EC (General Data Protection Regulation) (OJ L 119, 4.5.2016, p. 1).
(16) This planning is without prejudice to adoption process for the following Work Programme (2023-2024), and in particular, assessments on the prioritisation for funding and agreement of the respective Programme Committee.
(17) Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648/2012 (OJ L 176, 27.6.2013, p. 1).
(18) See the Commission’s proposals for a Regulation amending Regulation (EU) No 575/2013 as regards requirements for credit risk, credit valuation adjustment risk, operational risk, market risk and the output floor, in particular the amendments to Article 433.
(19) See Article 21 of Directive 2004/109/EC of the European Parliament and of the Council of 15 December 2004 as amended.
(20) SWD(2021) 305 final, 3 November 2021.
(21) OJ C [...], [...], p. [...].
(22) Communication from the Commission to the European Parliament, the Council, the European Economic and Social Committee and the Committee of the Regions, A capital markets union for people and businesses-new action plan, 24.9.2020, COM/2020/590 final.
(23) Communication from the Commission to the European Parliament, the Council, the European Economic and Social Committee and the Committee of the Regions, A digital finance strategy for the EU, 24.09.2020, COM/2020/591 final.
(24) Communication from the Commission to the European Parliament, the Council, the European Economic and Social Committee and the Committee of the Regions, Strategy for financing the transition to a sustainable economy, 06.07.2021, COM/2021/390 final.
(25) Communication from the Commission to the European Parliament, the European Council, the Council, the European Economic and Social Committee and the Committee of the Regions, The European green deal, 11.12.2019, COM/2019/640 final.
(26) Regulation (EU) 2016/679 of the European Parliament and of the Council of 27 April 2016 on the protection of natural persons with regard to the processing of personal data and on the free movement of such data, and repealing Directive 95/46/EC (General Data Protection Regulation) (OJ L 119, 4.5.2016, p. 1).
(27) Directive (EU) 2019/1024 of the European Parliament and of the Council of 20 June 2019 on open data and the re-use of public sector information (OJ L 172, 26.6.2019, p. 56).
(28) Regulation (EU) 2018/1725 of the European Parliament and of the Council of 23 October 2018 on the protection of natural persons with regard to the processing of personal data by the Union institutions, bodies, offices and agencies and on the free movement of such data, and repealing Regulation (EC) No 45/2001 and Decision No 1247/2002/EC (OJ L 295, 21.11.2018, p. 39).
(29) Regulation (EU) No 910/2014 of the European Parliament and of the Council of 23 July 2014 on electronic identification and trust services for electronic transactions in the internal market and repealing Directive 1999/93/EC (OJ L 257, 28.8.2014, p. 73).
(30) Regulation (EU) No 1093/2010 of the European Parliament and of the Council of 24 November 2010 establishing a European Supervisory Authority (European Banking Authority), amending Decision No 716/2009/EC and repealing Commission Decision 2009/78/EC (OJ L 331, 15.12.2010, p. 12).
(31) Regulation (EU) No 1094/2010 of the European Parliament and of the Council of 24 November 2010 establishing a European Supervisory Authority (European Insurance and Occupational Pensions Authority), amending Decision No 716/2009/EC and repealing Commission Decision 2009/79/EC (OJ L 331, 15.12.2010, p. 48).
(32) Regulation (EU) No 1095/2010 of the European Parliament and of the Council of 24 November 2010 establishing a European Supervisory Authority (European Securities and Markets Authority), amending Decision No 716/2009/EC and repealing Commission Decision 2009/77/EC (OJ L 331, 15.12.2010, p. 84).
(33) Directive 96/9/EC of the European Parliament and of the Council of 11 March 1996 on the legal protection of databases (OJ L 77, 27.3.1996, p. 20).
(34) Regulation (EC) No 223/2009 of the European Parliament and of the Council of 11 March 2009 on European statistics and repealing Regulation (EC, Euratom) No 1101/2008 of the European Parliament and of the Council on the transmission of data subject to statistical confidentiality to the Statistical Office of the European Communities, Council Regulation (EC) No 322/97 on Community Statistics, and Council Decision 89/382/EEC, Euratom establishing a Committee on the Statistical Programmes of the European Communities (OJ L 87, 31.3.2009, p. 164).
(35) Directive 2014/59/EU of the European Parliament and of the Council of 15 May 2014 establishing a framework for the recovery and resolution of credit institutions and investment firms and amending Council Directive 82/891/EEC, and Directives 2001/24/EC, 2002/47/EC, 2004/25/EC, 2005/56/EC, 2007/36/EC, 2011/35/EU, 2012/30/EU and 2013/36/EU, and Regulations (EU) No 1093/2010 and (EU) No 648/2012, of the European Parliament and of the Council (OJ L 173, 12.6.2014, p. 190).
(36) As referred to in Article 58(2)(a) or (b)of the Regulation.
(37) Formats specified at Union level include the formats laid down in Commission Delegated Regulation (EU) 2019/815 of 17 December 2018 on the European Single Electronic Format (ESEF).
(38) As per the Digital Finance strategy: “By 2024, information to be publically released under EU financial services legislation should be disclosed in standardised and machine-readable formats” – Communication from the Commission to the European Parliament, the Council, the European Economic and Social Committee and the Committee of the Regions on a digital finance strategy for the EU, COM/2020/591 final
(39) Commission priorities for 2019-24 , A Europe fit for the digital age .
(40) Communication: A European strategy for data , European Commission, 19.02.2020.
(41) COM(2020) 591 final of 24.9.2020.
(42) Communication: The European Green Deal , European Commission, 11.12.2019.
(43) Finance Package, Communication: Digital Finance Strategy , European Commission, 24.09.2020.
(44) Communication : A Capital Markets Union for people and businesses-new action plan , 24.09.2020.
(45) Details of management modes and references to the Financial Regulation may be found on the BudgWeb site: https://myintracomm.ec.europa.eu/budgweb/EN/man/budgmanag/Pages/budgmanag.aspx .
(46) Diff. = Differentiated appropriations / Non-diff. = Non-differentiated appropriations.
(47) EFTA: European Free Trade Association.
(48) Candidate countries and, where applicable, potential candidates from the Western Balkans.
(49) As foreseen in section 2.2.1.9 ’Preparatory actions for the Financial Data Space’ of the Annex to the Commission Implementing Decision on the financing of the Digital Europe Programme and the adoption of the multiannual work programme for 2021 - 2022, 10.11.2021, C(2021) 7914 final.
(50) For planning purposes it is forecast that ESMA’s costs in 2023 (i.e. before the proposed legislation is foreseen to enter into force) could be financed from a contribution agreement between the Commission and ESMA with funding from the Digital Europe Programme. This planning is without prejudice to adoption process for the following Work Programme (2023-2024), and in particular, assessments on the prioritisation for funding and agreement of the respective Programme Committee.
(51) Technical and/or administrative assistance and expenditure in support of the implementation of EU programmes and/or actions (former ‘BA’ lines), indirect research, direct research.
(52) Outputs are products and services to be supplied (e.g.: number of student exchanges financed, number of km of roads built, etc.).
(53) Cost to Union budget, excluding contribution of National Competent Authorities, and excluding foreseen contribution from the Digital Europe Programme.
(54) Full cost (including pension contribution) of 3 CAs for 12 months which, without prejudice to future decision making and adoption of the required Financing Decision, for working purposes is assumed to be covered by a contribution agreement financed from the Digital Europe Programme.
(55) Recruitment foreseen for July and as such 50% of the average cost is taken into account for 2024.
(56) AC = Contract Staff; AL = Local Staff; END = Seconded National Expert; INT = agency staff; JPD = Junior Professionals in Delegations.
(57) Sub-ceiling for external staff covered by operational appropriations (former ‘BA’ lines).
(58) Mainly for the EU Cohesion Policy Funds, the European Agricultural Fund for Rural Development (EAFRD) and the European Maritime Fisheries and Aquaculture Fund (EMFAF).
(59) See Articles 12 and 13 of Council Regulation (EU, Euratom) No 2093/2020 of 17 December 2020 laying down the multiannual financial framework for the years 2021 to 2027.
(60) i.e. 40% Union contribution to 60% Member State National Competent Authority (NCA) contribution together with the NCA share of employers pension contributions.
(61) As regards traditional own resources (customs duties, sugar levies), the amounts indicated must be net amounts, i.e. gross amounts after deduction of 20 % for collection costs.
(62) The share of the employer’s pension contributions corresponding to the proportion of Member State National Competent Authority (NCA) contributions as foreseen in recital 68 of the ESMA founding Regulation 1095/2010 was included in the estimate of the NCA contributions in section 3.2.5 of the LFS.
(63) Technical interoperability” covers the applications and infrastructures linking systems and services, including aspects such as interface specifications, interconnection services, data presentation and exchange, and secure communication protocols.