FEBIS Regulatory Committee, which is open to all FEBIS members, has already started 2021 with a very dense agenda program on the EU & Regulatory front. During calls held every fortnight, FEBIS Regulatory Committee members agreed on a number of key Roadmap issues on which they will concentrate for the first part of 2021 and also reacted to a never-ending intense EU legislative production.
Here are some of the major issues we are currently focusing upon:
- The European Single Access Point for company information (ESAP): the European Commission unveiled at the end of December 2020 an Impact Assessment on this proposed action, which aims at setting up a unique and centralised access point for company information in the EU. FEBIS sent an input paper to the Impact Assessment, asking for Business Information Providers to be considered as key actors and to be involved in forthcoming consultations, workshops, and discussions. The contributions sent to the initiative can be seen here. The European Commission has already unveiled the “formal” follow-up public consultation, which is running until March 3rd, 2021. FEBIS Regulatory Committee makes it a priority to work on a draft extensive FEBIS submission on this consultation
- The European Data Governance Act: unveiled at the end of November 2020, it aims at which aims at to strengthen data sharing mechanisms, to increase the availability of data and thus facilitate the creation of new products and services for the benefit of European consumers and businesses. FEBIS Regulatory Committee is currently working on a joint paper with ACCIS on the EU Data Governance Act, to stress the importance of better data sharing between public bodies and companies for business information purposes.
- Participation in EFRAG: EFRAG is the European Financial Reporting Advisory Group, which works as a consultative group to help the European Commission better foster the issue. They are currently focusing a lot of their efforts on the Non-Financial Reporting and the revision of the NFRD. FEBIS Regulatory Committee Senior Policy Advisers have attended some webinars organised by the EFRAG on the issue of non-financial reporting to help see how to integrate this very important topic into business information.
- Working Groups of the ICCR: FEBIS is a full member of the ICCR and has been contributing to a number of ICCR working groups and initiatives; The latest addition is that FEBIS will be represented in 3 of the ICCR Working Groups: Policy Development and Implementation, Policy Advocacy and International Cooperation and Research and Knowledge Management.