ACPR Compliance with EBA and ESMA Guidelines on Fitness Assessment for Management Bodies and Qualified Shareholders of ART Issuers and CASPs

ADVICE
Compliance of the ACPR with the joint guidelines of the European Banking Authority and the European Securities and Markets Authority on the assessment of the fitness of the management body members of issuers of tokens referencing one or more assets (“ART issuers”) and of crypto-asset service providers (“CASPs”) and on the joint guidelines on the assessment of the fitness of shareholders or members, direct or indirect, holding qualifying holdings in ART issuers or CASPs (EBA/GL/2024/09)

The Prudential Control and Resolution Authority (ACPR) has declared itself compliant with the joint guidelines of the European Banking Authority (EBA) and the European Securities and Markets Authority (ESMA) of 27 June 2024 on the assessment of the fitness of the management body members of ART issuers and CASPs and on the joint guidelines on the assessment of the fitness of shareholders or members, direct or indirect, holding qualifying holdings in ART issuers or CASPs (EBA/GL/2024/09).

The ACPR intends to apply all the provisions provided for by these guidelines for the entities concerned over which it exercises supervision. Regarding the time limits for the assessment of the fitness of the management body members by the competent authority, the ACPR considers that the maximum time limit set by the guidelines constitutes a best practice that the ACPR strives to respect, it being specified that the only binding time limit is that provided for by applicable national law (namely a decision within two months following the receipt of a complete file).

The ACPR expects that the concerned entities under its jurisdiction take all measures to comply with all the provisions of the aforementioned guidelines, according to modalities specified by the ACPR’s instructions.

These “EBA/GL/2024/09” guidelines entered into application on 4 February 2025.