Mifid Ii Eea Agreement

The Contracting Parties agree that this Decision implements the Agreement expressed in Conclusions 8 of the EU and EFTA Ministers of Finance and Economy of 14 October 2014 integrating the EU-ESA Regulations into the EEA Agreement. . The adaptations contained in the draft decisions of the EEA Joint Committee attached thereto go beyond what may be regarded as mere technical adaptations within the meaning of Council Regulation No 2894/94. The Union`s position is therefore adopted by the Council. However, investment services firms are responsible for adapting any existing notification to the amended legislation. . The original Markets in Financial Instruments Directive (MiFID) entered into force in November 2007. The onset of the ensuing global financial crisis revealed some weaknesses in its arrangements.