Recital 27

(27)Given the relevance of the Commission report to the European Parliament and to the Council on the implementation, functioning and effectiveness of ESAP for the possible adoption of a delegated act to postpone the inclusion on ESAP of information for which submission to the collection bodies is not yet required pursuant to this Regulation in application of Directive (EU) 2023/2864 of the European Parliament and of the Council ¹¹ and Regulation (EU) 2023/2869 of the European Parliament and of the Council ¹² , it is important that the Commission make use of the annual reports on the functioning of ESAP drawn up by ESMA and carry out appropriate consultations of the collection bodies and the relevant expert groups, notably the Expert Group of the European Securities Committee. The European Parliament and the Council should, where they consider it appropriate, be given ample opportunity to discuss the Commission’s report.