Judgment of the Court of 5 December 2024 in Case E-10/24 – EFTA Surveillance Authority v Iceland (Failure by an EFTA State to fulfil its obligations – Failure to implement – Commission Delegated Regulation (EU) 2021/923 of 25 March 2021 supplementing Directive 2013/36/EU of the European Parliament and of the Council with regard to regulatory technical standards setting out the criteria to define managerial responsibility, control functions, material business units and a significant impact on a material business unit’s risk profile, and setting out criteria for identifying staff members or categories of staff whose professional activities have an impact on the institution’s risk profile that is comparably as material as that of staff members or categories of staff referred to in Article 92(3) of that Directive)
Date: 2024-12-05
Institutions: EFTA Court
Subjects: European Economic Area, Iceland, financial institution, financial supervision, job description, national implementing measure, occupational status, professional qualifications, staff, technical standard








C_202501925EN.000101.fmx.xml












Official Journal of the European Union


EN
C series













C/2025/1925


27.3.2025







            JUDGMENT OF THE COURT
         
of 5 December 2024
         
in Case E-10/24
EFTA Surveillance Authority v Iceland


(Failure by an EFTA State to fulfil its obligations – Failure to implement – Commission Delegated Regulation (EU) 2021/923 of 25 March 2021 supplementing Directive 2013/36/EU of the European Parliament and of the Council with regard to regulatory technical standards setting out the criteria to define managerial responsibility, control functions, material business units and a significant impact on a material business unit’s risk profile, and setting out criteria for identifying staff members or categories of staff whose professional activities have an impact on the institution’s risk profile that is comparably as material as that of staff members or categories of staff referred to in Article 92(3) of that Directive)


(C/2025/1925)

In Case E-10/24, EFTA Surveillance Authority v Iceland – APPLICATION seeking a declaration that Iceland has failed to adopt the measures necessary to make the act referred to at point 14i of Annex IX to the EEA Agreement (Commission Delegated Regulation (EU) 2021/923 of 25 March 2021 supplementing Directive 2013/36/EU of the European Parliament and of the Council with regard to regulatory technical standards setting out the criteria to define managerial responsibility, control functions, material business units and a significant impact on a material business unit’s risk profile, and setting out criteria for identifying staff members or categories of staff whose professional activities have an impact on the institution’s risk profile that is comparably as material as that of staff members or categories of staff referred to in Article 92(3) of that Directive), as adapted by Protocol 1 to the EEA Agreement, part of its internal legal order, the Court, composed of Páll Hreinsson, President, Bernd Hammermann and Michael Reiertsen (Judge-Rapporteur), Judges, gave judgment on 5 December 2024, the operative part of which is as follows:
The Court hereby:






1.


Declares that Iceland has failed to fulfil its obligations under Article 7 of the EEA Agreement by failing to make the act referred to at point 14i of Annex IX to the EEA Agreement (Commission Delegated Regulation (EU) 2021/923 of 25 March 2021 supplementing Directive 2013/36/EU of the European Parliament and of the Council with regard to regulatory technical standards setting out the criteria to define managerial responsibility, control functions, material business units and a significant impact on a material business unit’s risk profile, and setting out criteria for identifying staff members or categories of staff whose professional activities have an impact on the institution’s risk profile that is comparably as material as that of staff members or categories of staff referred to in Article 92(3) of that Directive), as adapted by Protocol 1 to the EEA Agreement, part of its internal legal order.










2.


Orders Iceland to bear the costs of the proceedings.






ELI: http://data.europa.eu/eli/C/2025/1925/oj
ISSN 1977-091X (electronic edition)