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European Commission launches new online tool to exchange information

Press Release – 16 June 2017.

The Federation of European Credit Management Associations has issued the following press release:

The European Commission has launched a single platform to access information on companies registered in the EU member states.

This single platform links national business registers to facilitate cross-border trade and increase confidence and transparency in the EU Single Market. It provides information on companies registered in the EU without the need to request data from other countries which used to be cumbersome and costly for businesses.

Commissioner Věra Jourová explains: “When working together with other companies, businesses, consumers, investors and authorities want to quickly check whether these companies really exist, whether they are trustworthy and who is legally representing the company. The interconnection of business registers will contribute to a more transparent and trustworthy environment for making business in the Single Market.”

With the introduction of this new system, citizens, businesses and national authorities will be able to search for information filed by companies in their respective national registers. The service has been set up following the Directive 2012/17/EU of the European Parliament and the Council of 13 June 2012 amending Council Directive 89/666/EEC and Directives 2005/56/EC and 2009/101/EC of the European Parliament and of the Council as regards the interconnection of central, commercial and companies registers.

FECMA urges businesses to be informed and make use of this central register to verify data on customers prior to granting credit.

The business register search is available here.

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The Chartered Institute of Credit Management (CICM) was the founding member of the Federation of European Credit Management Associations (FECMA). Please click here if you require any additional information.