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Date: 21-Mar-2024 Category: Not Applicable State: Union Government Country: Europe

Decision of the EEA Joint Committee No 183/2023 of 5 July 2023 amending Annex IX (Financial services) to the EEA Agreement [2024/810]

Issued by EEA Joint Committee · Not Applicable

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Executive Summary & Key Takeaways

What it means

  • The EEA Joint Committee Decision No 183/2023 amends Annex IX (Financial services) to the EEA Agreement to incorporate Commission Delegated Regulations (EU) 2022/2402 and (EU) 2022/2403, which correct certain language versions of existing regulations related to financial services.

Key Changes

  • Commission Delegated Regulation (EU) 2022/2402, which corrects language versions of Delegated Regulation (EU) 2017/1018 supplementing Directive 2014/65/EU regarding information to be notified by investment firms, market operators, and credit institutions, is incorporated into the EEA Agreement.
  • Commission Delegated Regulation (EU) 2022/2403, which corrects language versions of Delegated Regulation (EU) No 1151/2014 supplementing Directive 2013/36/EU regarding information to be notified when exercising the right of establishment and the freedom to provide services, is incorporated into the EEA Agreement.
  • The amendments are reflected by adding specific references to Regulations (EU) 2022/2402 and (EU) 2022/2403 within Annex IX to the EEA Agreement, specifically in points 14d and 31bazp.
  • The decision entered into force on 6 July 2023, provided that all notifications under Article 103(1) of the EEA Agreement have been made.

Impact Analysis

Impact on Financial Institutions

  • Action Item: Review internal compliance procedures to ensure alignment with the corrected language versions of Delegated Regulations (EU) 2017/1018 and (EU) No 1151/2014.

Impact on EEA Member States

  • Action Item: Ensure national regulations reflect the updated references to Commission Delegated Regulations (EU) 2022/2402 and (EU) 2022/2403.

Impact on Regulators

  • Action Item: Update regulatory guidance and supervisory practices to reflect the incorporated regulations.

Key Entities Referenced

EEA Joint Committee: The body responsible for amending the EEA Agreement. European Commission: The executive branch of the European Union, responsible for proposing and implementing legislation. Commission Delegated Regulation (EU) 2022/2402: Corrects language versions of Delegated Regulation (EU) 2017/1018 supplementing Directive 2014/65/EU regarding information to be notified by investment firms, market operators, and credit institutions. Commission Delegated Regulation (EU) 2022/2403: Corrects language versions of Delegated Regulation (EU) No 1151/2014 supplementing Directive 2013/36/EU regarding information to be notified when exercising the right of establishment and the freedom to provide services. Delegated Regulation (EU) 2017/1018: Supplements Directive 2014/65/EU on markets in financial instruments with regard to regulatory technical standards specifying information to be notified by investment firms, market operators and credit institutions. Delegated Regulation (EU) No 1151/2014: Supplements Directive 2013/36/EU with regard to regulatory technical standards on the information to be notified when exercising the right of establishment and the freedom to provide services. Directive 2014/65/EU: Directive of the European Parliament and of the Council on markets in financial instruments. Directive 2013/36/EU: Directive of the European Parliament and of the Council on access to the activity of credit institutions and the prudential supervision of credit institutions and investment firms. EEA Agreement: Agreement on the European Economic Area.
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Official Journal EN of the European Union L series 2024/810 21.3.2024 DECISION OF THE EEA JOINT COMMITTEE No 183/2023 of 5 July 2023 amending Annex IX (Financial services) to the EEA Agreement [2024/810] 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) 2022/2402 of 16 August 2022 correcting certain language versions of Delegated Regulation (EU) 2017/1018 supplementing Directive 2014/65/EU of the European Parliament and of the Council on markets in financial instruments with regard to regulatory technical standards specifying information to be notified by investment firms, market operators and credit institutions(1) is to be incorporated into the EEA Agreement. (2) Commission Delegated Regulation (EU) 2022/2403 of 16 August 2022 correcting certain language versions of Delegated Regulation (EU) No 1151/2014 supplementing Directive 2013/36/EU of the European Parliament and of the Council with regard to regulatory technical standards on the information to be notified when exercising the right of establishment and the freedom to provide services(2)is to be incorporated into the EEA Agreement. (3) Annex IX to the EEA Agreement should therefore be amended accordingly, HAS ADOPTED THIS DECISION: Article 1 Annex IX to the EEA Agreement shall be amended as follows: 1. The following indent is added in point 14d (Commission Delegated Regulation (EU) No 1151/2014): ‘— 32022 R 2403: Commission Delegated Regulation (EU) 2022/2403 of 16 August 2022 (OJ L 317, 9.12.2022, p. 41).’ 2. The following is added in point 31bazp (Commission Delegated Regulation (EU) 2017/1018): ‘, as amended by: — 32022 R 2402: Commission Delegated Regulation (EU) 2022/2402 of 16 August 2022 (OJ L 317, 9.12.2022, p. 39).’ Article 2 The texts of Delegated Regulations (EU) 2022/2402 and (EU) 2022/2403 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 6 July 2023, provided that all the notifications under Article 103(1) of the EEA Agreement have been made*. (1) OJ L 317, 9.12.2022, p. 39. (2) OJ L 317, 9.12.2022, p. 41. * No constitutional requirements indicated. ELI: http://data.europa.eu/eli/dec/2024/810/oj 1/2EN OJ L, 21.3.2024 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. Done at Brussels, 5 July 2023. For the EEA Joint Committee The President Pascal SCHAFHAUSER 2/2 ELI: http://data.europa.eu/eli/dec/2024/810/oj

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