Unifying Financial Rules Across the EEA

Summary of the EU Council Decision on the EEA Joint Committee’s position for amending Annex IX (Financial services)

• Purpose: The European Commission proposes that the EU’s position in the EEA Joint Committee be adopted to amend Annex IX of the European Economic Area (EEA) Agreement. The amendment will incorporate EU regulations on financial services – Regulation (EU) 2019/2175, Regulation (EU) 2019/2176 and Directive (EU) 2019/2177 – into the EEA Agreement.

• Context

• The EEA Agreement, which entered into force on 1 January 1994, gives EU and EFTA states (Norway, Iceland, Liechtenstein) equal rights and obligations in the internal market and covers areas such as research, education, social policy, environment, consumer protection, tourism and culture.

• The EEA Joint Committee is the forum that manages the Agreement; its decisions are taken by consensus and are binding on all parties.

• Legal basis

• Procedural: Article 218(9) of the Treaty on the Functioning of the European Union (TFEU) and Article 1(3) of Council Regulation (EC) No 2894/94.

• Substantive: Article 53(1), 62 and 114 of the TFEU, because the amendment incorporates EU regulations.

• Key elements of the amendment

• The EU’s financial supervisory authorities (European Banking Authority, European Insurance and Occupational Pensions Authority, European Securities and Markets Authority) and the EFTA Surveillance Authority will have the same roles as in the EU.

• EFTA states will contribute financially: 60 % of the part of the ESAs budget covered by EU member states and 40 % of the part directly funded by the EU budget.

• The amendment will be binding under Articles 103 and 104 of the EEA Agreement.

• Procedure

• The Commission submits the draft decision to the Council.

• Once adopted, the Council’s decision will be presented to the EEA Joint Committee at the earliest opportunity.

• The decision will enter into force on the date of its adoption and will be published in the Official Journal of the European Union (EEA Supplement).

• Other details

• The decision is identified as COM(2026) 80 final (2026/0050).

• The amendment will be in English and will be published in the Official Journal L series (daily view) and the Official Journal C series (daily view).

• The decision confirms that the incorporation of the EU regulations does not affect the direct application of Protocol 7 on privileges and immunities for EFTA nationals in EU territory.

This decision will align the EEA Agreement’s financial‑services rules with the EU’s current regulatory framework, ensuring consistent supervision and cooperation across all 30 EEA states.