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Date: 8-Feb-2024 Category: Not Applicable State: Union Government Country: Europe

Decision of the EEA Joint Committee No 217/2021 of 9 July 2021 amending Annex IX (Financial services) to the EEA Agreement [2024/276]

Issued by EEA Joint Committee · Not Applicable

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Executive Summary & Key Takeaways

What it means

  • The EEA Joint Committee Decision No 217/2021 amends Annex IX (Financial services) to the EEA Agreement to incorporate Commission Delegated Regulation (EU) 2021/529.
  • Commission Delegated Regulation (EU) 2021/529 adjusts liquidity thresholds and trade percentiles used to determine the size specific to the instrument applicable to certain non-equity instruments.

Key Changes

  • Point 31baz of Annex IX to the EEA Agreement is updated to include Commission Delegated Regulation (EU) 2021/529.
  • Commission Delegated Regulation (EU) 2021/529 of 18 December 2020 (OJ L 106, 26.3.2021, p. 47) is now part of the EEA Agreement through this amendment.
  • The Decision entered into force on 10 July 2021, after notifications under Article 103(1) of the EEA Agreement were completed.

Impact Analysis

Financial Institutions operating within the EEA

  • Implement updated reporting mechanisms to reflect the changes in liquidity thresholds and trade percentiles.

EEA Regulators

  • Monitor the impact of the adjusted liquidity thresholds and trade percentiles on the non-equity instrument market.

Market Participants

  • Monitor market dynamics and liquidity conditions following the implementation of the changes.

Key Entities Referenced

EEA Joint Committee: The body responsible for adopting decisions related to the EEA Agreement. European Commission: The executive branch of the European Union, responsible for proposing and implementing legislation. Commission Delegated Regulation (EU) 2021/529: Regulation establishing regulatory technical standards amending Delegated Regulation (EU) 2017/583 as regards adjustment of liquidity thresholds and trade percentiles used to determine the size specific to the instrument applicable to certain non-equity instruments. Delegated Regulation (EU) 2017/583: Original regulation being amended by Commission Delegated Regulation (EU) 2021/529. EEA Agreement: The Agreement on the European Economic Area.
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Official Journal EN of the European Union L series 2024/276 8.2.2024 DECISION OF THE EEA JOINT COMMITTEE No 217/2021 of 9 July 2021 amending Annex IX (Financial services) to the EEA Agreement [2024/276] 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) 2021/529 of 18 December 2020establishing regulatory technical standards amending Delegated Regulation (EU) 2017/583 as regards adjustment of liquidity thresholds and trade percentiles used to determine the size specific to the instrument applicable to certain non-equity instruments(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 is added in point 31baz (Commission Delegated Regulation (EU) 2017/583) of Annex IX to the EEA Agreement: ‘, as amended by: — 32021 R 0529: Commission Delegated Regulation (EU) 2021/529 of 18 December 2020 (OJ L 106, 26.3.2021, p. 47).’ Article 2 The text of Delegated Regulation (EU) 2021/529 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 10 July 2021, provided that all the notifications under Article 103(1) of the EEA Agreement have been made*. 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 106, 26.3.2021, p. 47. * No constitutional requirements indicated. ELI: http://data.europa.eu/eli/dec/2024/276/oj 1/2EN OJ L, 8.2.2024 Done at Brussels, 9 July 2021. For the EEA Joint Committee The President Rolf Einar FIFE 2/2 ELI: http://data.europa.eu/eli/dec/2024/276/oj

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