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1. By 10 January 2029 the Commission shall, in close cooperation with ESMA, and taking into account the annual reports referred to in Article 12, submit a report to the European Parliament and to the Council on the implementation, functioning and effectiveness of ESAP.

— Regulation (EU) No 537/2014 (Article 13a);

— Regulation (EU) No 600/2014 (Article 23a);

— Regulation (EU) 2015/760 (Article 25a);

— Regulation (EU) 2015/2365 (Article 32a);

— Regulation (EU) 2017/1131 (Article 37a);

— Regulation (EU) 2019/2033 (Article 46a);

— Regulation (EU) 2023/1114 (Article 110a);

— Regulation (EU) 2023/2631 (Article 15a);

— Directive 2002/87/EC (Article 30b);

— Directive 2004/25/EC (Article 16a);

— Directive 2006/43/EC (Article 20a);

— Directive 2007/36/EC (Article 14c);

— Directive 2009/138/EC (Article 304b);

— Directive 2011/61/EU (Article 69b);

— Directive 2013/36/EU (Article 116a);

— Directive 2014/59/EU (Article 128a);

— Directive 2014/65/EU (Article 87a);

— Directive (EU) 2016/97 (Article 40a);

— Directive (EU) 2016/2341 (Article 63a);

— Directive (EU) 2019/2034 (Article 44a);

— Directive (EU) 2019/2162 (Article 29a).

2. The report referred to in paragraph 1 shall address the following:

(a) the technical challenges faced by entities and by the collection bodies during the implementation of ESAP;

(b) the effectiveness of the information collection and transmission system for ESAP purposes;

(c) the operational resilience of ESAP against ICT risks and the reliability of the information made accessible on ESAP, including by means of qualified electronic seals;

(d) the costs incurred by entities and by the collection bodies, including an assessment of whether the collection bodies which are competent authorities have increased their supervisory fees as a result of the costs incurred because of ESAP;

(e) the costs incurred by ESMA as the operator of ESAP and the funding scheme of ESAP;

(f) the impact of ESAP on public access to entities’ information in the area of financial services, capital markets and sustainability;

(g) the impact of ESAP on entities’ visibility to cross-border investors, including the visibility of SMEs;

(h) the impact of ESAP on the market position of private data providers in the Union;

(i) the interoperability of ESAP with similar global platforms;

(j) the implementation and functioning of ESAP in relation to delegation of tasks in accordance with Article 5(8).

3. Taking into account the added value, technical challenges and expected costs, the report referred to in paragraph 1 shall include a cost-benefit analysis linked to future inclusion within the scope of this Regulation of possibly relevant information that is not yet accessible on ESAP at the time when the report is drawn up, thus resulting in a data gap. The report shall also include recommendations on the future development of ESAP.

4. The Commission shall adopt a delegated act in accordance with Article 14 amending the Union legislative acts referred to in the second subparagraph of this paragraph in order to postpone the inclusion on ESAP of information for which submission to ESAP is not yet required or permitted pursuant to Article 1(1), point (a), by a maximum of 36 months if the Commission concludes in the report referred to in paragraph 1 of this Article that there is evidence of severe and pervasive difficulties as regards the elements listed in paragraph 2, points (a) and (b), of this Article. The Union legislative acts referred to in the first subparagraph of this paragraph shall comprise the following:

— Regulation (EU) No 575/2013 (Article 434b);