Executive Summary:
This EEA Joint Committee Decision No. 99/2023 amends Annex IX to the EEA Agreement to incorporate several Commission Implementing Decisions regarding the equivalence of regulatory frameworks for central counterparties in various countries, including Indonesia, South Africa, China, and Israel, to the requirements of EU Regulation No 648/2012. The decision enters into force on April 29, 2023, pending notification under Article 103(1) of the EEA Agreement.
Key Points / Main Content:
* **Amendment of Annex IX:**
* Annex IX to the EEA Agreement is amended to include the following Commission Implementing Decisions:
* EU 2022/900 amending EU 2015/2039 (South Africa)
* EU 2022/901 amending EU 2016/2269 (International Financial Services Centres Authority)
* EU 2022/899 (Indonesia)
* EU 2022/902 (Malaysia)
* EU 2022/903 (Chile)
* EU 2022/984 (People's Republic of China)
* EU 2022/985 (Israel)
* **Authentic Texts:**
* The Icelandic and Norwegian language versions of Implementing Decisions EU 2022/899, EU 2022/900, EU 2022/901, EU 2022/902, EU 2022/903, EU 2022/984, and EU 2022/985 are authentic.
* **Entry into Force:**
* The Decision enters into force on April 29, 2023, contingent upon all notifications under Article 103(1) of the EEA Agreement being made.
* **Publication:**
* The Decision will be published in the EEA Section of, and the EEA Supplement to, the Official Journal of the European Union.
Impact Analysis:
EEA Joint Committee:
* Impact: The Committee is responsible for adopting the decision to amend Annex IX of the EEA Agreement.
* Action Required: Ensure the decision is implemented and published in the Official Journal.
European Commission:
* Impact: The Commission's Implementing Decisions regarding the equivalence of regulatory frameworks are incorporated into the EEA Agreement.
* Action Required: Ensure the incorporated decisions are accurately reflected and implemented within the EEA.
EEA Member States:
* Impact: Member states are required to align their regulatory framework with the updated Annex IX, recognizing the equivalence decisions for central counterparties in Indonesia, South Africa, Malaysia, Chile, China and Israel.
* Action Required: Review and update national regulations to reflect the changes in Annex IX, ensuring compliance with the updated framework.
Central Counterparties (CCPs) under the supervision of the Indonesia Financial Services Authority Otoritas Jasa Keuangan, the International Financial Services Centres Authority, the Peoples Bank of China:
* Impact: Recognition of equivalence of regulatory framework
* Action Required: Continued compliance with regulatory requirements.
Central Counterparties (CCPs) in South Africa, Malaysia, Chile and Israel:
* Impact: Recognition of equivalence of regulatory framework
* Action Required: Continued compliance with regulatory requirements.
Key Entities Referenced
EEA Joint Committee: The decision-making body responsible for amending the EEA Agreement.
EEA Agreement: Agreement on the European Economic Area
European Parliament: Legislative branch of the European Union
Regulation EU No 648/2012: A regulation of the European Parliament and of the Council referenced in the document regarding central counterparties.
Commission Implementing Decision EU 2022/899: Commission Implementing Decision on the equivalence of the regulatory framework for central counterparties in Indonesia.
Indonesia Financial Services Authority Otoritas Jasa Keuangan: Supervisory authority for central counterparties in Indonesia.
South Africa: Country whose regulatory framework for central counterparties is assessed for equivalence.
Peoples Republic of China: Country whose regulatory framework for central counterparties is assessed for equivalence.
Official Journal EN
of the European Union L series
2023/2253 9.11.2023
DECISION OF THE EEA JOINT COMMITTEE No 99/2023
of 28 April 2023
amending Annex IX (Financial services) to the EEA Agreement [2023/2253]
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 Decision (EU) 2022/899 of 8 June 2022on the equivalence of the regulatory framework
for central counterparties in Indonesia to the requirements of Regulation (EU) No 648/2012 of the European
Parliament and of the Council as regards central counterparties under the supervision of the Indonesia Financial
Services Authority (Otoritas Jasa Keuangan)(1)is to be incorporated into the EEA Agreement.
(2) Commission Implementing Decision (EU) 2022/900 of 8 June 2022 amending Implementing Decision
(EU) 2015/2039 as regards the evolution of the regulatory framework of South Africa for central counterparties(2)
is to be incorporated into the EEA Agreement.
(3) Commission Implementing Decision (EU) 2022/901 of 8 June 2022 amending Implementing Decision
(EU) 2016/2269 as regards central counterparties under the supervision of the International Financial Services
Centres Authority(3)is to be incorporated into the EEA Agreement.
(4) Commission Implementing Decision (EU) 2022/902 of 8 June 2022on the equivalence of the regulatory framework
for central counterparties in Malaysia to the requirements of Regulation (EU) No 648/2012 of the European
Parliament and of the Council(4)is to be incorporated into the EEA Agreement.
(5) Commission Implementing Decision (EU) 2022/903 of 8 June 2022on the equivalence of the regulatory framework
for central counterparties in Chile to the requirements of Regulation (EU) No 648/2012 of the European Parliament
and of the Council(5)is to be incorporated into the EEA Agreement.
(6) Commission Implementing Decision (EU) 2022/984 of 22 June 2022 on the equivalence of the regulatory
framework of the People’s Republic of China for central counterparties that are authorised to clear OTC derivatives
in the interbank market and supervised by the People’s Bank of China to the requirements of Regulation (EU)
No 648/2012 of the European Parliament and of the Council(6)is to be incorporated into the EEA Agreement.
(7) Commission Implementing Decision (EU) 2022/985 of 22 June 2022 on the equivalence of the regulatory
framework for central counterparties in Israel to the requirements of Regulation (EU) No 648/2012 of the European
Parliament and of the Council(7)is to be incorporated into the EEA Agreement.
(8) Annex IX to the EEA Agreement should therefore be amended accordingly,
(1) OJ L 156, 9.6.2022, p. 53.
(2) OJ L 156, 9.6.2022, p. 57.
(3) OJ L 156, 9.6.2022, p. 60.
(4) OJ L 156, 9.6.2022, p. 64.
(5) OJ L 156, 9.6.2022, p. 68.
(6) OJ L 167, 24.6.2022, p. 103.
(7) OJ L 167, 24.6.2022, p. 108.
ELI: http://data.europa.eu/eli/dec/2023/2253/oj 1/3EN
OJ L, 9.11.2023
HAS ADOPTED THIS DECISION:
Article 1
Annex IX to the EEA Agreement shall be amended as follows:
1. The following is added in point 31bcaf (Commission Implementing Decision (EU) 2015/2039):
‘, as amended by:
— 32022 D 0900: Commission Implementing Decision (EU) 2022/900 of 8 June 2022(OJ L 156, 9.6.2022, p. 57).’
2. The following is added in point 31bcap (Commission Implementing Decision (EU) 2016/2269):
‘, as amended by:
— 32022 D 0901: Commission Implementing Decision (EU) 2022/901 of 8 June 2022(OJ L 156, 9.6.2022, p. 60).’
3. The following points are inserted after point 31bcazf (Commission Implementing Decision (EU) 2021/1108):
‘31bcazg. 32022 D 0899: Commission Implementing Decision (EU) 2022/899 of 8 June 2022on the equivalence of
the regulatory framework for central counterparties in Indonesia to the requirements of Regulation (EU)
No 648/2012 of the European Parliament and of the Council as regards central counterparties under the
supervision of the Indonesia Financial Services Authority (Otoritas Jasa Keuangan) (OJ L 156, 9.6.2022,
p. 53).
31bcazh. 32022 D 0902: Commission Implementing Decision (EU) 2022/902 of 8 June 2022on the equivalence of
the regulatory framework for central counterparties in Malaysia to the requirements of Regulation (EU)
No 648/2012 of the European Parliament and of the Council (OJ L 156, 9.6.2022, p. 64).
31bcazi. 32022 D 0903: Commission Implementing Decision (EU) 2022/903 of 8 June 2022on the equivalence of
the regulatory framework for central counterparties in Chile to the requirements of Regulation (EU)
No 648/2012 of the European Parliament and of the Council (OJ L 156, 9.6.2022, p. 68).
31bcazj. 32022 D 0984: Commission Implementing Decision (EU) 2022/984 of 22 June 2022on the equivalence of
the regulatory framework of the People’s Republic of China for central counterparties that are authorised to
clear OTC derivatives in the interbank market and supervised by the People’s Bank of China to the
requirements of Regulation (EU) No 648/2012 of the European Parliament and of the Council (OJ L 167,
24.6.2022, p. 103).
31bcazk. 32022 D 0985: Commission Implementing Decision (EU) 2022/985 of 22 June 2022on the equivalence of
the regulatory framework for central counterparties in Israel to the requirements of Regulation (EU)
No 648/2012 of the European Parliament and of the Council (OJ L 167, 24.6.2022, p. 108).’
Article 2
The texts of Implementing Decisions (EU) 2022/899, (EU) 2022/900, (EU) 2022/901, (EU) 2022/902, (EU) 2022/903,
(EU) 2022/984 and (EU) 2022/985 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 29 April 2023, provided that all the notifications under Article 103(1) of the EEA
Agreement have been made*.
* No constitutional requirements indicated.
2/3 ELI: http://data.europa.eu/eli/dec/2023/2253/ojEN
OJ L, 9.11.2023
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, 28 April 2023.
For the EEA Joint Committee
The President
Nicolas VON LINGEN
ELI: http://data.europa.eu/eli/dec/2023/2253/oj 3/3