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Date: 27-Jun-2024 Category: Not Applicable State: Union Government Country: Europe

Decision of the EEA Joint Committee No 25/2024 of 2 February 2024 amending Annex IX (Financial services) to the EEA Agreement [2024/1538]

Issued by EEA Joint Committee · Not Applicable

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Executive Summary & Key Takeaways

What it means

  • The Decision of the EEA Joint Committee No 25/2024 amends Annex IX (Financial services) to the EEA Agreement to incorporate Commission Implementing Regulation (EU) 2023/2056.
  • Commission Implementing Regulation (EU) 2023/2056 updates the list of relevant appropriately diversified indices as per Regulation (EU) No 575/2013.

Key Changes

  • The decision adds a new indent to point 14aq of Annex IX to the EEA Agreement, specifically incorporating '32023 R 2056: Commission Implementing Regulation (EU) 2023/2056 of 26 September 2023(OJ L 238, 27.9.2023, p. 89).'
  • The text of Implementing Regulation (EU) 2023/2056 in Icelandic and Norwegian languages will be published in the EEA Supplement to the Official Journal of the European Union and is considered authentic.
  • The Decision entered into force on 3 February 2024, provided that all notifications under Article 103(1) of the EEA Agreement have been made.

Impact Analysis

Financial Institutions within the EEA

  • Action Item: Review current investment portfolios and risk models to ensure alignment with the updated list of relevant appropriately diversified indices. Update internal documentation and processes accordingly.

EEA Member States

  • Action Item: National authorities should communicate the changes to relevant financial institutions and update their supervisory frameworks.

Legal and Compliance Departments

  • Action Item: Conduct a thorough legal review of Commission Implementing Regulation (EU) 2023/2056 and update compliance programs accordingly. Provide training to relevant staff on the new requirements.

Key Entities Referenced

EEA Joint Committee: The governing body responsible for decisions related to the EEA Agreement. Commission Implementing Regulation (EU) 2023/2056: Regulation amending the implementing technical standards laid down in Commission Implementing Regulation (EU) No 945/2014 as regards an update of the list of relevant appropriately diversified indices in accordance with Regulation (EU) No 575/2013. Commission Implementing Regulation (EU) No 945/2014: The original regulation that is being amended by Commission Implementing Regulation (EU) 2023/2056. Regulation (EU) No 575/2013: Regulation of the European Parliament and of the Council that Commission Implementing Regulation (EU) 2023/2056 is aligned with. EEA Agreement: The Agreement on the European Economic Area.
Official Source Record View Original Source →
See Full Document Text
Official Journal EN of the European Union L series 2024/1538 27.6.2024 DECISION OF THE EEA JOINT COMMITTEE No 25/2024 of 2 February 2024 amending Annex IX (Financial services) to the EEA Agreement [2024/1538] 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 Implementing Regulation (EU) 2023/2056 of 26 September 2023 amending the implementing technical standards laid down in Commission Implementing Regulation (EU) No 945/2014 as regards an update of the list of relevant appropriately diversified indices in accordance with Regulation (EU) No 575/2013 of the European Parliament and of the Council(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 indent is added in point 14aq (Commission Implementing Regulation (EU) No 945/2014) of Annex IX to the EEA Agreement: ‘- 32023 R 2056: Commission Implementing Regulation (EU) 2023/2056 of 26 September 2023(OJ L 238, 27.9.2023, p. 89).’ Article 2 The text of Implementing Regulation (EU) 2023/2056 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 3 February 2024, 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. Done at Brussels, 2 February 2024. For the EEA Joint Committee The President Nicolas VON LINGEN (1) OJ L 238, 27.9.2023, p. 89. (*) No constitutional requirements indicated. ELI: http://data.europa.eu/eli/dec/2024/1538/oj 1/1

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