MiCAR Whitepaper Linter - Synthetic EuroStable ART White Paper
Whitepaper type: ART
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Pass: 14  |  Review: 3  |  Missing: 1  |  Blockers: 4

[PASS  ] [BLOCKER] COMMON.SUMMARY  Plain-language summary
           Cite:  Art. 6 Abs. 7, Art. 19 Abs. 6, Art. 51 Abs. 6 MiCAR
           Section: 'summary'  (85 words)

[PASS  ] [BLOCKER] COMMON.RISK_WARNING  Mandatory risk warning statement
           Cite:  Art. 6 Abs. 5, Art. 19 Abs. 4, Art. 51 Abs. 4 MiCAR
           Section: 'risk_warning'  (73 words)

[PASS  ] [BLOCKER] COMMON.MANAGEMENT_STATEMENT  Statement by the management body on completeness, fairness, and clarity
           Cite:  Art. 6 Abs. 6, Art. 19 Abs. 5, Art. 51 Abs. 5 MiCAR
           Section: 'management_statement'  (60 words)

[PASS  ] [MAJOR  ] COMMON.NOTIFICATION_DATE  Date of notification to the competent authority
           Cite:  Art. 6 Abs. 8, Art. 19 Abs. 7, Art. 51 Abs. 7 MiCAR
           Section: 'notification_date'  (9 words)

[PASS  ] [MAJOR  ] COMMON.LANGUAGE  Language of the white paper (home Member State official language or customary in international finance)
           Cite:  Art. 6 Abs. 9, Art. 19 Abs. 8, Art. 51 Abs. 8 MiCAR
           Section: 'language'  (28 words)

[MISS  ] [BLOCKER] COMMON.IXBRL_TAGGING  Inline XBRL (iXBRL) compliance and ESMA metadata tagging
           Cite:  Art. 2 VO (EU) 2024/2984
           Section: 'ixbrl_tagging'  (0 words)
           -  Draft format: notification requires XHTML with Inline XBRL tagging. This format cannot satisfy that requirement; the content checks still apply.

[PASS  ] [BLOCKER] ANNEX_II.A  Information about the issuer of the ART (legal form, governance, prudential profile)
           Cite:  Anhang II Teil A MiCAR
           Section: 'issuer'  (94 words)

[PASS  ] [BLOCKER] ANNEX_II.B  Information about the asset-referenced token (reference assets, stabilisation mechanism)
           Cite:  Anhang II Teil B MiCAR
           Section: 'art'  (95 words)

[PASS  ] [BLOCKER] ANNEX_II.C  Information about the offer to the public of the ART or its admission to trading
           Cite:  Anhang II Teil C MiCAR
           Section: 'offer_or_admission'  (77 words)

[PASS  ] [BLOCKER] ANNEX_II.D  Rights and obligations of holders (redemption right at par, complaints handling)
           Cite:  Anhang II Teil D i.V.m. Art. 39 MiCAR
           Section: 'rights_and_obligations'  (94 words)

[PASS  ] [BLOCKER] ANNEX_II.E  Information on the underlying technology (DLT, custody architecture, key management)
           Cite:  Anhang II Teil E MiCAR
           Section: 'technology'  (77 words)

[PASS  ] [BLOCKER] ANNEX_II.F  Risk factors specific to ARTs (de-pegging, reserve impairment, redemption suspension)
           Cite:  Anhang II Teil F MiCAR
           Section: 'risks'  (157 words)

[REVIEW] [BLOCKER] ANNEX_II.G.COMPOSITION_DISCLOSURE  Reserve composition disclosure (Annex II Part G)
           Cite:  Anhang II Teil G i.V.m. Art. 36 MiCAR
           Section: 'reserve_of_assets'  (192 words)
           -  Missing review terms: concentration.

[REVIEW] [BLOCKER] ANNEX_II.G.DEPOSIT_FLOOR_REVIEW  Candidate deposit floor for the reserve (30 % under Art. 36(4)(d); 60 % under Art. 45(7)(b) for significant ARTs, or for non-significant ARTs via Arts. 35(4) and 45(3) MiCAR) - lawyer review required
           Cite:  Anhang II Teil G i.V.m. Art. 35 Abs. 4, Art. 36 Abs. 4 Buchst. d, Art. 45 Abs. 3 und Art. 45 Abs. 7 Buchst. b MiCAR
           Section: 'reserve_of_assets'  (192 words)
           -  Draft percentage candidate(s) detected: 30%. The draft characterisation indicates a 30% candidate floor (Art. 36(4)(d) MiCAR). A lawyer must confirm applicability, statement context, and compliance.

[REVIEW] [BLOCKER] ANNEX_II.G.CUSTODY  Custody policy and custodian selection (Art. 36(2) MiCAR)
           Cite:  Anhang II Teil G i.V.m. Art. 36 Abs. 2, Art. 37 MiCAR
           Section: 'reserve_of_assets'  (192 words)
           -  Missing review terms: insolvency.

[PASS  ] [BLOCKER] ANNEX_II.G.VALUATION_AUDIT  Valuation procedure and audit frequency (Art. 36(3) MiCAR)
           Cite:  Anhang II Teil G i.V.m. Art. 36 Abs. 3 MiCAR
           Section: 'reserve_of_assets'  (192 words)

[PASS  ] [MAJOR  ] ANNEX_II.H  Principal adverse environmental and climate-related impact of the consensus mechanism
           Cite:  Art. 19 Abs. 1 UAbs. 1 Buchst. h MiCAR i.V.m. Art. 4 VO (EU) 2025/422; Anhang Tabelle 3 Teil H VO (EU) 2024/2984
           Section: 'environmental_impact'  (104 words)

[PASS  ] [BLOCKER] ANNEX_II.I  Redemption rights and procedure (timing, fees, suspension conditions)
           Cite:  Anhang II Teil D Nr. 9, 15 und 16, Teil G Nr. 3 i.V.m. Art. 39 MiCAR
           Section: 'redemption'  (125 words)

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First-pass screening only. The draft is not package-ready. The white paper notification or submission for approval (Art. 8 Abs. 1, Art. 16 Abs. 2 UAbs. 2, Art. 17 Abs. 1 Buchst. a, Art. 18 Abs. 2 Buchst. k, Art. 51 Abs. 11 MiCAR) should not enter an external review or filing workflow until BLOCKER items are cured and a lawyer has signed off.
This tool is not legal advice.
