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🔗 Back to Summary. 🇫🇷 French Version: 2025R0418_FR.2. Back to Summary of LVL1. Direct link to EUR-LEX.
Article 1 – Scope of application ⬅️ | ➡️ Article 3 – Governance arrangements for remuneration policies
Article 2 - Definitions
For the purposes of this Regulation, the following definitions shall apply:
(1)
‘Staff’ means all employees of an issuer of asset-referenced tokens or e-money tokens, and all members of such issuer’s management bodies;
(2)
‘Senior management’ means those natural persons who exercise executive functions within an issuer of asset-referenced tokens or e-money tokens and who are responsible and accountable to the management body, but are not members of that body, for the day-to-day management of the issuer under the direction of its management body;
(3)
‘Identified staff’ means staff that has a material impact on the risk profile of the issuer of asset-referenced tokens or e-money tokens, or on the risk profile of significant asset-referenced or electronic-money tokens they issue;
(4)
‘Managerial responsibility’ means a situation, in which a staff member either:
(a)
leads a business unit, material business unit or a control function and is directly accountable to the management body as a whole or to a member of the management body or to the senior management; or
(b)
carries out a function or a task laid down in Article 5(2), point (c);
(5)
‘Risk appetite’ means the aggregate level and types of risk that an issuer of asset-referenced tokens or e-money token is willing to assume within its risk capacity, in line with its business model, to achieve its strategic objectives;
(6)
‘Business unit’ means a business unit as defined in 2013;
(7)
‘Material business unit’ means a business unit as defined in 2013 that is assessed by the issuer of asset-referenced tokens or e-money tokens as having a material impact on the issuer’s business model or as representing a material source of revenue, profit or franchise value for an issuer;
(8)
‘Control function’ means a function that is independent from the business units it controls and that is responsible for internal control procedures and includes the risk management, compliance and the internal audit functions;
(9)
‘Remuneration’ means all forms of fixed and variable remuneration, including the following:
(a)
monetary or non-monetary payments and benefits, awarded directly to staff by or on behalf of issuers of asset-referenced tokens or e-money tokens in exchange for professional services provided by staff;
(b)
carried interest payments within the meaning of EU;
(c)
other payments made via methods and vehicles which, if they were not considered as remuneration, would lead to a circumvention of the remuneration requirements set out in Regulation (EU) 2023/1114 and in this Regulation.