2. Management function of the management body

The management body in its management function should actively engage in the business of the issuer of ARTs and should take decisions on a sound and well-informed basis.

The management body in its management function, should be responsible for the implementation of the strategies and policies set out by the management body and regularly discuss the implementation and appropriateness of these strategies and policies with the management body in its supervisory function. The operational implementation may be carried out by the issuers of ARTs ’ management body.

Members of the management body in its management function should constructively challenge and critically review propositions, explanations and information received by the staff when exercising its judgement and taking decisions.

Where applicable, the management body in its management function, should regularly, timely and comprehensively inform and report to the management body in its supervisory function all relevant information necessary to perform their duties, including the risks and other developments affecting the business of the issuer of ARTs, e.g. material decisions on business activities, its organisation and underlying technologies, risks taken and compliance with the risk appetite and strategy, ML-TF risks, ICT incidents and reporting, material operational risk losses, liquidity and reserve of assets and their management.