Law On The Eea Financial Supervision

Original Language Title: Lov om EØS-finanstilsyn

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Read the untranslated law here: https://lovdata.no/dokument/NL/lov/2016-06-17-30

Law on the EEA Financial Supervision


Date LOV-2016-06-17-30


Affairs Ministry

Edited



Published in 2016 Booklet 8


Commencement King decides

Changes

LOV-2007-06-29-75, LOV-2014-06-20-30

Promulgated
17/06/2016

Short Title
Law on the EEA Financial Supervision

Ref. EEA Agreement Annex IX. 31g (Regulation (EC). 1093/2010), no. 31H (Regulation (EC). 1094/2010), no. 31i (Regulation (EC). 1095/2010) and no. 31f (Regulation (EC). 1092/2010).

§ 1. EEA rules on European Banking Authority EEA Agreement Annex IX. 31g (Regulation (EC). 1093/2010) establishing a European Supervisory Authority (European Banking Authority) as amended by Regulation (EC) no. 1022/2013, apply that law to the adjustments required by Annex IX, protocol 1 to the agreement and the agreement otherwise.
Effective from the time the Ministry of Finance determines, see § 7.

§ 2. EEA rules on European supervisory authority for the insurance and occupational pensions EEA Agreement Annex IX. 31H (Regulation (EC). 1094/2010) on the establishment of a European supervisory authority (the European supervisory authority for the insurance and occupational pensions ) apply that law to the adjustments required by Annex IX, protocol 1 to the agreement and the agreement otherwise.
Effective from the time the Ministry of Finance determines, see § 7.

§ 3. EEA rules on European securities and markets supervisory authority EEA Agreement Annex IX. 31i (Regulation (EC). 1095/2010) establishing a European Supervisory Authority (European Securities and Market Supervisory Authority) as amended by Directive 2011/61 / EC apply that law to the adjustments required by Annex IX, protocol 1 to the agreement and the agreement otherwise.
Effective from the time the Ministry of Finance determines, see § 7.

§ 4. EEA rules on the European Council for Systemic Risk EEA Agreement Annex IX. 31f (Regulation (EC). 1092/2010) on macro-supervision of the financial system in the European Union and establishing a European Council systemic risk (European Council for systemic risk) apply that law to the adjustments required by Annex IX, protocol 1 to the agreement and the agreement otherwise.
Effective from the time the Ministry of Finance determines, see § 7.

§ 5. Supplementary provisions The Ministry may issue further regulations to implement this Act.
Effective from the time the Ministry of Finance determines, see § 7.

§ 6. Entry into force and transitional provisions This Act applies when the King bestemmer.1 King may bring into force individual provisions at different times. The King may issue transitional provisions.

§ 7. Amendments to other laws 1. In Act 29 June 2007 no. 75 Securities amended as follows:
New § 3-14a should read:

§ 3-14a. Sales of financial instruments that the seller does not own

EEA Agreement Annex IX. 29f (Regulation (EC). 236/2012) on short selling and certain aspects of credit default swaps (short selling Regulation) apply that law to the adjustments required by Annex IX, Protocol 1 to the EEA agreement incidentally. The Ministry may issue further rules for the implementation of this provision.
New § 13-6a should read:
EEA Agreement Annex IX. 29bc (Regulation (EC). 648/2012) on OTC derivatives, central counterparties and transaction registers (EMIR) applies as law with adjustments resulting from Annex IX, protocol 1 to the agreement and the agreement otherwise. The Ministry may issue further rules for the implementation of this provision.
2. In the Act of 20 June 2014 No.. 30 on credit rating agencies is amended as follows:
§ 1 shall read:
EEA Agreement Annex IX. 31eb (Regulation (EC) No. 1060/2009) on credit rating agencies (credit rating agency Regulation) as amended by Regulation (EC). 513/2011, Directive 2011/61 / EC and Regulation (EC). 462/2013 applies as law with such modifications as required by Annex IX, protocol 1 to the agreement and the agreement otherwise .
Effective from the time the Ministry of Finance determines, see § 7.