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Article 8 - Additional requirements in relation to placing

Article 8
Additional requirements in relation to placing

1. For the purposes of identifying the types of conflict of interest that arise where the crypto-asset service provider provides placing services, crypto-asset service providers shall take into account, without prejudice to Article 79(2) of Regulation (EU) 2023/1114, the following situations:

((a))

the crypto-asset service provider is also offering pricing services in relation to the offer of crypto-assets;

((b))

the crypto-asset service provider is also providing execution of orders for crypto-assets on behalf of clients and research services;

((c))

the crypto-asset service provider is placing crypto-assets of which itself or an entity from its group is the issuer.

2. Crypto-asset service providers shall establish, implement and maintain internal arrangements to ensure all of the following:

((a))

that the pricing of the offer does not promote the interests of other clients of the crypto-asset service provider or the crypto-asset service provider’s own interests, in a way that may conflict with the issuer client’s interests;

((b))

that the pricing of the offer does not promote the interests of the issuer client’s, the crypto-asset service provider’s own interests or the interests of a connected person, in a way that may conflict with other clients’ interests;

((c))

the prevention of a situation where persons responsible for providing services to the crypto-asset service provider’s investment clients, or deciding which products should be included in the list of products offered or recommended by the crypto-asset service provider, are directly involved in decisions about pricing to the issuer client;

((d))

the prevention of a situation where persons responsible for providing services to the crypto-asset service provider’s investment clients are directly involved in decisions about recommendations to the issuer client on allocation;

((e))

the prevention of the exercise of staking rights without prior consent of the investment client.

3. Crypto-asset service providers shall have in place a centralised procedure to identify all their placing operations, including the date on which the crypto-asset service provider was informed of potential placing operations.

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