Art. 7 Policies and procedures on resources for the management of conflicts of interest | RTS on issuer conflicts of interest | MiCA

Article 7 deals with the resourcing and human capital requirements that must be embedded within the conflicts of interest policies and procedures established under this regulation.

Building on the framework set out in earlier articles, it focuses on ensuring that the management of conflicts of interest is not merely a paper exercise but is backed by adequate resources, a named responsible person, and a workforce with defined competencies.

Important points:

Appoint a dedicated person responsible for the identification, prevention, management and disclosure of conflicts of interest, who reports directly to the management body and whose independence must not be compromised by any other tasks they hold.
Ensure that sufficient resources are allocated and managed effectively to support conflicts of interest management.
Define the minimum skills and knowledge required for employees to identify, prevent, manage and disclose conflicts of interest under this regulation.

1. The policies and procedures referred to in Article 32(1) of Regulation (EU) 2023/1114 shall ensure that resources necessary to manage conflicts of interest are allocated and managed effectively.
1. The policies and procedures referred to in Article 32(1) of Regulation (EU) 2023/1114 shall ensure that the issuer of asset-referenced tokens appoints a person responsible for the identification, prevention, management and disclosure of conflicts of interest. That person shall have the authority necessary to discharge its responsibilities appropriately and independently and shall report directly to the management body. Those policies and procedures shall ensure that any other task or function that that person may also be responsible for, does not compromise that person’s ability to perform, independently the identification, prevention, management and disclosure of conflicts of interest.
1. The policies and procedures referred to in Article 32(1) of Regulation (EU) 2023/1114 shall define the minimum skills and knowledge necessary for employees to identify, prevent, manage and disclose conflicts of interest under this Regulation.