The European Commission has also adopted a Delegated Regulation with regard to RTS specifying information to be notified by investment firms, market operators and credit institutions. ESMA is required to develop an exhaustive list of information to be notified to the relevant competent authority by investment firms and credit institutions exercising their rights under the freedom to provide services or the freedom of establishment. The RTS are intended to provide certainty, clarity and predictability in the passport notification process for investment firms and to facilitate the review by competent authorities through the use of harmonised documents.