40. The issuer should make sure that the redemption plan contains a clear and detailed description …

The issuer should make sure that the redemption plan contains a clear and detailed description of the governance arrangements and processes covering its development, review and update as well as its execution. In particular, the redemption plan should:

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• i. indicate the member(s) of the management body or any person(s) within the organisational structure of the issuer responsible for the development, update and implementation of the redemption plan;
• ii. describe how the redemption plan is integrated into the internal control framework as referred to in the EBA Guidelines on the minimum content of the governance arrangements for issuers of ARTs⁹ or other relevant regulation applicable to issuers of EMTs;
• iii. describe the processes for the update or review of the plan in the case of material changes affecting the business or financial profile of the issuer or of the token(s) issued;
• iv. identify the critical activities to be kept operational for the implementation of the plan, and identify the person(s) responsible, either on the issuer side or within the third-party provider, in accordance with paragraphs 42-51;
• v. lay down the process for the adoption of the action of each phase to ensure the timely execution of the redemption plan upon the competent authority’s decision in accordance with Article 47(1) of Regulation (EU) 2023/1114; and
• vi. identify the contact person(s) who are in charge of communication with the token holders, with the competent authority(ies) and with the counterparties and/or with the public, and include those persons’ up-to-date contact details within the organisation of the issuer.

1. Overview

1.1 References

• Article 47 1.

1.2 Identified Requirements

1.3 Related Standards

2. Identified Requirements

3. Related Standards

• EBA - Published by the European Banking Authority at https://www.eba.europa.eu/