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

Decision of the EEA Joint Committee No 29/2024 of 2 February 2024 amending Annex IX (Financial services) to the EEA Agreement [2024/1533]

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 29/2024 amends Annex IX (Financial services) to the EEA Agreement to incorporate Commission Delegated Regulation (EU) 2021/1783. This regulation supplements Regulation (EU) No 596/2014 regarding regulatory technical standards for cooperation arrangements with third countries.

Key Changes

  • Commission Delegated Regulation (EU) 2021/1783 of 2 July 2021 is incorporated into the EEA Agreement.
  • The incorporated regulation concerns regulatory technical standards for cooperation arrangements with third countries related to market abuse regulation (Regulation (EU) No 596/2014).
  • Within the context of the EEA Agreement, the term 'Union law' in the Annex of the Delegated Regulation is replaced by 'the EEA Agreement'.
  • The Decision entered into force on 3 February 2024, following the necessary notifications under Article 103(1) of the EEA Agreement.

Impact Analysis

Financial Institutions within the EEA

  • Action Items: Review and update internal policies and procedures to align with the requirements of Commission Delegated Regulation (EU) 2021/1783. Ensure that cooperation agreements with third countries adhere to the template document outlined in the regulation. Train relevant personnel on the updated requirements.

Regulatory Bodies within the EEA

  • Action Items: Update regulatory frameworks and supervisory practices to reflect the incorporation of Commission Delegated Regulation (EU) 2021/1783. Establish mechanisms for cooperation with third-country authorities as outlined in the regulation.

Third-Country Entities interacting with EEA Financial Markets

  • Action Items: Understand the requirements for cooperation with EEA authorities. Ensure that internal policies and procedures align with the standards expected by EEA regulators.

Key Entities Referenced

EEA Joint Committee: The governing body responsible for decisions related to the EEA Agreement. Commission Delegated Regulation (EU) 2021/1783: A regulation supplementing Regulation (EU) No 596/2014, providing regulatory technical standards for cooperation arrangements with third countries. Regulation (EU) No 596/2014: The European Parliament and Council regulation on market abuse. EEA Agreement: The Agreement on the European Economic Area.
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Official Journal EN of the European Union L series 2024/1533 27.6.2024 DECISION OF THE EEA JOINT COMMITTEE No 29/2024 of 2 February 2024 amending Annex IX (Financial services) to the EEA Agreement [2024/1533] 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) 2021/1783 of 2 July 2021supplementing Regulation (EU) No 596/2014 of the European Parliament and of the Council with regard to regulatory technical standards containing a template document for cooperation arrangements with third countries(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 inserted after point 29as (Commission Implementing Regulation (EU) 2020/1406) of Annex IX to the EEA Agreement: ‘29at. 32021 R 1783: Commission Delegated Regulation (EU) 2021/1783 of 2 July 2021supplementing Regulation (EU) No 596/2014 of the European Parliament and of the Council with regard to regulatory technical standards containing a template document for cooperation arrangements with third countries (OJ L 359, 11.10.2021, p. 1). The provisions of the Delegated Regulation shall, for the purposes of this Agreement, be read with the following adaptation: In the Annex, the words “Union law” shall be replaced by “the EEA Agreement”.’ Article 2 The text of Delegated Regulation (EU) 2021/1783 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 359, 11.10.2021, p. 1. (*) No constitutional requirements indicated. ELI: http://data.europa.eu/eli/dec/2024/1533/oj 1/1

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