Recital 77

(77) It is appropriate to ensure that the relevant staff of creditors and credit intermediaries possess an adequate level of knowledge and competence in order to achieve a high level of professionalism. It should, therefore, be required that creditors and credit intermediaries prove relevant knowledge and competence at the level of the company, based on the minimum knowledge and competence requirements. Member States should be free to introduce or maintain such requirements applicable to individual natural persons, and to adapt the minimum knowledge and competence requirements to the different types of creditors and credit intermediaries, in particular when they act in an ancillary capacity. For the purpose of this Directive, staff directly engaged in activities under this Directive should include both front- and back-office staff, including management and, where appropriate, members of the board of creditors and credit intermediaries, who fulfil an important role in the credit agreement process. Persons fulfilling support functions which are unrelated to the credit agreement process, including human resources and information and communications technology personnel, should not be considered as staff under this Directive. Member States should put in place measures to support raising awareness of the requirements of this Directive in small and medium-sized enterprises that are creditors or credit intermediaries and facilitating their compliance, such as information campaigns, user guides and employee training schemes.

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Source: EUR-Lex CELLAR · retrieved 2026-07-30 · Text as adopted (Official Journal); later amendments are not incorporated in this text.