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Recital 26

Recital 26

(26)The collection bodies should inform ESMA of any substantial practical difficulties identified in relation to the performance of their tasks. ESMA, in close cooperation with EBA and EIOPA, should monitor the functioning of ESAP and publish an annual report thereon, with the aim of ensuring that potential problems are made transparent and that appropriate action can be taken where necessary. The drawing up of the annual report on the functioning of ESAP by ESMA, in close cooperation with EBA and EIOPA, will also help to ensure that competent authorities are involved and that other stakeholders are consulted through the ad hoc task force, group or committee, as appropriate, to be established by ESMA.

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