registry@eftasurv.int<\/a><\/li>\r\n<\/ul>\r\n<\/address>\r\n","footer-top":"The EFTA Surveillance Authority (ESA) monitors compliance with European Economic Area rules in Iceland, Liechtenstein and Norway, enabling them to participate in the European Internal Market.<\/p>\r\n"},"menu":[{"name":"ESA at a glance","url":"\/esa-at-a-glance","route":"node","children":[{"name":"Mission and Values","url":"\/esa-at-a-glance\/mission-values","route":"node"},{"name":"College Members","url":"\/esa-at-a-glance\/college-members","route":"node","children":[{"name":"Ad hoc College Members","url":"\/esa-at-a-glance\/college-members\/ad-hoc-college-members","route":"node"}]},{"name":"Staff directory","url":"\/esa-at-a-glance\/staff-directory","route":"node"},{"name":"EEA Agreement","url":"\/esa-at-a-glance\/eea-agreement","route":"node"},{"name":"Data protection","url":"\/esa-at-a-glance\/data-protection","route":"node","children":[{"name":"Register of data processing 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Sj\u00f8g\u00e5rd","url":"\/careers\/staff-portraits-interview-arvid-sjogard","route":"node"}]}],"data":{"node":{"type":"press_release","title":"ESA takes Iceland to court for failing to include EEA financial rules in national law","alias":"\/newsroom\/updates\/esa-takes-iceland-court-failing-include-eea-financial-rules-national-law","language":"en","languages":["en","is"],"body":"
The EFTA Surveillance Authority (ESA) has referred Iceland to the EFTA Court for not transposing four regulations concerning financial services into its national legal order.<\/strong><\/p>\n\nThe four regulations were supposed to have been transposed into national law by March 2023. It is ESA\u2019s role to ensure that a level playing field in financial services across the EEA.<\/p>\n\n
ESA first sent Letters of Formal Notice concerning the regulations to Iceland in May 2023, and Reasoned Opinions in February 2024, succeeded by informal correspondence. ESA does not have any information to suggest that the acts have been incorporated into the national legal order<\/p>\n\n
The EU regulations cover different aspects of financial services, including risk management procedures, registration of trade repositories, clearing obligations and derivatives. <\/p>\n\n
A referral to the EFTA Court is the third and final stage in ESA\u2019s formal infringement proceedings against an EEA EFTA State. It is now up to the EFTA Court to rule on the matter.<\/p>\n\n
Read ESA's decisions here<\/a>, here<\/a>, here <\/a>and here<\/a>.<\/p>\n\nFor further information, please contact: \n <\/p>","summary":"The EFTA Surveillance Authority (ESA) has referred Iceland to the EFTA Court for not transposing four regulations concerning financial services into its national legal order. The four regulations were supposed to have been transposed into national law by March 2023. It is ESA\u2019s role to ensure that a level playing field in financial services across the EEA. ESA first sent...","date":1726056000,"image":{"width":1140,"height":600,"url":"\/cms\/sites\/default\/files\/styles\/1140x600\/public\/images\/press-releases\/iceland-3905007_1280.jpg?itok=ulasqlub","alt":"Reykjavik skyline."},"theme":{"id":27,"title":"Internal Market","weight":1},"number":"PR (24) 46","contactPersons":[{"name":"Jarle Hetland","email":"jhe@eftasurv.int","description":"
Head of Communications<\/p>","mobile":"+32 477 250 192","phone":"+32 2 286 18 66","image":{"width":160,"height":160,"url":"\/cms\/sites\/default\/files\/styles\/person\/public\/images\/contact-persons\/JArle%20Hetland_2020_28.jpg?itok=paRqZTCM","alt":"Jarle Hetland, Head of Communications"}}]}},"dataStatus":"success"}};
You need to enable JavaScript to run this app. ESA takes Iceland to court for failing to include EEA financial rules in national law The EFTA Surveillance Authority (ESA) has referred Iceland to the EFTA Court for not transposing four regulations concerning financial services into its national legal order.
The four regulations were supposed to have been transposed into national law by March 2023. It is ESA’s role to ensure that a level playing field in financial services across the EEA.
ESA first sent Letters of Formal Notice concerning the regulations to Iceland in May 2023, and Reasoned Opinions in February 2024, succeeded by informal correspondence. ESA does not have any information to suggest that the acts have been incorporated into the national legal order
The EU regulations cover different aspects of financial services, including risk management procedures, registration of trade repositories, clearing obligations and derivatives.
A referral to the EFTA Court is the third and final stage in ESA’s formal infringement proceedings against an EEA EFTA State. It is now up to the EFTA Court to rule on the matter.
Read ESA's decisions here , here , here and here .
For further information, please contact: