Executive Summary:
EEA Joint Committee Decision No. 82/2020 amends Annex IX (Financial Services) to the EEA Agreement to incorporate several Commission Delegated Regulations pertaining to financial services regulations. These regulations concern regulatory technical standards on major holdings, access to regulated information, and a single electronic reporting format. The decision entered into force on June 13, 2020, or the entry into force of Decision of the EEA Joint Committee No 81/2020, whichever is later, pending notifications under Article 103(1).
Key Points / Main Content:
* **Amendment to Annex IX:**
* Annex IX to the EEA Agreement is amended to include the following Commission Delegated Regulations:
* Regulation (EU) 2015/761 on regulatory technical standards on major holdings.
* Regulation (EU) 2016/1437 on regulatory technical standards on access to regulated information at Union level. References to official appointed mechanisms shall include the official appointed mechanisms in the EFTA States.
* Regulation (EU) 2019/815 on regulatory technical standards for a single electronic reporting format, as corrected by OJ L 145, 4.6.2019, p. 85, and as amended by Regulation (EU) 2019/2100. As regards the EFTA States, references to financial years beginning on or after 1 January 2020 shall be understood to refer to financial years beginning on or after 1 January 2021.
* **Authentic Texts:**
* The Icelandic and Norwegian language versions of Regulations (EU) 2015/761, (EU) 2016/1437, (EU) 2019/815, and (EU) 2019/2100 are authentic and will be published in the EEA Supplement to the Official Journal of the European Union.
* **Entry into Force:**
* The Decision came into force on 13 June 2020, provided that all 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 81/2020 of 12 June 2020, whichever is the later.
* **Publication:**
* This Decision will be published in the EEA Section of, and in the EEA Supplement to, the Official Journal of the European Union.
Impact Analysis:
* **EFTA States:**
* Impact: The EFTA states must comply with the incorporated EU regulations, adapting their existing mechanisms for regulated information to align with EU standards. Additionally, the single electronic reporting format requirements apply to financial years beginning on or after 1 January 2021.
* Action Required: EFTA states must update their official appointed mechanisms for regulated information, ensuring they meet the standards outlined in Regulation (EU) 2016/1437. They should also prepare for the single electronic reporting format for financial years beginning on or after 1 January 2021, as per Regulation (EU) 2019/815 and its amendment.
* **EEA Joint Committee:**
* Impact: The committee is responsible for the adoption and implementation of this decision, ensuring that the EEA Agreement reflects updated EU financial regulations.
* Action Required: The committee has already adopted the decision. They must now ensure its publication in the Official Journal and monitor the implementation of the incorporated regulations by EEA member states.
* **Businesses operating within the EEA:**
* Impact: Businesses are required to comply with the updated regulations regarding major holdings, access to regulated information, and the single electronic reporting format.
* Action Required: Businesses should review their reporting and disclosure practices to ensure compliance with Regulations (EU) 2015/761, (EU) 2016/1437, and (EU) 2019/815 (as amended), adapting their systems as necessary.
Key Entities Referenced
EEA Joint Committee: The governing body responsible for decisions related to the European Economic Area (EEA) Agreement.
EEA Agreement: Agreement on the European Economic Area
European Parliament: Legislative branch of the European Union.
Council of the European Union: A component of the European Parliament.
Commission Delegated Regulation EU 2015/761: A regulatory act of the European Commission supplementing Directive 2004/109/EC regarding regulatory technical standards on major holdings.
Commission Delegated Regulation EU 2016/1437: A regulatory act of the European Commission supplementing Directive 2004/109/EC regarding regulatory technical standards on access to regulated information at Union level.
Commission Delegated Regulation EU 2019/815: A regulatory act of the European Commission supplementing Directive 2004/109/EC regarding regulatory technical standards on the specification of a single electronic reporting format.
Commission Delegated Regulation EU 2019/2100: A regulatory act of the European Commission amending Delegated Regulation EU 2019/815 regarding updates of the taxonomy to be used for the single electronic reporting format.
L 78/28 EN Official Journal of the European Union 16.3.2023
DECISION OF THE EEA JOINT COMMITTEE No 82/2020
of 12 June 2020
amending Annex IX (Financial Services) to the EEA Agreement [2023/531]
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) 2015/761 of 17 December 2014supplementing Directive 2004/109/EC of
the European Parliament and of the Council with regard to certain regulatory technical standards on major
holdings(1)is to be incorporated into the EEA Agreement.
(2) Commission Delegated Regulation (EU) 2016/1437 of 19 May 2016supplementing Directive 2004/109/EC of the
European Parliament and of the Council with regard to regulatory technical standards on access to regulated
information at Union level(2)is to be incorporated into the EEA Agreement.
(3) Commission Delegated Regulation (EU) 2019/815 of 17 December 2018supplementing Directive 2004/109/EC of
the European Parliament and of the Council with regard to regulatory technical standards on the specification of a
single electronic reporting format(3), as corrected by OJ L 145, 4.6.2019, p. 85, is to be incorporated into the EEA
Agreement.
(4) Commission Delegated Regulation (EU) 2019/2100 of 30 September 2019 amending Delegated Regulation
(EU) 2019/815 with regard to updates of the taxonomy to be used for the single electronic reporting format(4)is to
be incorporated into the EEA Agreement.
(5) 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 is inserted after point 29da (Commission Directive 2007/14/EC):
‘29db. 32015 R 0761: Commission Delegated Regulation (EU) 2015/761 of 17 December 2014 supplementing
Directive 2004/109/EC of the European Parliament and of the Council with regard to certain regulatory
technical standards on major holdings (OJ L 120, 13.5.2015, p. 2).
29dc. 32016 R 1437: Commission Delegated Regulation (EU) 2016/1437 of 19 May 2016 supplementing
Directive 2004/109/EC of the European Parliament and of the Council with regard to regulatory technical
standards on access to regulated information at Union level (OJ L 234, 31.8.2016, p. 1).
The provisions of the Delegated Regulation shall, for the purposes of this Agreement, be read with the following
adaptation:
Notwithstanding the provisions of Protocol 1 to this Agreement, and unless otherwise provided for in this
Agreement, references to official appointed mechanisms shall be understood to include, in addition to their
meaning in the Delegated Regulation, the official appointed mechanisms in the EFTA States.
(1) OJ L 120, 13.5.2015, p. 2.
(2) OJ L 234, 31.8.2016, p. 1.
(3) OJ L 143, 29.5.2019, p. 1.
(4) OJ L 326, 16.12.2019, p. 1.16.3.2023 EN Official Journal of the European Union L 78/29
29dd. 32019 R 0815: Commission Delegated Regulation (EU) 2019/815 of 17 December 2018 supplementing
Directive 2004/109/EC of the European Parliament and of the Council with regard to regulatory technical
standards on the specification of a single electronic reporting format (OJ L 143, 29.5.2019, p. 1), as corrected
by OJ L 145, 4.6.2019, p. 85, as amended by:
— 32019 R 2100: Commission Delegated Regulation (EU) 2019/2100 of 30 September 2019 (OJ L 326,
16.12.2019, p. 1).
The provisions of the Delegated Regulation shall, for the purposes of this Agreement, be read with the
following adaptation:
As regards the EFTA States, references to financial years beginning on or after 1 January 2020 shall be
understood to refer to financial years beginning on or after 1 January 2021.’
Article 2
The texts of Delegated Regulations (EU) 2015/761, (EU) 2016/1437, (EU) 2019/815, as corrected by OJ L 145, 4.6.2019,
p. 85, and (EU) 2019/2100 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 13 June 2020, 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 81/2020 of
12 June 2020(5), whichever is the later.
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, 12 June 2020.
For the EEA Joint Committee
The President
Clara GANSLANDT
(*) No constitutional requirements indicated.
(5) See page 26 of this Official Journal.