Article 5 Identification of staff members

Issuers of asset referenced tokens or e-money tokens, shall identify all staff members that have a material impact on the risk profile of those issuers or on the risk profile of the tokens they issue, by applying at least the criteria set out in paragraphs 2 and 3.

1. they are members of the management body or senior management;

2. they have managerial responsibility over the issuer’s control functions or material business units;

3. they have managerial responsibility for:

   1. management of at least one of the following risk categories: liquidity risk, operational risk, including legal risk and information and communication technology risk;

   2. information and communication technology used for the processing of the tokens;

   3. the prevention of money laundering and terrorist financing;

   4. the management of reserve assets;

   5. the token issuance function;

   6. managing outsourcing arrangements with third-party service providers supporting critical or important functions;

   7. finance, including taxation and budgeting;

   8. legal affairs;

   9. the soundness of accounting policies and procedures;

   10. human resources;

   11. the establishment or internal approval of white papers.

A person shall be considered a staff member referred to in paragraph 1 where its professional activities have a comparable impact on the issuers’ risk profile or on the risk profile of the tokens they issue to that of the staff members specified in points (a) to (c) of paragraph 2.