(1)

Given the broad variety of OTC derivative contracts, in order to determine when an OTC derivative contract may be considered to have a direct, substantial and foreseeable effect within the Union and cases where it is necessary or appropriate to prevent the evasion of rules and obligations arising from any provision of Regulation (EU) No 648/2012, a criteria based approach should be adopted.

(2)

Given that pursuant to Article 13(3) of Regulation (EU) No 648/2012, the provisions of that Regulation would be deemed fulfilled when at least one of the counterparties is established in a country for which the Commission has adopted an implementing act declaring equivalence in accordance with Article 13(2) of Regulation (EU) No 648/2012, these regulatory technical standards should apply to contracts where both counterparties are established in a third country whose legal, supervisory and enforcement arrangements have not yet been declared equivalent to the requirements laid down in that Regulation.

(3)

Certain information on contracts concluded by third country entities would still only be available to third country competent authorities. Therefore Union competent authorities should closely cooperate with those authorities in order to ensure that the relevant provisions are applied and enforced.

(4)

Given that a technical term is necessary for a comprehensive understanding of the appropriate technical standards, this term should be defined.

(5)

OTC derivative contracts concluded by entities established in third countries covered by a guarantee provided by entities established in the Union create a financial risk for the guarantor established in the Union. Furthermore, given that the risk would depend on the size of the guarantee granted by financial counterparties in order to cover OTC derivative contracts and given the interconnections between financial counterparties compared to non-financial counterparties, only OTC derivative contracts concluded by entities established in third countries that are covered by a guarantee which exceeds certain quantitative thresholds and is provided by financial counterparties established in the Union should be considered as having a direct, substantial and foreseeable effect in the Union.

(6)

Financial counterparties established in third countries can enter into OTC derivative contracts through their Union branches. Given the impact of the activity of those branches on the Union market, OTC derivative contracts concluded between those Union branches should be considered to have a direct, substantial and foreseeable effect within the Union.

(7)

OTC derivative contracts that are entered into by specific counterparties with the primary purpose of avoiding the application of the clearing obligation or of the risk mitigation techniques applicable to entities that would have been the natural counterparties to the contract, should be considered as evading the rules and obligations laid down in Regulation (EU) No 648/2012 as they hinder the achievement of a purpose of that Regulation, namely mitigating counterparty credit risk.

(8)

OTC derivative contracts that are part of an arrangement whose characteristics are not supported by a business rationale or commercial substance and has as its primary purpose the circumvention of the application of Regulation (EU) No 648/2012, including rules relating to the conditions of an exemption, should be considered as evading the rules and obligations laid down in that Regulation.

(9)

Situations where the individual components of the arrangement are inconsistent with the legal substance of the arrangement as a whole, where the arrangement is carried out in a manner which would not ordinarily be used in what is expected to be reasonable business conduct, where the arrangement or series of arrangements includes elements that have the effect of offsetting or nullifying their reciprocal economic substance, where transactions are circular in nature, should be considered as indicators of an artificial arrangement or an artificial series of arrangements.

(10)

It is desirable to provide technical standards related to contracts that have a direct, substantial and foreseeable effect within the Union as well as technical standards related to the prevention of evasion of rules and obligations provided for in Regulation (EU) No 648/2012 in a single instrument since both sets of technical standards relate to the clearing obligation and the risk mitigation techniques. Furthermore, they share common features such as their application to a contract whose counterparties would not be subject to the clearing obligation or to the risk mitigation techniques if the conditions of Article 4(1)(a)(v) and Article 11(14)(e) of Regulation (EU) No 648/2012 specified further by this Regulation were not met.

(11)

Given that third country entities affected by these regulatory technical standards require time in order to arrange for compliance with the requirements of Regulation (EU) No 648/2012 when their OTC derivative contracts fulfil the conditions set out in these regulatory technical standards for being considered to have a direct, substantial and foreseeable effect within the Union, it is appropriate to delay the application of the provision containing those conditions by six months.

(12)

This Regulation is based on the draft regulatory technical standards submitted by the European Securities and Markets Authority to the Commission.

(13)

In accordance with Article 10 of Regulation (EU) No 1095/2010 of the European Parliament and of the Council (2), the European Securities and Markets Authority has conducted open public consultations on the draft regulatory technical standards, analysed the potential related costs and benefits and requested the opinion of the Securities and Markets Stakeholder Group established in accordance with Article 37 of that Regulation,

(1)

Implementing Regulation (EU) No 543/2011 lays down, pursuant to the outcome of the Uruguay Round multilateral trade negotiations, the criteria whereby the Commission fixes the standard values for imports from third countries, in respect of the products and periods stipulated in Annex XVI, Part A thereto.

(2)

The standard import value is calculated each working day, in accordance with Article 136(1) of Implementing Regulation (EU) No 543/2011, taking into account variable daily data. Therefore this Regulation should enter into force on the day of its publication in the Official Journal of the European Union,

(1)

Commission Regulation (EC) No 1484/95 (2) lays down detailed rules for implementing the system of additional import duties and fixes representative prices in the poultrymeat and egg sectors and for egg albumin.

(2)

Regular monitoring of the data used to determine representative prices for poultrymeat and egg products and for egg albumin shows that the representative import prices for certain products should be amended to take account of variations in price according to origin.

(3)

Regulation (EC) No 1484/95 should be amended accordingly.

(4)

Given the need to ensure that this measure applies as soon as possible after the updated data have been made available, this Regulation should enter into force on the day of its publication,

(1)

Pursuant to Article 6(1) of Joint Action 2008/851/CFSP, the Council authorised the Political and Security Committee (‘PSC’) to take decisions on the appointment of the EU Force Commander for the European Union military operation to contribute to the deterrence, prevention and repression of acts of piracy and armed robbery off the Somali coast (‘EU Force Commander’).

(2)

On 2 December 2013, the PSC adopted Decision Atalanta/3/2013 (2) appointing Rear Admiral Hervé BLEJEAN as EU Force Commander.

(3)

The EU Operation Commander has recommended the appointment of Rear Admiral (LH) Jürgen zur MÜHLEN as the new EU Force Commander to succeed Rear Admiral Hervé BLEJEAN.

(4)

The EU Military Committee supports that recommendation.

(5)

Decision Atalanta/3/2013 should therefore be repealed.

(6)

In accordance with Article 5 of Protocol No 22 on the position of Denmark, annexed to the Treaty on European Union and to the Treaty on the Functioning of the European Union, Denmark does not participate in the elaboration and the implementation of decisions and actions of the Union which have defence implications,

(1)

On 21 March 2011, the Council adopted Decision 2011/172/CFSP (1).

(2)

On the basis of a review of Decision 2011/172/CFSP, the restrictive measures contained in that Decision should be renewed until 22 March 2015.

(3)

Decision 2011/172/CFSP should therefore be amended accordingly,

(1)

On 28 July 2011, the company Gnosis SpA made a request to the competent authorities of Ireland to place (6S)-5-methyltetrahydrofolic acid, glucosamine salt on the market as a novel food ingredient for use in food supplements.

(2)

On 26 October 2011, the competent food assessment body of Ireland issued its initial assessment report. In that report it came to the conclusion that (6S)-5-methyltetrahydrofolic acid, glucosamine salt meets the criteria set out in Article 3(1) of Regulation (EC) No 258/97.

(3)

On 28 February 2012, the Commission forwarded the initial assessment report to the other Member States.

(4)

Reasoned objections were raised within the 60-day period laid down in the first subparagraph of Article 6(4) of Regulation (EC) No 258/97.

(5)

On 14 September 2012 and on 5 March 2013 the Commission consulted the European Food Safety Authority (EFSA) asking it to carry out an additional assessment for (6S)-5-methyltetrahydrofolic acid, glucosamine salt as food ingredient in accordance with Regulation (EC) No 258/97.

(6)

On 11 September 2013, EFSA adopted a Scientific Opinion on (6S)-5-methyltetrahydrofolic acid, glucosamine salt as a source of folate added for nutritional purposes to food supplements (2), concluding that (6S)-5-methyltetrahydrofolic acid, glucosamine salt is not of safety concern as a source of folate.

(7)

The opinion gives sufficient grounds to establish that (6S)-5-methyltetrahydrofolic acid, glucosamine salt as a source of folate complies with the criteria laid down in Article 3(1) of Regulation (EC) No 258/97.

(8)

Directive 2002/46/EC of the European Parliament and of the Council (3), lays down specific provisions for the use of vitamins and minerals in food supplements. The use of (6S)-5-methyltetrahydrofolic acid, glucosamine salt should be authorised without prejudice to the requirements of this legislation.

(9)

The measures provided for in this Decision are in accordance with the opinion of the Standing Committee on the Food Chain and Animal Health,

(1)

On 21 July 2011, the company Nestec Ltd made a request to the competent authorities of Ireland to place coriander seed oil on the market as a novel food ingredient.

(2)

On 19 October 2011, the competent food assessment body of Ireland issued its initial assessment report. In that report the Food Safety Authority of Ireland stated that it has not identified any safety concerns with the consumption of food supplements containing coriander seed oil at the proposed use levels of 600 mg/day and therefore considers that this novel ingredient meets the criteria for novel food set out in Article 3(1) of Regulation (EC) No 258/97.

(3)

On 8 November 2011, the Commission forwarded the initial assessment report to the other Member States.

(4)

Reasoned objections were raised within the 60 day period laid down in the first subparagraph of Article 6(4) of Regulation (EC) No 258/97.

(5)

On 14 February 2013, the Commission consulted the European Food Safety Authority (EFSA) asking it to carry out an additional assessment for coriander seed oil as food ingredient in accordance with Regulation (EC) No 258/97.

(6)

On 10 October 2013, EFSA adopted a Scientific Opinion on the safety of coriander seed oil as a novel food ingredient (2), concluding that it is safe under the proposed uses and use levels.

(7)

The opinion gives sufficient grounds to establish that coriander seed oil in the proposed uses and use levels complies with the criteria laid down in Article 3(1) of Regulation (EC) No 258/97.

(8)

Directive 2002/46/EC of the European Parliament and of the Council (3) lays down requirements on food supplements. The use of coriander seed oil should be authorised without prejudice to the requirements of this legislation.

(9)

The measures provided for in this Decision are in accordance with the opinion of the Standing Committee on the Food Chain and Animal Health,

(1)

Regulation (EC) No 1224/2009 applies to all activities covered by the CFP carried out on the territory of Member States or in Union waters or by Union fishing vessels or, without prejudice to the primary responsibility of the flag Member State, by nationals of Member States, and lays down in particular that Member States shall ensure that control, inspection and enforcement are carried out on a non-discriminatory basis as regards sectors, vessels or persons, and on the basis of risk management.

(2)

Council Regulation (EC) No 302/2009 (2) lays down the general rules for the application by the Union of a multiannual recovery plan for Bluefin tuna (Thunnus thynnus) recommended by the International Commission for the Conservation of Atlantic tunas (‘ICCAT’).

(3)

Council Regulation (EC) No 1967/2006 (3) lays down rules concerning technical measures, management plans and specific measures for highly migratory species, for the purposes of the conservation, management and exploitation of living aquatic resources.

(4)

At its 37th Annual meeting, in May 2013, the General Fisheries Commission of the Mediterranean (GFCM) approved Recommendation GFCM 37/2013/1 (4) on a multiannual management plan for fisheries on small pelagic stocks in the GFCM-geographical sub area 17 (Northern Adriatic Sea) and on transitional conservation measures for fisheries on small pelagic stocks in geographical sub area 18 (Southern Adriatic Sea).

(5)

At its Annual meeting of 2011, ICCAT adopted Recommendation [11-03] (5) for management measures for Mediterranean Swordfish. Provisions in recommendations approved by regional fisheries management organizations are binding to Member States and therefore relevant for this Decision, which addresses the way Member States shall plan, schedule and carry out their control and inspection of activities carried out within the scope of the CFP.

(6)

Article 95 of Regulation (EC) No 1224/2009 provides for the possibility for the Commission to determine, with the Member States concerned, the fisheries which are to be subject to a specific control and inspection programme. Such a specific control and inspection programme has to state the objectives, priorities and procedures as well as benchmarks for inspection activities to be established on the basis of risk management and to be revised periodically after an analysis of the achieved results. Member States concerned are obliged to adopt the necessary measures to ensure the implementation of the specific control and inspection programme, particularly as regards required human and material resources and the periods and zones where these are to be deployed.

(7)

Article 95(2) of Regulation (EC) No 1224/2009 provides that the specific control and inspection programme states benchmarks for inspection activities that are to be established on the basis of risk management. For this purpose, it is appropriate to lay down common risk assessment and management criteria for checking, inspection and verification activities in order to allow timely risk analyses and global assessments of relevant control and inspection information. The common criteria aim at ensuring a harmonised approach to inspection and verification in all Member States and establishing a level playing field for all operators.

(8)

The specific control and inspection programme should be established for the period from 16 March 2014 until 15 March 2018 and should be implemented by Croatia, Cyprus, France, Greece, Italy, Malta, Portugal, Slovenia and Spain.

(9)

Article 98(1) and (3) of Commission Implementing Regulation (EU) No 404/2011 (6) provides that, without prejudice to provisions contained in multi-annual plans, competent authorities of Member States have to adopt a risk based approach for the selection of targets for inspection, using all available information and, subject to a risk based control and enforcement strategy, carry out the necessary inspection activities in an objective way in order to prevent the retention on board, transhipment, landing, processing, transport, storage, marketing and stocking of fishery products originating from activities that are not in compliance with the rules of the CFP.

(10)

The European Fisheries Control Agency set up by Council Regulation (EC) No 768/2005 (7) (‘EFCA’) coordinates the implementation of the specific control and inspection programme through a joint deployment plan, which gives effect to the objectives, priorities, procedures and benchmarks for inspection activities determined in the specific control and inspection programme, and identifies the means of control and inspection which could be pooled by each Member State concerned. Relations between procedures defined by the specific control and inspection programme and those defined by the joint deployment plan, should therefore be clarified.

(11)

In order to harmonise the control and inspection procedures of the fisheries exploiting stocks of bluefin tuna in the Eastern Atlantic and the Mediterranean, swordfish in the Mediterranean and stocks of sardines and anchovy in the Northern Adriatic Sea, and to ensure the success of the multiannual plans and management measures for these stocks and their fisheries, it is appropriate to draw up rules for the control and inspection activities to be carried out by the competent authorities of the Member States concerned, including mutual access to relevant data. To that end, target benchmarks and objectives should determine the intensity and priorities of control and inspection activities.

(12)

Joint inspection and surveillance activities between the Member States concerned should be carried out, where applicable, in accordance with joint deployment plans established by the EFCA so as to enhance uniformity of control, inspection and surveillance practices and help developing the coordination of control, inspection and surveillance activities between the competent authorities of those Member States.

(13)

The results obtained through the application of the specific control and inspection programme should be assessed by means of annual evaluation reports to be communicated by each Member State concerned to the Commission and to the EFCA.

(14)

The measures provided for in this Decision have been established in concert with the Member States concerned. This Decision should therefore be addressed to these Member States.

(15)

The measures provided for in this Decision are in accordance with the opinion of the Committee for Fisheries and Aquaculture.