The application of EU legislation to non-EU EEA states
Produced in partnership with Maclay Murray & Spens LLP
The application of EU legislation to non-EU EEA states

The following Financial Services practice note produced in partnership with Maclay Murray & Spens LLP provides comprehensive and up to date legal information covering:

  • The application of EU legislation to non-EU EEA states
  • Background
  • EEA Agreement
  • Defining the concepts of 'common market', 'single market' and 'internal market'
  • Carrying on financial services in other EEA states
  • How decisions relating to the EEA Agreement are made
  • Which EU acts have been incorporated into the EEA Agreement?
  • Identifying which acts have been incorporated:
  • What happens to the EEA if/when the EU is enlarged with new member states?
  • What are the main differences between the EEA Agreement and the Swiss bilaterals?
  • More...

BREXIT: 11pm (GMT) on 31 December 2020 (‘IP completion day’) marked the end of the Brexit transition/implementation period entered into following the UK’s withdrawal from the EU. Following IP completion day, key transitional arrangements come to an end and significant changes begin to take effect across the UK’s legal regime. This document contains guidance on subjects impacted by these changes. Before continuing your research, see: Brexit and financial services: materials on the post-Brexit UK/EU regulatory regime.

Background

The origin of the European Economic Area (EEA) dates from 1990 and was largely the initiative of former European Commission (Commission) President Jacques Delors to create the world's largest internal market, which led to the founding EEA Agreement and the creation of the EEA.

The EEA brings together the following 25 EU Member States:

Austria, Belgium, Bulgaria, Croatia, Cyprus, the Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden and the United Kingdom

(the EU States)

And three of the European Free Trade Association (EFTA) states:

Iceland, Liechtenstein and Norway

(the EEA EFTA States)

The fourth EFTA state, Switzerland, is the only EFTA state that is not an EEA state.

The EFTA continues to exist as an intergovernmental organisation set up for the promotion of free trade and economic integration to the benefit of its four member states (Iceland, Liechtenstein, Norway and Switzerland) with the

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