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Date: 18-Jan-2024 Category: Not Applicable State: Union Government Country: Europe

Decision of the EEA Joint Committee No 115/2021 of 19 March 2021 amending Annex IX (Financial services) to the EEA Agreement [2024/126]

Issued by EEA Joint Committee · Not Applicable

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Executive Summary & Key Takeaways

What it means

  • The EEA Joint Committee Decision No 115/2021 incorporates Commission Delegated Regulation (EU) 2020/1423 into the EEA Agreement's Annex IX (Financial services). This regulation concerns regulatory technical standards for central contact points within payment services.

Key Changes

  • Annex IX to the EEA Agreement is amended to include point 16ee, referencing Commission Delegated Regulation (EU) 2020/1423.
  • Commission Delegated Regulation (EU) 2020/1423 supplements Directive (EU) 2015/2366 regarding criteria for appointing central contact points within the field of payment services and their functions.
  • The Decision entered into force on 20 March 2021, provided that all notifications under Article 103(1) of the EEA Agreement have been made, or on the day of the entry into force of Decision of the EEA Joint Committee No 165/2019 of 14 June 2019, whichever is the later.
  • The authentic text of Delegated Regulation (EU) 2020/1423 in Icelandic and Norwegian languages will be published in the EEA Supplement to the Official Journal of the European Union.

Impact Analysis

Payment Service Providers

  • Action Item: Legal and compliance teams should analyze the requirements of Regulation (EU) 2020/1423 and implement necessary changes to comply with the standards for central contact points.

EEA Member States

  • Action Item: Relevant government agencies should update national laws and supervisory frameworks to reflect the requirements of Regulation (EU) 2020/1423.

Customers of Payment Services

  • Action Item: Customer service and communication strategies may need adjustment to reflect the role of central contact points.

Key Entities Referenced

EEA Joint Committee: The decision-making body responsible for amending the EEA Agreement. Commission Delegated Regulation (EU) 2020/1423: Regulation supplementing Directive (EU) 2015/2366 regarding regulatory technical standards on the criteria for appointing central contact points within the field of payment services and on the functions of those central contact points. Directive (EU) 2015/2366: Directive of the European Parliament and of the Council on payment services in the internal market. EEA Agreement: Agreement on the European Economic Area.
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Official Journal EN of the European Union L series 2024/126 18.1.2024 DECISION OF THE EEA JOINT COMMITTEE No 115/2021 of 19 March 2021 amending Annex IX (Financial services) to the EEA Agreement [2024/126] THE EEA JOINT COMMITTEE, Having regard to the Agreement on the European Economic Area (“the EEA Agreement”), and in particular Article 98 thereof, Whereas: (1) Commission Delegated Regulation (EU) 2020/1423 of 14 March 2019on supplementing Directive (EU) 2015/2366 of the European Parliament and of the Council with regard to regulatory technical standards on the criteria for appointing central contact points within the field of payment services and on the functions of those central contact points(1)is to be incorporated into the EEA Agreement. (2) Annex IX to the EEA Agreement should therefore be amended accordingly, HAS ADOPTED THIS DECISION: Article 1 The following point is inserted after point 16ed (Commission Delegated Regulation (EU) 2019/411) in Annex IX to the EEA Agreement: ‘16ee. 32020 R 1423: Commission Delegated Regulation (EU) 2020/1423 of 14 March 2019on supplementing Directive (EU) 2015/2366 of the European Parliament and of the Council with regard to regulatory technical standards on the criteria for appointing central contact points within the field of payment services and on the functions of those central contact points (OJ L 328, 9.10.2020, p. 1).’ Article 2 The text of Delegated Regulation (EU) 2020/1423 in the Icelandic and Norwegian languages, to be published in the EEA Supplement to the Official Journal of the European Union, shall be authentic. Article 3 This Decision shall enter into force on 20 March 2021, provided that all the notifications under Article 103(1) of the EEA Agreement have been made*, or on the day of the entry into force of Decision of the EEA Joint Committee No 165/2019 of 14 June 2019(2), whichever is the later. Article 4 This Decision shall be published in the EEA Section of, and in the EEA Supplement to, the Official Journal of the European Union. (1) OJ L 328, 9.10.2020, p. 1. * No constitutional requirements indicated. (2) OJ L 291, 10.11.2022, p. 50. ELI: http://data.europa.eu/eli/dec/2024/126/oj 1/2EN OJ L, 18.1.2024 Done at Brussels, 19 March 2021. For the EEA Joint Committee The President Clara GANSLANDT 2/2 ELI: http://data.europa.eu/eli/dec/2024/126/oj

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