The Decree-Law entered into force on 01/09/26. The ESAP-related obligations take effect in phases, beginning on 10/07/26, 10/01/26 and 10/01/30
In this Legal Update, we highlight the changes introduced by Decree-Law 171/2026 of August 26 (the “Decree-Law”), which partially transposes into Portuguese law Directive (EU) 2023/2864 as regards the establishment and functioning of the European Single Access Point (“ESAP”). ESAP is a centralized European digital platform providing the public with free electronic access to financial, non-financial and sustainability information on entities and products relevant to financial services and capital markets. To implement the ESAP framework, the Decree-Law amends the Portuguese Companies Code, the Portuguese Securities Code and various financial sector regimes. The Decree-Law entered into force on September 1, 2026, while the ESAP-related obligations will take effect in phases through January 10, 2030.
By bringing all existing information together in one place, ESAP aims to improve and increase entities’ visibility, particularly that of small and medium-sized enterprises (SMEs). It also seeks to facilitate informed investment decisions without imposing new substantive disclosure obligations. The Decree-Law affects a broad range of entities, including issuers, financial intermediaries, investment firms, credit institutions, asset managers, insurers and reinsurers, pension fund managers, and certified auditors.
For a broader overview of the changes to the Portuguese Securities Code and various financial sector regimes introduced by the Decree-Law, see our Legal Update Amendments to Portuguese Securities Code, published on September 14, 2026.