**Policy Summary:**
EEA Joint Committee Decision No. 332/2022 of 9 December 2022 amends Annex IX (Financial Services) to the Agreement on the European Economic Area (EEA). The decision incorporates Commission Delegated Regulation (EU) 2021/1456 of 2 June 2021 into the EEA Agreement. This regulation supplements Regulation (EU) No 648/2012, specifying conditions under which commercial terms for clearing services for OTC derivatives are considered fair, reasonable, non-discriminatory, and transparent.
Article 1 inserts point 31bcy into Annex IX, referencing Regulation (EU) 2021/1456 (OJ L 317, 8.9.2021, p. 1). It adapts Article 3 of the Delegated Regulation for EFTA states, adjusting the reference dates to the entry into force of this decision (9 December 2022) and one year thereafter, respectively.
Article 2 stipulates that the Icelandic and Norwegian language texts of Delegated Regulation (EU) 2021/1456, to be published in the EEA Supplement to the Official Journal of the European Union, are authentic.
Article 3 states that the Decision entered into force on 10 December 2022, contingent upon completion of notifications under Article 103(1) of the EEA Agreement, or the entry into force of Decision of the EEA Joint Committee No 5/2021 of 5 February 2021, whichever is later.
Article 4 mandates publication of the Decision in the EEA Section of, and the EEA Supplement to, the Official Journal of the European Union.
The President of the EEA Joint Committee, Kristjn Andri Stefansson, signed the decision in Brussels on 9 December 2022.
Key Entities Referenced
EEA Joint Committee: The joint committee responsible for decisions related to the European Economic Area (EEA) agreement.
EEA Agreement: The Agreement on the European Economic Area, governing trade and economic relations between the EU member states and certain other countries.
Commission Delegated Regulation EU 2021/1456: A delegated regulation supplementing Regulation EU No 648/2012, specifying conditions for clearing services for OTC derivatives.
Regulation EU No 648/2012: Regulation of the European Parliament and of the Council on OTC derivatives, central counterparties and trade repositories.
Annex IX to the EEA Agreement: The annex to the EEA Agreement pertaining to Financial services.
EFTA States: The European Free Trade Association states (Iceland, Liechtenstein, Norway, Switzerland).
Brussels: The city where the EEA Joint Committee decision was made.
Iceland: One of the EFTA states whose language versions of the Delegated Regulation EU 2021/1456 are to be published.
Norway: One of the EFTA states whose language versions of the Delegated Regulation EU 2021/1456 are to be published.
29.6.2023 EN Official Journal of the European Union L 164/73
DECISION OF THE EEA JOINT COMMITTEE No 332/2022
of 9 December 2022
amending Annex IX (Financial services) to the EEA Agreement [2023/1274]
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) 2021/1456 of 2 June 2021supplementing Regulation (EU) No 648/2012 of
the European Parliament and of the Council by specifying the conditions under which the commercial terms for
clearing services for OTC derivatives are to be considered to be fair, reasonable, non-discriminatory and
transparent(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 31bcx (Commission Delegated Regulation (EU) 2021/731) of Annex IX to the EEA
Agreement:
‘31bcy. 32021 R 1456: Commission Delegated Regulation (EU) 2021/1456 of 2 June 2021 supplementing Regulation
(EU) No 648/2012 of the European Parliament and of the Council by specifying the conditions under which the
commercial terms for clearing services for OTC derivatives are to be considered to be fair, reasonable, non-
discriminatory and transparent (OJ L 317, 8.9.2021, p. 1).
The provisions of the Delegated Regulation shall, for the purposes of this Agreement, be read with the following
adaptation:
In Article 3, as regards the EFTA States, the words “9 September 2021” shall read “the date of entry into force of
Decision of the EEA Joint Committee No 332/2022 of 9 December 2022” and the words “by 9 September 2022”
shall read “within one year after the date of entry into force of Decision of the EEA Joint Committee No 332/2022
of 9 December 2022”.’
Article 2
The text of Delegated Regulation (EU) 2021/1456 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 December 2022, 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 50/2021 of 5 February 2021(2), whichever is the later.
(1) OJ L 317, 8.9.2021, p. 1.
* No constitutional requirements indicated.
(2) Not yet published in the Official Journal.L 164/74 EN Official Journal of the European Union 29.6.2023
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, 9 December 2022.
For the EEA Joint Committee
The President
Kristján Andri STEFÁNSSON