Interpretative Communication on the European Single Electronic Format (ESEF)

What? The European Commission has adopted an Interpretative Communication on the European Single Electronic Format (ESEF) to be used by companies with securities listed in EU regulated markets for their annual financial reports.

When? The communication was adopted on 6 November 2020.

Why? From 2021 onwards, the European Single Electronic Format (ESEF) will become the electronic format for annual financial reports published by companies with securities listed in EU regulated markets. The aim of the ESEF is to make it easier for listed companies to meet transparency requirements and ultimately to enhance transparency on EU capital markets. More transparency and easier electronic use of information will ensure that investors get better information and are able to make more informed decisions about their investments. This, in turn, leads to more money flowing into EU capital markets, helping companies recover, grow and create new jobs. The communication clarifies how certain existing EU rules on the preparation, audit and publication of financial statements apply once the use of the ESEF becomes mandatory. It includes clarifications on the audit of ESEF-compliant financial statements, the use of an electronic signature, and listed companies’ responsibilities and liabilities for corporate reporting.

Want to know more? Read about the European Single Electronic Format and material available from the European Securities Market Authority (ESMA).