12. For the sake of proportionality, to determine the level of detail of the content and the …

For the sake of proportionality, to determine the level of detail of the content and the frequency of the periodical review of the redemption plan the issuers and the competent authority should take into account the following criteria:

• i. classification of the ARTs or EMTs as significant in accordance with Articles 43 and 44, and 56 and 57 of Regulation (EU) 2023/1114;
• ii. for issuers of an ART and for issuers of an EMT which are subject to the requirement to hold a reserve of assets under Regulation (EU) 2023/1114, the size, volatility, composition, concentration and nature of the reserve assets and of the ART or EMT itself;
• iii. multiple outstanding issuances of ARTs or EMTs by the same issuer;
• iv. issuance of the same ART or EMT by multiple issuers;
• v. the complexity and risk profile of the issuer’s business model , taking into account any other financial or non-financial activity.

1. Overview

1.1 References

1.2 Identified Requirements

1.3 Related Standards

2. Identified Requirements

3. Related Standards

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