Recital 137 Management bodies' responsibility

This Directive should aim to ensure a high level of responsibility for the cybersecurity means cybersecurity as defined in Article 2, point (1), of Regulation (EU) 2019/881; risk-management measures and reporting obligations at the level of the essential and important entities means a natural or legal person created and recognised as such under the national law of its place of establishment, which may, acting under its own name, exercise rights and be subject to obligations;. Therefore, the management bodies means a management body as defined in Article 4(1), point (36), of Directive 2014/65/EU, Article 3(1), point (7), of Directive 2013/36/EU, Article 2(1), point (s), of Directive 2009/65/EC of the European Parliament and of the Council (^31^), Article 2(1), point (45), of Regulation (EU) No 909/2014, Article 3(1), point (20), of Regulation (EU) 2016/1011, and in the relevant provision of the Regulation on markets in crypto-assets, or the equivalent persons who effectively run the entity or have key functions in accordance with relevant Union or national law; Directive 2009/65/EC of the European Parliament and of the Council of 13 July 2009 on the coordination of laws, regulations and administrative provisions relating to undertakings for collective investment in transferable securities (UCITS) (OJ L 302, 17.11.2009, p. 32). of the essential and important entities means a natural or legal person created and recognised as such under the national law of its place of establishment, which may, acting under its own name, exercise rights and be subject to obligations; should approve the cybersecurity means cybersecurity as defined in Article 2, point (1), of Regulation (EU) 2019/881; risk-management measures and oversee their implementation.