1.   The policies and procedures referred to in Article 32(1) of Regulation (EU) 2023/1114 shall ensure that resources necessary to manage conflicts of interest are allocated and managed effectively.

2.   The policies and procedures referred to in Article 32(1) of Regulation (EU) 2023/1114 shall ensure that the issuer of asset-referenced tokens appoints a person responsible for the identification, prevention, management and disclosure of conflicts of interest. That person shall have the authority necessary to discharge its responsibilities appropriately and independently and shall report directly to the management body. Those policies and procedures shall ensure that any other task or function that that person may also be responsible for, does not compromise that person’s ability to perform, independently the identification, prevention, management and disclosure of conflicts of interest.

3.   The policies and procedures referred to in Article 32(1) of Regulation (EU) 2023/1114 shall define the minimum skills and knowledge necessary for employees to identify, prevent, manage and disclose conflicts of interest under this Regulation.