Can a CSP hold a participation in a SPV?

When should an entity be considered as an SPV within the meaning of point (q) of Article 2(1)
of the ECSPR ?

When conducting the negative target market assessment for a product that does not consider sustainability factors, should a firm also consider any clients’ sustainability-related objectives the product is not compatible with?

How should the following provision in Art. 3(1)(b) of DLTR (on the admissibility of bonds and other forms of securitised debt) be understood: “[…] excluding those that embed a derivative or incorporate a structure which makes it difficult for the client to understand the risk involved […]”?

For a DLT SS/TSS operator benefitting from the exemption in Art. 5(8) of DLTR, is it possible for them to settle payments using e-money tokens (EMTs) issued by the DLT SS/TSS operator itself or by an e-money institution (as opposed to only settling payments with EMTs issued by a credit institution)?