ESMA final report — MiCA investor-protection guidelines

ESMA final report — MiCA investor-protection guidelines 17 December 2024 ESMA35-1872330276-1936 Final Report Guidelines specifying certain requirements of the Markets in Crypto Assets Regulation (MiCA) on investor protection – third package ESMA - 201-203 rue de Bercy - CS 80910 - 75589 Paris Cedex 12 - France - Tel. +33 (0) 1 58 36 43 21 - www.esma.europa.eu 2 Table of Contents 1 Executive Summary .....................................................................................................

5 2 Aspects of the suitability requirements applicable to the provision of advice and portfolio management in crypto-assets and the format of the periodic statement referred to in Article 81(14) of MiCA....................................................................................................................

6 2.1 Background and legal basis ..................................................................................

6 2.2 Feedback to the consultation ................................................................................

9 2.2.1 Suitability assessment ............................................................................................

9 2.2.1 Periodic statement for portfolio management services ..........................................

13 3 Guidelines on the procedures and policies, including the rights of clients, in the context of transfer services for crypto-assets ................................................................................

16 3.1 Background and legal basis ................................................................................

16 3.2 Feedback to the consultation ..............................................................................

19 4 Annexes ....................................................................................................................

25 4.1 Annex I:

Cost-benefit analysis.............................................................................

25 4.2 Annex II:

SMSG advice to ESMA on its third consultation paper on the Markets in Crypto Assets Regulation (MiCA) ..................................................................................

38 4.3 Annex III:

Guidelines on certain aspects of the suitability requirements and format of the periodic statement for portfolio management activities under MiCA ....................

45 4.4 Annex IV:

Guidelines on the procedures and policies, including the rights of clients, in the context of transfer services for crypto-assets.......................................................

75 3 Acronyms and definitions used CP Consultation Paper ESMA European Securities and Markets ESMA · guidelines_final_report · final_report_guideline

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