EEA JC SFTR Added to EEA Agreement

On Dec. 11, EEA JC announced SFTR was added to EEA Agreement.

  • EEA JC announced EEA Joint Committee Decision adding regulation 2015/2365 on reporting, transparency of securities financing transactions (SFTR) to EEA Agreement.
  • Follows EU CNCL Nov. 2015 adopted reg for repo trade transparency, see #24350.
  • Overview
  • Decision 385/2021 amending Annex IX (Financial services) to the EEA Agreement added the said reg to point 31bc on EMIR, made several other changes to framework.
  • It also inserted point 31bh regarding STFR and regulation 2019/463 to agreement.
  • Effectiveness
  • In force on Dec. 11, 2021 if all notifications under art 103(1) of EEA Agreement made.
  • Dec to be published in EEA Section of, in EEA Supplement to, the EU official journal.
  • Mar. 2024 Official Journal
  • On Mar. 14, 2024, EEA JC issued Dec 385/2021 in the Official Journal of the EU.
  • Jun. 2024 Implementation
  • On Jun. 27, 2024, NOR GVT reported the fulfillment of constitutional requirements, therefore EEA Committee's dec 385/2021 will enter into force on Aug. 1, 2024.
  • Follows Storting Resolution 773 agreeing to approval of EEA Committee's decision.
  • Follows NOR GVT Jun. 2024 act amending financial market legislation, see #207608.

Regulators EEA JC; NOR GVT
Entity Types B/D; Bank; Corp; Depo; Exch; HF; IA; Ins; Inv Co; OTC; Pension
Reference PR 6/27/2024; OJ L, 2024/650, 3/14/2024; PR 12/11/2021; Dec 385/2021, 12/10/2021; Reg 2019/463; SFTR Reg 2015/2365; EEA Agreement; Citation: Dec 385/2021;
Functions Client Money; Compliance; Financial; Legal; Operations; Reporting; Risk; Settlement; Treasury
Countries Iceland; Liechtenstein; Norway
Products Banking; Commodities; Fixed Income; Fund Mgt; Hedge Funds; Insurance; Pensions; Repo/Reverse; Securities; Short Sale; Stock Lending
Regions EMEA
Rule Type Final
Rule Date 12/11/2021
Effective Date 8/1/2024
Rule Id 123901
Linked to Rule :24350
Reg. Last Update 6/27/2024
Report Section EU

Last substantive update on 06/28/2024