Article 5
Business continuity plan
1. For the purposes of Article 62(2), point (i), of Regulation (EU) 2023/1114 applicants shall submit to the competent authority a detailed description of the business continuity plan, including the steps to be taken to ensure continuity and regularity in the provision of the applicant’s crypto-asset services.
2. The description referred to in paragraph 1 shall include the following:
|
(a) |
details proving that the business continuity plan is appropriate and that arrangements are set up to maintain and periodically test that plan; |
|
(b) |
with regard to critical or important functions supported by third-party service providers, information on how business continuity is ensured where the quality of the provision of such functions deteriorates to an unacceptable level or fails; |
|
(c) |
information on how business continuity is ensured in the event of the death of a key person and, where relevant, political risks in the service provider’s jurisdiction. |