The Working Group on Financial Services is responsible for the legislation contained in Annex IX of the EEA Agreement.
The EEA EFTA States are full participants in the Internal Market for Financial Services, including the European System of Financial Supervision, where decisions made by the European Supervisory Authorities in the EU are made by the EFTA Surveillance Authority as regards the EEA EFTA States.
The Working Group on Financial Services ensures that all EEA relevant EU legislation in the field of financial services is incorporated into the EEA Agreement. This includes inter alia the CRR/CRD regimes in the banking sector, the Solvency II regime in the insurance sector, the MiFID/MiFIR regimes in the securities sector, and IORP in the pensions sector. The Working Group closely monitors the preparatory work of the European Commission on new legislative initiatives within the field and participates in shaping EU policies and legislation.
See also: Single Market - Financial Services