On 4 February 2019, the European Commission adopted a number of proposals for decisions of the Council of the EU regarding the incorporation of certain financial services Directives into the EEA Agreement. The proposed decisions adopted are:

• Proposal for a Council decision on the position to be adopted, on behalf of EU, within the EEA Joint Committee concerning an amendment to Annex IX (Financial services) and Annex XIX (Consumer protection) to the EEA Agreement. This decision concerns the incorporation of the Mortgage Credit Directive into the EEA Agreement;

• Proposal for a Council decision on the position to be adopted, on behalf of the European Union, within the EEA Joint Committee, concerning an amendment to Annex IX (Financial Services) to the EEA Agreement. This decision concerns the incorporation of the Capital Requirements Directive and the Capital Requirements Regulation into the EEA Agreement; and
• Proposal for a Council decision on the position to be adopted, on behalf of the European Union, within the EEA Joint Committee, concerning an amendment to Annex IX (Financial Services) to the EEA Agreement. This decision concerns the incorporation of MiFID and MiFIR into the EEA Agreement.

The adopted proposals must now be adopted by the Council of the EU. The decision will enter into force on the date of its adoption by the Council.

On the same day, the European Commission adopted a Delegated Regulation supplementing the European Venture Capital Funds (EuVECA) Regulation with regard to conflicts of interest in the area of European venture capital funds. The Delegated Regulation specifies the various types of conflicts of interest referred to in Article 9 of the EuVECA Regulation, and the steps that managers of EuVECA funds need to take to manage such conflicts. The Delegated Regulation will next be considered by the European Parliament and the Council of the EU.