Updated 18/09/2024
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Article 5 - Procedures

Article 5

Procedures

1.   The procedures referred to in Article 2(2), points (a) and (b), shall be adapted to the business model of the crowdfunding service provider and shallinclude:

(a)

a compilation of a list of contact details of the persons or department in charge in case of failure of the crowdfunding service provider;

(b)

the identification of the three most likely scenarios of failure and the description of measures to be taken to mitigate their impact on the continuity of critical services;

(c)

provisions regarding access by staff of the crowdfunding service provider to the workspace and company network;

(d)

provisions regarding access to client information and, where relevant, client assets;

(e)

an identification of operational and financial risks as well as measures to reduce their occurrence;

(f)

an identification of critical business systems and contingency measures to ensure their continuity;

(g)

an identification of critical business relationships, including outsourced functions;

(h)

procedures to ensure the continuity of communication between the crowdfunding service provider, its clients, business partners, employees and competent authorities.