The opening of proceedings by the EC means that Poland has two months to fully implement EU regulations. If this does not happen, in the next step, the EC may direct a legitimate opinion to the government, and at a further stage – turn to the Court of Justice of the EU with a complaint.
The proceedings regarding the European single access point to information on financial services were initiated together to 15 Member States. It is about the issue of establishing and operating a European single access point (ESAP), which is to improve access to data for potential investors. ESAP is to collect and provide information on entities and their products when this information is important for financial services, capital markets and sustainable development.
EU regulations provide for three phases of ESAP development. The first stage will start in July 2026. Then the information, published in accordance with the Directive on transparency, as well as the Regulation on the issue of the issue of the issue of the issue of the issue of the issue prospectus and the regulation on short sales, will begin to be transferred to the competent domestic authorities in order to provide them under ESAP. As part of this first step, the Member States had to translate the changes introduced in the Directive on transparency until July 10, 2025.
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In the background, regulations preventing money laundering
In turn, the European Commission initiated the proceedings in relation to the provisions preventing money laundering against 11 Member States. It is about the sixth directive in this matter, regarding the mechanisms that Member States should introduce to prevent the use of the financial system for money laundering or financing terrorism. The provisions of this directive are addressed to the Member States, their supervisory authorities and financial analytics units.
Basically, Member States must translate most of the directive by July 10, 2027 to the first date, which passed on July 10 this year, the countries had to guarantee access to information on the beneficiaries of real legal entities, trust or similar agreements (including the access of persons with a legitimate interest in a given case).
The third procedure launched against Poland on Thursday concerns the failure of the EC Executive Directive regarding the minimum depth of the marking of firearms and its significant components from 2024. It changed the previous directive of 2019, which did not include a requirement for a minimum depth of markings. The new directive reads that in order to adapt to the standards in force in the most important markets of firearm exports for civil use (United States and Canada), a technical specification should be adopted, providing for a minimum depth of marking of 0.0762 millimeters.
