Scope of application

These Guidelines apply at authorisation and on an ongoing basis to competent authorities, as defined in Article 3(1) point (35) (a) of Regulation (EU) 2023/1114, and to issuers of ARTs.

The guidelines apply to all issuers of ARTs, independently of their existing board structures.

Any reference to management body also includes issuers of ARTs that are legal persons managed by a single natural person.

Issuers of ARTs should comply and competent authorities should ensure that issuers of ARTs comply with these guidelines, including, where applicable, on a group wide basis.