The Cyprus Securities and Exchange Commission issued the Circular E121 in order to remind the following regulated entities of their obligations on AML and Internal Audit Reporting:
- Alternative Investment Fund Managers;
- Self-managed Alternative Investment Funds;
- Self-managed Alternative Investment Funds (with a limited number of investors);
- Alternative Investment Funds the management of which has been outsourced.
According to the Prevention and Suppression of Anti Money Laundering Activities Law of 2007, the regulated entities have to submit the following:
- Compliance Officer’s Annual Report accompanied by the minutes of the Board of Directors’ Meeting, documenting the taken decisions, until the 31st of March of each year according to the provisions of the paragraph 10(3) of Directive. The aforementioned will be submitted to CySEC electronically following the relevant instructions (Circular E119).
- Internal Auditor’s Annual Report accompanied by the minutes of the Board of Directors’ meeting, documenting the taken decisions, until the 30th of April of each year, according to paragraph 6 of the Directive.
- Monthly Prevention Statement within fifteen (15) days from the end of each month, according to paragraph 11 of Directive, completing the CySEC form No. 144-08-11.