Rule · BLOCKER

COMMON.RISK_WARNING

Mandatory risk warning statement

Citation: Art. 6(5), Art. 19(4), Art. 51(4) MiCAR
Canonical form: Art. 6 Abs. 5, Art. 19 Abs. 4, Art. 51 Abs. 4 MiCAR
Runs for: Annex I · other crypto-assets; Annex II · asset-referenced tokens; Annex III · e-money tokens
Severity if open: BLOCKER
Section key: risk_warning
Minimum words: 40
Listed terms (English): risk, value, loss
Listed terms (German): risiko, wert, verlust
Package version: 1.2.1, built from source that may include unreleased changes
Source: rules/common.py

How the status is set

Missing: section risk_warning is absent or empty, or holds only placeholder text such as TBD or TBC.
Review: the section has fewer than 40 words, or a listed term does not appear (case-insensitive substring match).
Pass: none of the above. A pass means the check matched, nothing more.

Legal basis

Art. 6(5), Art. 19(4), Art. 51(4) MiCAR

https://eur-lex.europa.eu/eli/reg/2023/1114/oj/eng

Not re-verified since these pages were introduced (2026-10-20): EUR-Lex was unreachable from the build environment. The citation is the rule's own, unchanged.

Synthetic examples

Each example is linted when this page is generated. The build fails if a result differs.

MissingSection absent

The section key is missing or empty.

{
  "title": "Synthetic rule example",
  "type": "other",
  "sections": {}
}

ReviewThin section

Every listed term appears, but the section is shorter than 40 words.

{
  "title": "Synthetic rule example",
  "type": "other",
  "sections": {
    "risk_warning": "risk value loss"
  }
}

PassSection that matches

This text passes and shows what the check measures: listed terms and length. It is not model disclosure wording and does not meet MiCAR.

{
  "title": "Synthetic rule example",
  "type": "other",
  "sections": {
    "risk_warning": "Synthetic example naming risk, value, loss. This synthetic sentence only adds length and states no fact about any issuer or token. This synthetic sentence only adds length and states no fact about any issuer or token. This synthetic sentence only adds length and states no fact about any issuer or token."
  }
}

Limitations

Reads one section key, risk_warning. Text elsewhere in the draft is not considered.
Matches words and counts length. It does not test accuracy, consistency with other sections or the point-level items of the cited Part.
Status and severity are fixed by the rule. A draft cannot waive or downgrade them.

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