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In this act Article 5 of 9

Article 5 — Reporting of suspicious orders or transactions

Financial servicesLevel 2RTSMiCAIn forceOfficial source

5(1)

1.Persons professionally arranging or executing transactions in crypto-assets shall establish and maintain effective arrangements, systems and procedures that enable them to assess, for the purpose of submitting a STOR, whether with reference to an order, a transaction or other aspects of the DLT there might be circumstances indicating that market abuse has been committed, is being committed or is likely to be committed. Those arrangements, systems and procedures shall include an appropriate level of human analysis.

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5(2)

2.Persons professionally arranging or executing transactions in crypto-assets shall report a STOR:

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5(2)(a)
a)by using the STOR template set out in the Annex and completing the information fields relevant to the reported orders, transactions or other aspects of functioning of the DLT in a clear and accurate manner, including any supporting documents or attachments;
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5(2)(b)
b)using the electronic means specified by that competent authority.\
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For the purposes of point (b) of the first subparagraph, the competent authority shall specify on its website the electronic means to be used, and shall ensure that those electronic means ensure that the completeness, integrity, and confidentiality of the information are maintained during the transmission.

The STOR referred to in the first subparagraph shall be based on facts and analysis, considering all the information available to the persons professionally arranging or executing transactions in crypto-assets.

5(3)

3.Persons professionally arranging or executing transactions in crypto-assets shall ensure and maintain the confidentiality of the information laid down in the report on suspicious orders or transactions and ensure that the person in respect of which the STOR was submitted and anyone who is not required to know about the submission of a STOR by virtue of their function or position within the reporting person is not informed of:

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5(3)(a)
a)the generation of the alerts referred to in Article 3(1), point (b);
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5(3)(b)
b)the assessment that may lead to the submission of a STOR;
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5(3)(c)
c)the fact that the reporting person will complete the STOR without sending requests of information to the person in respect of which the STOR may be submitted to complete certain fields;
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5(3)(d)
d)the submission of a STOR to the competent authority, or the intention to submit one.\
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