Council Decision (EU) 2016/1171 of 12 July 2016 on the position to be adopted, on behalf of the European Union, within the EEA Joint Committee concerning amendments to Annex IX (Financial Services) to the EEA Agreement

The position to be adopted, on behalf of the Union, within the EEA Joint Committee on the proposed amendments to Annex IX (Financial Services) to the EEA Agreement shall be based on the draft decisions of the EEA Joint Committee attached to this Decision.

This Decision shall enter into force on the date of its adoption.

The following is inserted after point 31ed (Commission Decision 2010/C-326/07) of Annex IX to the EEA Agreement: ‘31f. 32010 R 1092: Regulation (EU) No 1092/2010 of the European Parliament and of the Council of 24 November 2010 on European Union macro-prudential oversight of the financial system and establishing a European Systemic Risk Board (OJ L 331, 15.12.2010, p. 1). The provisions of the Regulation shall, for the purposes of this Agreement, be read with the following adaptations: (a) The relevant authorities of the EFTA States shall participate in the work of the European Systemic Risk Board (ESRB); (b) Notwithstanding the provisions of Protocol 1 to this Agreement, the terms ‘Member State(s)’, ‘competent authorities’, and ‘supervisory authorities’ shall be understood to include, in addition to their meaning in the Regulation, the EFTA States and their competent authorities and supervisory authorities, respectively. This shall not apply as regards Articles 5(2), 9(5) and 11(1)(c); (c) The following shall be added in Article 6(2): ‘(c) the Governors of the national central banks of the EFTA States, or, as regards Liechtenstein, a high-level representative of the Ministry of Finance; (d) a College Member of the EFTA Surveillance Authority, whenever relevant to its tasks. The members of the General Board without voting rights referred to in points (c) and (d) shall not participate in the work of the General Board where the situation of individual EU financial institutions or EU Member States may be discussed.’; (d) The following point shall be added in Article 13(1): ‘(i) one representative of each national central bank of the EFTA States or, as regards Liechtenstein, of the Ministry of Finance. These representatives shall not participate in the work of the Advisory Technical Committee where the situation of individual EU financial institutions or EU Member States may be discussed.’; (e) The following subparagraph shall be added in Article 15(2): ‘The EFTA Surveillance Authority, the national central banks, the national supervisory authorities and national statistics authorities of the EFTA States shall cooperate closely with the ESRB and, shall provide it with all the information necessary for the fulfilment of its tasks in accordance with the EEA Agreement.’; (f) In Article 16(3), the words ‘, and in case an EFTA State or one or more of its national supervisory authorities is an addressee, the Standing Committee of the EFTA States’ shall be added after the words ‘the Commission’ and the words ‘and the EFTA Surveillance Authority’ shall be added after the word ‘ESAs’; (g) In Article 17(1) and (2) and in Article 18(1), the words ‘and, in case an EFTA State or one or more of its national supervisory authorities is an addressee, the Standing Committee of the EFTA States’ shall be added after the word ‘Council’; (h) Article 17(3) shall not apply with respect to decisions regarding recommendations addressed to one or more EFTA States; (i) In Article 18(4) the words ‘, the EFTA Surveillance Authority and the Standing Committee of the EFTA States’ shall be added after the word ‘ESAs’.’.

The texts of Regulation (EU) No 1092/2010 in the Icelandic and Norwegian languages, to be published in the EEA Supplement to the Official Journal of the European Union, shall be authentic.

This Decision shall enter into force on…, or on the day following the last notification under Article 103(1) of the EEA Agreement, whichever is the later .

This Decision shall be published in the EEA Section of, and in the EEA Supplement to, the Official Journal of the European Union.

‘4 Where the competent authority has not complied with the EEA Agreement within 1 month from receipt of the Authority's recommendation, the EFTA Surveillance Authority may issue a formal opinion requiring the competent authority to take the action necessary to comply with the EEA Agreement. The EFTA Surveillance Authority's formal opinion shall take into account the Authority's recommendation. The EFTA Surveillance Authority shall issue such a formal opinion no later than 3 months after the adoption of the recommendation. The EFTA Surveillance Authority may extend this period by 1 month. Formal opinions by the EFTA Surveillance Authority shall, without undue delay, be adopted on the basis of drafts prepared by the Authority at its own initiative or at the request of the EFTA Surveillance Authority. The competent authorities shall provide the Authority and the EFTA Surveillance Authority with all necessary information.

5 The competent authority shall, within 10 working days of receipt of the formal opinion referred to in paragraph 4, inform the Authority and the EFTA Surveillance Authority of the steps it has taken or intends to take to comply with that formal opinion.’;

‘8 The EFTA Surveillance Authority shall annually publish information on which competent authorities and financial institutions in the EFTA States have not complied with the formal opinions or decisions referred to in paragraphs 4 and 6.’;

‘6 Where, in a case falling under Article 19(3), in combination with Article 20 as the case may be, and concerning a disagreement also involving the competent authorities of one or more EFTA States a decision is suspended, or terminated pursuant to this Article, any parallel decision of the EFTA Surveillance Authority in the case concerned shall be equally suspended or terminated. Where, in such cases, the Authority amends or revokes its decision, the Authority shall, without undue delay, prepare a draft for the EFTA Surveillance Authority.’;

‘5 By way of derogation from Articles 12(2)(a) and 82(3)(a) of the Conditions of Employment of Other Servants, nationals of the EFTA States enjoying their full rights as citizens may be engaged under contract by the Executive Director of the Authority. By way of derogation from Articles 12(2)(e), 82(3)(e) and 85(3) of the Conditions of Employment of Other Servants, the languages referred to in Article 129(1) of the EEA Agreement shall be considered by the Authority, in respect of its staff, as languages of the Union referred to in Article 55(1) of the Treaty on European Union.’;

‘4 Regulation (EC) No 1049/2001 of the European Parliament and of the Council of 30 May 2001 regarding public access to European Parliament, Council and Commission documents shall, for the application of the Regulation, apply to the competent authorities of the EFTA States in regard to documents prepared by the Authority.’.’.

The texts of Regulations (EU) No 1093/2010 and (EU) No 1022/2013 in the Icelandic and Norwegian languages, to be published in the EEA Supplement to the Official Journal of the European Union, shall be authentic.

The Contracting Parties shall review the framework established pursuant to this Decision and Decisions [No …/… [ESRB],]No …/… [EIOPA] and No …/… [ESMA] at the latest by the end of the year [five years after entry into force of this Decision] to ensure that it will continue to ensure the effective and homogeneous application of common rules and supervision throughout the EEA.

This Decision shall enter into force on… [insert the day following its adoption], or on the day following the last notification under Article 103(1) of the EEA Agreement, whichever is the later .

This Decision shall be published in the EEA Section of, and in the EEA Supplement to, the Official Journal of the European Union.

‘4 Where the competent authority has not complied with the EEA Agreement within 1 month from receipt of the Authority's recommendation, the EFTA Surveillance Authority may issue a formal opinion requiring the competent authority to take the action necessary to comply with the EEA Agreement. The EFTA Surveillance Authority's formal opinion shall take into account the Authority's recommendation. The EFTA Surveillance Authority shall issue such a formal opinion no later than 3 months after the adoption of the recommendation. The EFTA Surveillance Authority may extend this period by 1 month. Formal opinions by the EFTA Surveillance Authority shall, without undue delay, be adopted on the basis of drafts prepared by the Authority at its own initiative or at the request of the EFTA Surveillance Authority. The competent authorities shall provide the Authority and the EFTA Surveillance Authority with all necessary information.

5 The competent authority shall, within ten working days of receipt of the formal opinion referred to in paragraph 4, inform the Authority and the EFTA Surveillance Authority of the steps it has taken or intends to take to comply with that formal opinion.’;

‘8 The EFTA Surveillance Authority shall annually publish information on which competent authorities and financial institutions in the EFTA States have not complied with the formal opinions or decisions referred to in paragraphs 4 and 6.’;

‘6 Where, in a case falling under Article 19(3), in combination with Article 20 as the case may be, and concerning a disagreement also involving the competent authorities of one or more EFTA States a decision is suspended, or terminated pursuant to this Article, any parallel decision of the EFTA Surveillance Authority in the case concerned shall be equally suspended or terminated. Where, in such cases, the Authority amends or revokes its decision, the Authority shall, without undue delay, prepare a draft for the EFTA Surveillance Authority.’;

‘5 By way of derogation from Articles 12(2)(a) and 82(3)(a) of the Conditions of Employment of Other Servants, nationals of the EFTA States enjoying their full rights as citizens may be engaged under contract by the Executive Director of the Authority. By way of derogation from Articles 12(2)(e), 82(3)(e) and 85(3) of the Conditions of Employment of Other Servants, the languages referred to in Article 129(1) of the EEA Agreement shall be considered by the Authority, in respect of its staff, as languages of the Union referred to in Article 55(1) of the Treaty on European Union.’;

‘4 Regulation (EC) No 1049/2001 of the European Parliament and of the Council of 30 May 2001 regarding public access to European Parliament, Council and Commission documents shall, for the application of the Regulation, apply to the competent authorities of the EFTA States in regard to documents prepared by the Authority.’.’.

The texts of Regulation (EU) No 1094/2010 in the Icelandic and Norwegian languages, to be published in the EEA Supplement to the Official Journal of the European Union, shall be authentic.

The Contracting Parties shall review the framework established pursuant to this Decision and Decisions No …/… [ESRB], No …/… [EBA] and No …/… [ESMA] at the latest by the end of the year [five years after entry into force of this Decision] to ensure that it will continue to ensure the effective and homogeneous application of common rules and supervision throughout the EEA.

This Decision shall enter into force on…, or on the day following the last notification under Article 103(1) of the EEA Agreement, whichever is the later .

This Decision shall be published in the EEA Section of, and in the EEA Supplement to, the Official Journal of the European Union.

‘4 Where the competent authority has not complied with the EEA Agreement within 1 month from receipt of the Authority's recommendation, the EFTA Surveillance Authority may issue a formal opinion requiring the competent authority to take the action necessary to comply with the EEA Agreement. The EFTA Surveillance Authority's formal opinion shall take into account the Authority's recommendation. The EFTA Surveillance Authority shall issue such a formal opinion no later than 3 months after the adoption of the recommendation. The EFTA Surveillance Authority may extend this period by 1 month. Formal opinions by the EFTA Surveillance Authority shall, without undue delay, be adopted on the basis of drafts prepared by the Authority at its own initiative or at the request of the EFTA Surveillance Authority. The competent authorities shall provide the Authority and the EFTA Surveillance Authority with all necessary information.

5 The competent authority shall, within ten working days of receipt of the formal opinion referred to in paragraph 4, inform the Authority and the EFTA Surveillance Authority of the steps it has taken or intends to take to comply with that formal opinion.’;

‘8 The EFTA Surveillance Authority shall annually publish information on which competent authorities and financial market participants in the EFTA States have not complied with the formal opinions or decisions referred to in paragraphs 4 and 6.’;

‘6 Where, in a case falling under Article 19(3), in combination with Article 20 as the case may be, and concerning a disagreement also involving the competent authorities of one or more EFTA States a decision is suspended, or terminated pursuant to this Article, any parallel decision of the EFTA Surveillance Authority in the case concerned shall be equally suspended or terminated. Where, in such cases, the Authority amends or revokes its decision, the Authority shall, without undue delay, prepare a draft for the EFTA Surveillance Authority.’;

‘5 By way of derogation from Articles 12(2)(a) and 82(3)(a) of the Conditions of Employment of Other Servants, nationals of the EFTA States enjoying their full rights as citizens may be engaged under contract by the Executive Director of the Authority. By way of derogation from Articles 12(2)(e), 82(3)(e) and 85(3) of the Conditions of Employment of Other Servants, the languages referred to in Article 129(1) of the EEA Agreement shall be considered by the Authority, in respect of its staff, as languages of the Union referred to in Article 55(1) of the Treaty on European Union.’;

‘4 Regulation (EC) No 1049/2001 of the European Parliament and of the Council of 30 May 2001 regarding public access to European Parliament, Council and Commission documents shall, for the application of the Regulation, apply to the competent authorities of the EFTA States in regard to documents prepared by the Authority.’.’.

The texts of Regulation (EU) No 1095/2010 in the Icelandic and Norwegian languages, to be published in the EEA Supplement to the Official Journal of the European Union, shall be authentic.

The Contracting Parties shall review the framework established pursuant to this Decision and Decisions No …/… [ESRB], No …/… [EBA] and No …/… [EIOPA] at the latest by the end of the year [five years after entry into force of this Decision] to ensure that it will continue to ensure the effective and homogeneous application of common rules and supervision throughout the EEA.

This Decision shall enter into force on…, or on the day following the last notification under Article 103(1) of the EEA Agreement, whichever is the later .

This Decision shall be published in the EEA Section of, and in the EEA Supplement to, the Official Journal of the European Union.

The following is inserted after point 31bac (Commission Regulation (EC) No 1287/2006) of Annex IX to the EEA Agreement: ‘31bb. 32011 L 0061: Directive 2011/61/EU of the European Parliament and of the Council of 8 June 2011 on Alternative Investment Fund Managers and amending Directives 2003/41/EC and 2009/65/EC and Regulations (EC) No 1060/2009 and (EU) No 1095/2010 (OJ L 174, 1.7.2011, p. 1). The provisions of the Directive shall, for the purposes of this Agreement, be read with the following adaptations: (a) Notwithstanding the provisions of Protocol 1 to this Agreement, and unless otherwise provided for in this Agreement, the terms ‘Member State(s)’ and ‘competent authorities’ shall be understood to include, in addition to their meaning in the Directive, the EFTA States and their competent authorities, respectively; (b) Unless otherwise provided for in this Agreement, the European Securities and Markets Authority (ESMA) and the EFTA Surveillance Authority shall cooperate, exchange information and consult each other for the purposes of the Directive, in particular prior to taking any action; (c) References to other acts in the Directive shall apply to the extent and in the form that those acts are incorporated into this Agreement; (d) References to the powers of ESMA under Article 19 of Regulation (EU) No 1095/2010 of the European Parliament and of the Council in the Directive shall be understood as referring, in the cases provided for in and in accordance with point 31i of this Annex, to the powers of the EFTA Surveillance Authority as regards the EFTA States; (e) As regards the EFTA States, Article 4(1)(an) shall read as follows: ‘‘securitisation special purpose entities’ means entities whose sole purpose is to carry on a securitisation or securitisations within the meaning defined below, and other activities which are appropriate to accomplish that purpose. For the purposes of this Directive, ‘securitisation’ means a transaction or scheme whereby an entity that is separate from the originator or insurance or reinsurance undertaking and is created for or serves the purpose of the transaction or scheme issues financing instruments to investors, and one or more of the following takes place: (a) an asset or pool of assets, or part thereof, is transferred to an entity that is separate from the originator and is created for or serves the purpose of the transaction or scheme, either by the transfer of legal title or beneficial interest of those assets from the originator or through sub-participation; (b) the credit risk of an asset or pool of assets, or part thereof, is transferred through the use of credit derivatives, guarantees or any similar mechanism to the investors in the financing instruments issued by an entity that is separate from the originator and is created for or serves the purpose of the transaction or scheme; (c) insurance risks are transferred from an insurance or reinsurance undertaking to a separate entity that is created for or serves the purpose of the transaction or scheme, whereby the entity fully funds its exposure to such risks through the issuance of financing instruments, and the repayment rights of the investors in those financing instruments are subordinated to the reinsurance obligations of the entity; Where such financing instruments are issued, they do not represent the payment obligations of the originator, or insurance or reinsurance undertaking;’; (f) In Article 7(5), the following subparagraph shall be added: ‘ESMA shall include in the central public register referred to in the second subparagraph, under the same conditions, information on AIFMs authorised by the competent authorities of an EFTA State under this Directive, AIFs managed and/or marketed in the EEA by such AIFMs and the competent authority for each such AIFM.’; (g) In Article 9(6) and in Article 21(6)(b), (7) and (17)(b), the words ‘Union law’ shall be replaced by the words ‘the EEA Agreement’; (h) In Article 21(3)(c), as regards the EFTA States, the words ‘21 July 2011’ shall read ‘the date of entry into force of Decision of the EEA Joint Committee No …/… of … [this decision]’; (i) In Article 43: (i) in paragraph 1, the words ‘of Union law’ shall read ‘applicable pursuant to the EEA Agreement’; (ii) in paragraph 2, as regards the EFTA States, the words ‘by 22 July 2014’ shall read ‘within eighteen months of the date of entry into force of Decision of the EEA Joint Committee No …/… of … [this decision]’; (j) In Article 47: (i) in the second subparagraph of paragraph 1 and in paragraphs 2, 8 and 10, the words ‘or, as the case may be, the EFTA Surveillance Authority’ shall be inserted after the word ‘ESMA’; (ii) in paragraph 3, the words ‘, the EFTA Surveillance Authority’ shall be inserted after the word ‘ESMA’; (iii) as regards the EFTA States, in paragraphs 4, 5 and 9, the word ‘ESMA’ shall read ‘the EFTA Surveillance Authority’; (iv) in paragraph 7, the following subparagraph shall be added: ‘In cases regarding the EFTA States, before preparing a draft in accordance with Article 9(5) of Regulation (EU) No 1095/2010 in view of a decision on the part of the EFTA Surveillance Authority under paragraph 4, ESMA shall consult, where appropriate, the ESRB and other relevant authorities. It shall transmit the observations received to the EFTA Surveillance Authority.’; (k) In Article 50, as regards the EFTA States: (i) in paragraph 1, the words ‘, the EFTA Surveillance Authority’ shall be inserted after the word ‘ESMA’; (ii) in the first subparagraph of paragraph 4, the words ‘, the EFTA Surveillance Authority’ shall be inserted after the words ‘one another’; (l) In Article 61, as regards the EFTA States, the words ‘22 July 2013’ and ‘22 July 2017’ shall read ‘eighteen months after the date of entry into force of Decision of the EEA Joint Committee No …/… of … [this decision]’. 31bba. 32013 R 0231: Commission Delegated Regulation (EU) No 231/2013 of 19 December 2012 supplementing Directive 2011/61/EU of the European Parliament and of the Council with regard to exemptions, general operating conditions, depositories, leverage, transparency and supervision (OJ L 83, 22.3.2013, p. 1). The provisions of the Delegated Regulation shall, for the purposes of this Agreement, be read with the following adaptations: (a) Notwithstanding the provisions of Protocol 1 to this Agreement, and unless otherwise provided for in this Agreement, references to ‘EU’ or ‘Union’ Member States and competent authorities shall be understood to include, in addition to their meaning in the Delegated Regulation, the EFTA States and their competent authorities, respectively; (b) In Articles 15, 84, 86 and 99, the words ‘Union law’ shall be replaced by the words ‘the EEA Agreement’; (c) In Article 55, as regards the EFTA States, the words ‘1 January 2011’ shall read ‘the date of entry into force of Decision of the EEA Joint Committee No …/… of … [this decision]’ and the words ‘31 December 2014’ shall read ‘12 months after the date of entry into force of Decision of the EEA Joint Committee No …/… of … [this decision]’; (d) In Article 114(3), the words ‘Union legislation’ shall be replaced by the words ‘legislation applicable pursuant to the EEA Agreement’. 31bbb. 32013 R 0447: Commission Implementing Regulation (EU) No 447/2013 of 15 May 2013 establishing the procedure for AIFMs which choose to opt in under Directive 2011/61/EU of the European Parliament and of the Council (OJ L 132, 16.5.2013, p. 1). 31bbc. 32013 R 0448: Commission Implementing Regulation (EU) No 448/2013 of 15 May 2013 establishing a procedure for determining the Member State of reference of a non-EU AIFM pursuant to Directive 2011/61/EU of the European Parliament and of the Council (OJ L 132, 16.5.2013, p. 3). The provisions of the Implementing 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, the terms ‘Member State(s)’ and ‘competent authorities’ shall be understood to include, in addition to their meaning in the Implementing Regulation, the EFTA States and their competent authorities, respectively. 31bbd. 32014 R 0694: Commission Delegated Regulation (EU) No 694/2014 of 17 December 2013 supplementing Directive 2011/61/EU of the European Parliament and of the Council with regard to regulatory technical standards determining types of alternative investment fund managers (OJ L 183, 24.6.2014, p. 18). 31bbe. 32015 R 0514: Commission Delegated Regulation (EU) 2015/514 of 18 December 2014 on the information to be provided by competent authorities to the European Securities and Markets Authority pursuant to Article 67(3) of Directive 2011/61/EU of the European Parliament and of the Council (OJ L 82, 27.3.2015, p. 5). 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, the terms ‘Member State(s)’ and ‘competent authorities’ shall be understood to include, in addition to their meaning in the Delegated Regulation, the EFTA States and their competent authorities, respectively.’.

Annex IX to the EEA Agreement shall be amended as follows: 1. The following is added in points 30 (Directive 2009/65/EC of the European Parliament and of the Council), 31eb (Regulation (EC) No 1060/2009 of the European Parliament and of the Council) and 31i (Regulation (EU) No 1095/2010 of the European Parliament and of the Council): ‘, as amended by: 32011 L 0061: Directive 2011/61/EU of the European Parliament and of the Council of 8 June 2011 (OJ L 174, 1.7.2011, p. 1).’. 2. The following indent is added in point 31d (Directive 2003/41/EC of the European Parliament and of the Council): ‘— 32011 L 0061: Directive 2011/61/EU of the European Parliament and of the Council of 8 June 2011 (OJ L 174, 1.7.2011, p. 1).’.

The texts of Directive 2011/61/EU and Delegated Regulations (EU) No 231/2013, (EU) No 694/2014 and (EU) 2015/514 and Implementing Regulations (EU) No 447/2013 and (EU) No 448/2013 in the Icelandic and Norwegian languages, to be published in the EEA Supplement to the Official Journal of the European Union, shall be authentic.

This Decision shall enter into force on […], 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 …/… of … [incorporating the ESMA Regulation (EU) No 1095/2010], whichever is the later.

This Decision shall be published in the EEA Section of, and in the EEA Supplement to, the Official Journal of the European Union.

The following is inserted after point 29e (Commission Regulation (EC) No 1569/2007) of Annex IX to the EEA Agreement: ‘29f. 32012 R 0236: Regulation (EU) No 236/2012 of the European Parliament and of the Council of 14 March 2012 on short selling and certain aspects of credit default swaps (OJ L 86, 24.3.2012, p. 1). The provisions of the Regulation shall, for the purposes of this Agreement, be read with the following adaptations: (a) Notwithstanding the provisions of Protocol 1 to this Agreement, and unless otherwise provided for in this Agreement, the terms ‘Member State(s)’ and ‘competent authorities’ shall be understood to include, in addition to their meaning in the Regulation, the EFTA States and their competent authorities, respectively; (b) Unless otherwise provided for in this Agreement, the European Securities and Markets Authority (ESMA) and the EFTA Surveillance Authority shall cooperate, exchange information and consult each other for the purposes of the Regulation, in particular prior to taking any action; (c) In the third subparagraph of Article 23(4), the words ‘or the EFTA Surveillance Authority, as the case may be,’ shall be inserted after the word ‘ESMA’; (d) In Article 28: (i) in the first subparagraph of paragraph 1, the words ‘or, as regards the EFTA States, the EFTA Surveillance Authority’ shall be inserted after the word ‘ESMA’; (ii) in the second subparagraph of paragraph 1, in paragraphs 2, 3, 5, 6, 8, 10 and 11, and in point (b) of paragraph 7, the words ‘or, as the case may be, the EFTA Surveillance Authority’ shall be inserted after the word ‘ESMA’; (iii) in paragraph 3, the words ‘without issuing the opinion’ shall be replaced by the words ‘without ESMA issuing the opinion’; (iv) in paragraph 4, the following subparagraph shall be added: ‘In cases regarding the EFTA States, before preparing a draft in accordance with Article 9(5) of Regulation (EU) No 1095/2010 in view of a decision on the part of the EFTA Surveillance Authority under paragraph 1, ESMA shall consult the ESRB and, where appropriate, other relevant authorities. It shall transmit the observations received to the EFTA Surveillance Authority.’; (v) in paragraph 7, the words ‘any decision’ shall read ‘each of its decisions’; (vi) in paragraph 7, the words ‘. The EFTA Surveillance Authority shall publish on its website notice of each of its own decisions to impose or renew any measure referred to in paragraph 1. A reference to the publication of the notice by the EFTA Surveillance Authority shall be posted on ESMA's website’ shall be inserted after the words ‘paragraph 1’; (vii) in paragraph 9, the words ‘or, as regards measures taken by the EFTA Surveillance Authority, when the notice is published on the website of the EFTA Surveillance Authority,’ shall be inserted after the words ‘ESMA website’; (e) In Article 31, the words ‘, the Standing Committee of the EFTA States’ shall be inserted after the word ‘authorities’; (f) In Article 32, as regards the EFTA States, the words ‘, the EFTA Surveillance Authority’ shall be inserted after the word ‘ESMA’; (g) In Article 36, as regards the EFTA States, the words ‘and the EFTA Surveillance Authority’ shall be inserted after the word ‘ESMA’; (h) In Article 37(3), the words ‘or the EFTA Surveillance Authority, as the case may be,’ shall be inserted after the words ‘required by ESMA’; (i) In Article 46, as regards the EFTA States: (i) paragraph 1 shall not apply; (ii) in paragraph 2, the words ‘25 March 2012’ shall read ‘the date of entry into force of Decision of the EEA Joint Committee No …/… of … [this decision]’. 29fa. 32012 R 0826: Commission Delegated Regulation (EU) No 826/2012 of 29 June 2012 supplementing Regulation (EU) No 236/2012 of the European Parliament and of the Council with regard to regulatory technical standards on notification and disclosure requirements with regard to net short positions, the details of the information to be provided to the European Securities and Markets Authority in relation to net short positions and the method for calculating turnover to determine exempted shares (OJ L 251, 18.9.2012, p. 1). 29fb. 32012 R 0827: Commission Implementing Regulation (EU) No 827/2012 of 29 June 2012 laying down implementing technical standards with regard to the means for public disclosure of net position in shares, the format of the information to be provided to the European Securities and Markets Authority in relation to net short positions, the types of agreements, arrangements and measures to adequately ensure that shares or sovereign debt instruments are available for settlement and the dates and period for the determination of the principal venue for a share according to Regulation (EU) No 236/2012 of the European Parliament and of the Council on short selling and certain aspects of credit default swaps (OJ L 251, 18.9.2012, p. 11). 29fc. 32012 R 0918: Commission Delegated Regulation (EU) No 918/2012 of 5 July 2012 supplementing Regulation (EU) No 236/2012 of the European Parliament and of the Council on short selling and certain aspects of credit default swaps with regard to definitions, the calculation of net short positions, covered sovereign credit default swaps, notification thresholds, liquidity thresholds for suspending restrictions, significant falls in the value of financial instruments and adverse events (OJ L 274, 9.10.2012, p. 1), as amended by: 32015 R 0097: Commission Delegated Regulation (EU) 2015/97 of 17 October 2014 (OJ L 16, 23.1.2015, p. 22). 29fd. 32012 R 0919: Commission Delegated Regulation (EU) No 919/2012 of 5 July 2012 supplementing Regulation (EU) No 236/2012 of the European Parliament and of the Council on short selling and certain aspects of credit default swaps with regard to regulatory technical standards for the method of calculation of the fall in value for liquid shares and other financial instruments (OJ L 274, 9.10.2012, p. 16).’.

The texts of Regulation (EU) No 236/2012 and Delegated Regulations (EU) No 826/2012, (EU) No 918/2012, (EU) No 919/2012 and (EU) 2015/97 and Implementing Regulation (EU) No 827/2012 in the Icelandic and Norwegian languages, to be published in the EEA Supplement to the Official Journal of the European Union, shall be authentic.

This Decision shall enter into force on […],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 …/… of … [incorporating the ESMA Regulation (EU) No 1095/2010], whichever is the later.

This Decision shall be published in the EEA Section of, and in the EEA Supplement to, the Official Journal of the European Union.

‘6 Prior to delegation of a task, the EFTA Surveillance Authority and ESMA shall consult each other.’;

The texts of Regulation (EU) No 648/2012 in the Icelandic and Norwegian languages, to be published in the EEA Supplement to the Official Journal of the European Union, shall be authentic.

This Decision shall enter into force on […], 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 …/… of … [incorporating the ESMA Regulation (EU) No 1095/2010], whichever is the later.

This Decision shall be published in the EEA Section of, and in the EEA Supplement to, the Official Journal of the European Union.

‘5 Prior to the delegation of a task, the EFTA Surveillance Authority and ESMA shall consult each other.’;

The texts of Regulations (EU) No 513/2011 and (EU) No 462/2013 in the Icelandic and Norwegian languages, to be published in the EEA Supplement to the Official Journal of the European Union, shall be authentic.

This Decision shall enter into force on […], 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 …/… of … [incorporating Regulation (EU) No 1095/2010], whichever is the later.

This Decision shall be published in the EEA Section of, and in the EEA Supplement to, the Official Journal of the European Union.

The following is inserted after point 31ebd (Commission Implementing Decision 2012/630/EU) of Annex IX to the EEA Agreement: ‘31ebe. 32014 D 0245: Commission Implementing Decision 2014/245/EU of 28 April 2014 on the recognition of the legal and supervisory framework of Brazil as equivalent to the requirements of Regulation (EC) No 1060/2009 of the European Parliament and of the Council on credit rating agencies (OJ L 132, 3.5.2014, p. 65). 31ebf. 32014 D 0246: Commission Implementing Decision 2014/246/EU of 28 April 2014 on the recognition of the legal and supervisory framework of Argentina as equivalent to the requirements of Regulation (EC) No 1060/2009 of the European Parliament and of the Council on credit rating agencies (OJ L 132, 3.5.2014, p. 68). 31ebg. 32014 D 0247: Commission Implementing Decision 2014/247/EU of 28 April 2014 on the recognition of the legal and supervisory framework of Mexico as equivalent to the requirements of Regulation (EC) No 1060/2009 of the European Parliament and of the Council on credit rating agencies(OJ L 132, 3.5.2014, p. 71). 31ebh. 32014 D 0248: Commission Implementing Decision 2014/248/EU of 28 April 2014 on the recognition of the legal and supervisory framework of Singapore as equivalent to the requirements of Regulation (EC) No 1060/2009 of the European Parliament and of the Council on credit rating agencies (OJ L 132, 3.5.2014, p. 73). 31ebi. 32014 D 0249: Commission Implementing Decision 2014/249/EU of 28 April 2014 on the recognition of the legal and supervisory framework of Hong Kong as equivalent to the requirements of Regulation (EC) No 1060/2009 of the European Parliament and of the Council on credit rating agencies (OJ L 132, 3.5.2014, p. 76). 31ebj. 32012 R 0272: Commission Delegated Regulation (EU) No 272/2012 of 7 February 2012 supplementing Regulation (EC) No 1060/2009 of the European Parliament and of the Council with regard to fees charged by the European Securities and Markets Authority to credit rating agencies (OJ L 90, 28.3.2012, p. 6). The provisions of the Delegated Regulation shall, for the purposes of this Agreement, be read with the following adaptations: (a) In Article 1, as regards the EFTA States, the words ‘or the EFTA Surveillance Authority, as the case may be,’ shall be inserted after the words ‘the European Securities and Markets Authority (ESMA)’; (b) In Article 2, the words ‘or the EFTA Surveillance Authority, as the case may be,’ shall be inserted after the word ‘ESMA’; (c) In Article 5(3): (i) in the fourth subparagraph, as regards the EFTA States, the word ‘ESMA’ shall read ‘the EFTA Surveillance Authority’ (ii) the following subparagraph shall be added: ‘When, as regards credit rating agencies established in the EFTA States, the EFTA Surveillance Authority is to send the invoices for the instalments, ESMA shall inform the EFTA Surveillance Authority of the calculations necessary as regards each credit rating agency sufficiently in advance of the respective payment date.’; (d) In Article 6(7): (i) as regards the EFTA States, the word ‘ESMA’ shall read ‘the EFTA Surveillance Authority’; (ii) the following subparagraph shall be added: ‘When, as regards credit rating agencies established in the EFTA States, the EFTA Surveillance Authority is to reimburse part of the registration fee paid, ESMA shall without delay make available the amounts to be reimbursed to a credit rating agency to the EFTA Surveillance Authority for that purpose.’; (e) In Article 9: (i) in paragraph 1, the words ‘Only ESMA’ shall be replaced by the words ‘Only ESMA or, as regards credit rating agencies established in the EFTA States, the EFTA Surveillance Authority’; (ii) the words ‘or the EFTA Surveillance Authority, as the case may be,’ shall be inserted after the word ‘ESMA’. 31ebk. 32012 R 0446: Commission Delegated Regulation (EU) No 446/2012 of 21 March 2012 supplementing Regulation (EC) No 1060/2009 of the European Parliament and of the Council with regard to regulatory technical standards on the content and format of ratings data periodic reporting to be submitted to the European Securities and Markets Authority by credit rating agencies (OJ L 140, 30.5.2012, p. 2). 31ebl. 32012 R 0447: Commission Delegated Regulation (EU) No 447/2012 of 21 March 2012 supplementing Regulation (EC) No 1060/2009 of the European Parliament and of the Council by laying down regulatory technical standards for the assessment of compliance of credit rating methodologies (OJ L 140, 30.5.2012, p. 14). 31ebm. 32012 R 0448: Commission Delegated Regulation (EU) No 448/2012 of 21 March 2012 supplementing Regulation (EC) No 1060/2009 of the European Parliament and of the Council with regard to regulatory technical standards for the presentation of the information that credit rating agencies shall make available in a central repository established by the European Securities and Markets Authority (OJ L 140, 30.5.2012, p. 17). 31ebn. 32012 R 0449: Commission Delegated Regulation (EU) No 449/2012 of 21 March 2012 supplementing Regulation (EC) No 1060/2009 of the European Parliament and of the Council with regard to regulatory technical standards on information for registration and certification of credit rating agencies (OJ L 140, 30.5.2012, p. 32). The provisions of the Delegated Regulation shall, for the purposes of this Agreement, be read with the following adaptations: (a) In Article 1, as regards the EFTA States, the words ‘or the EFTA Surveillance Authority, as the case may be,’ shall be inserted after the word ‘ESMA’; (b) In Chapter 2 and in Annexes IV and V, as regards the EFTA States, the word ‘ESMA’ shall read ‘the EFTA Surveillance Authority’. 31ebo. 32012 R 0946: Commission Delegated Regulation (EU) No 946/2012 of 12 July 2012 supplementing Regulation (EC) No 1060/2009 of the European Parliament and of the Council with regard to rules of procedure on fines imposed to credit rating agencies by the European Securities and Markets Authority, including rules on the right of defence and temporal provisions is to be incorporated (OJ L 282, 16.10.2012, p. 23). The provisions of the Delegated Regulation shall, for the purposes of this Agreement, be read with the following adaptations: (a) In Article 1, as regards the EFTA States, the words ‘the European Securities and Markets Authority (ESMA)’ and ‘ESMA’ shall read ‘the EFTA Surveillance Authority’; (b) In Article 2, as regards the EFTA States, the words ‘and the EFTA Surveillance Authority’ shall be inserted after the words ‘ESMA's Board of Supervisors’; (c) In Article 3, as regards the EFTA States: (i) in paragraph 1, the words ‘and the EFTA Surveillance Authority’ shall be inserted after the words ‘ESMA's Board of Supervisors’; (ii) the words ‘inform the EFTA Surveillance Authority thereof. The EFTA Surveillance Authority shall, without undue delay,’ shall be inserted after the words ‘it shall’ in paragraphs 2, 4 and 5 and before the words ‘take a decision’ in paragraph 3; (iii) in the second subparagraph of paragraph 4 and in the third sentence of the first subparagraph of paragraph 5, the words ‘, before preparing a draft for the EFTA Surveillance Authority, or the EFTA Surveillance Authority’ shall be inserted after the words ‘ESMA's Board of Supervisors’; (iv) in the third subparagraph of paragraph 4 and in the second subparagraph of paragraph 5, the words ‘or, as the case may be, the EFTA Surveillance Authority’ shall be inserted after the words ‘ESMA's Board of Supervisors’; (v) in paragraph 6, the words ‘ESMA's Board of Supervisors’ shall read ‘the EFTA Surveillance Authority’; (d) In Article 4, as regards the EFTA States: (i) in the first subparagraph, the words ‘Board of Supervisors’ and ‘Board of Supervisor’ shall read ‘the EFTA Surveillance Authority’ (ii) in the third subparagraph, the words ‘or, as the case may be, the EFTA Surveillance Authority’ shall be inserted after the words ‘ESMA's Board of Supervisors’; (e) In Article 5, as regards the EFTA States: (i) the words ‘or, as the case may be, the EFTA Surveillance Authority’ shall be inserted after the word ‘ESMA’; (ii) the words ‘Board of Supervisors’ shall read ‘the EFTA Surveillance Authority’; (f) In Article 6, as regards the EFTA States: (i) in paragraphs 1 and 4, the word ‘ESMA’ shall read ‘the EFTA Surveillance Authority’; (ii) in paragraphs 3 and 5, the words ‘or the EFTA Surveillance Authority’shall be inserted after the word ‘ESMA’; (iii) in paragraph 5, the words ‘the Board of Appeal, in accordance with Article 58 of Regulation (EU) No 1095/2010 of the European Parliament and of the Council (1), and before the Court of Justice of the European Union, in accordance with Article 36e of Regulation (EC) No 1060/2009’ shall read ‘the EFTA Court in accordance with Article 35 of the Agreement between the EFTA States on the Establishment of a Surveillance Authority and a Court of Justice’; (g) In Article 7, as regards the EFTA States: (i) the word ‘ESMA’ shall read ‘the EFTA Surveillance Authority’; (ii) in paragraph 5(b), the words ‘ESMA Board of Appeal, in accordance with Article 58 of Regulation (EU) No 1095/2010 of the European Parliament and of the Council, and the Court of Justice of the European Union, in accordance with Article 36e of Regulation (EC) No 1060/2009’ shall read ‘the EFTA Court in accordance with Article 35 of the Agreement between the EFTA States on the Establishment of a Surveillance Authority and a Court of Justice’.’.

The texts of Delegated Regulations (EU) No 272/2012, (EU) No 446/2012, (EU) No 447/2012, (EU) No 448/2012, (EU) No 449/2012 and (EU) No 946/2012 and Implementing Decisions 2014/245/EU, 2014/246/EU, 2014/247/EU, 2014/248/EU and 2014/249/EU in the Icelandic and Norwegian languages, to be published in the EEA Supplement to the Official Journal of the European Union, shall be authentic.

This Decision shall enter into force on […], 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 …/… of… [incorporating Regulation (EU) No 513/2011], whichever is the later.

This Decision shall be published in the EEA Section of, and in the EEA Supplement to, the Official Journal of the European Union.