MiCA Regulation [Eurolex]

Art. 16 - Authorisation Art. 17 - Requirements for banks Art. 18 - Application for authorisation Art. 19 - Whitepaper Art. 20 - Assessment of application Art. 21 - Refusal of authorisation Art. 22 - Reporting on stablecoins Art. 23 - Restrictions on mass stablecoins Art. 24 - Withdrawal of the authorisation Art. 25 - Modification of whitepaper Art. 26 - Liability for whitepaper Art. 27 - Best interest Art. 28 - Whitepaper Art. 29 - Marketing Art. 30 - Ongoing information Art. 31 - Complaints-handling Art. 32 - Conflicts of interest Art. 33 - Changes of management Art. 34 - Governance arrangements Art. 35 - Own funds requirements Art. 36 - Reserve assets Art. 37 - Custody of reserve assets Art. 38 - Investment of the reserves Art. 39 - Right of redemption Art. 40 - Prohibition of granting interest Art. 41 - Acquisition of issuers: Assessment Art. 42 - Acquisitions of issuers: Content Art. 43 - Significant stablecoins Art. 44 - Voluntary significant stablecoins Art. 45 - Obligations for significant stablecoins Art. 46 - Recovery plan Art. 47 - Redemption plan
Art. 59 - Authorisation Art. 60 - Services by licensed entities Art. 61 - Reverse solicitation Art. 62 - Application for authorisation Art. 63 - Assessment of application Art. 64 - Withdrawal of authorisation Art. 65 - Cross-border services Art. 66 - Honest, fair, professional Art. 67 - Prudential requirements Art. 68 - Governance arrangements Art. 69 - Information to authorities Art. 70 - Custody Art. 71 - Complaints-handling procedures Art. 72 - Conflicts of interest Art. 73 - Outsourcing Art. 74 - Orderly wind-down Art. 75 - Custody and administration Art. 76 - Trading platforms Art. 77 - Exchange Art. 78 - Best execution Art. 79 - Placing of crypto-assets Art. 80 - Reception and transmission of orders Art. 81 - Advice and Portfolio Management Art. 82 - Transfers Art. 83 - Acquisitions: Assessment Art. 84 - Acquisitions: Content Art. 85 - Significant service providers
Art. 93 - Competent authorities Art. 94 - Powers of competent authorities Art. 95 - Cooperation Art. 96 - Cooperation EBA and ESMA Art. 97 - Classification of tokens Art. 98 - Other authorities Art. 99 - Duty of notification Art. 100 - Professional secrecy Art. 101 - Data protection Art. 102 - Precautionary measures Art. 103 - ESMA interventions Art. 104 - EBA interventions Art. 105 - Product intervention Art. 106 - Coordination with ESMA or EBA Art. 107 - Third-countries Art. 108 - Complaints-handling Art. 109 - ESMA register Art. 110 - Register of non-compliant firms Art. 111 - Administrative penalties Art. 112 - Supervisory powers Art. 113 - Right of appeal Art. 114 - Publication of decisions Art. 115 - Reporting of penalties Art. 116 - Reporting of infringements Art. 117 - Supervision: stablecoins Art. 118 - EBA crypto-asset committee Art. 119 - Colleges for issuers Art. 120 - Non-binding opinion of colleges Art. 121 - Legal privilege Art. 122 - Request for information Art. 123 - General investigative powers Art. 124 - On-site inspections Art. 125 - Exchange of information Art. 126 - Third countries: information Art. 127 - Third countries: disclosure Art. 128 - Other authorities Art. 129 - Professional secrecy Art. 130 - Supervisory measures EBA Art. 131 - Fines Art. 132 - Periodic penalty payments Art. 133 - Allocation of fines Art. 134 - Fines: procedural rules Art. 135 - Investigation: hearings Art. 136 - Review by the Court of Justice Art. 137 - Supervisory fees Art. 138 - EBA: delegation of tasks Art. 139 - Exercise of the delegation Art. 140 - Reports on MiCA Art. 141 - Report on market Art. 142 - Report on crypto-assets
Art. 143 - Transitional measures

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Article 72 - Conflicts of interest

(Official title: Identification, prevention, management and disclosure of conflicts of interest)

  1. Crypto-asset service providers shall implement and maintain effective policies and procedures, taking into account the scale, the nature and range of crypto-asset services provided, to identify, prevent, manage and disclose conflicts of interest between:

    (a) themselves and:

    (i) their shareholders or members;

    (ii) any person directly or indirectly linked to the crypto-asset service providers or their shareholders or members by control;

    (iii) members of their management body;

    (iv) their employees; or

    (v) their clients; or

    (b) two or more clients whose mutual interests conflict.

  2. Crypto-asset service providers shall, in a prominent place on their website, disclose to their clients and prospective clients the general nature and sources of conflicts of interest referred to in paragraph 1 and the steps taken to mitigate them.

  3. The disclosure referred to in paragraph 2 shall be made in an electronic format and shall include sufficient detail, taking into account the nature of each client, in order to enable each client to take an informed decision about the crypto-asset service in the context of which the conflicts of interest arise.

  4. Crypto-asset service providers shall assess and, at least annually, review their policy on conflicts of interest and take all appropriate measures to address any deficiencies in that respect.

  5. ESMA, in close cooperation with EBA, shall develop draft regulatory technical standards to further specify:

    (a) the requirements for the policies and procedures referred to in paragraph 1, taking into account the scale, the nature and the range of crypto-asset services provided;

    (b) the details and methodology for the content of the disclosure referred to in paragraph 2.

    ESMA shall submit the draft regulatory technical standards referred to in the first subparagraph to the Commission by 30 June 2024.

    Power is delegated to the Commission to supplement this Regulation by adopting the regulatory technical standards referred to in the first subparagraph of this paragraph in accordance with Articles 10 to 14 of Regulation (EU) No 1095/2010.

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