Read the CySEC Circular C687
Memo #13-2025
CySEC Circular No: C687
Date: 12/03/2025
Subject: European Banking Authority’s Public Consultation Paper on Proposed Regulatory Technical Standards in the context of the EBA’s response to the European Commission’s Call for advice on new AMLA mandates
Purpose: To inform the Regulated Entities that EBA has launched a public consultation on four draft RTS that will be part of the EBA’s response to EU Commission’s Call for advice on new AMLA mandates.
In Summary:
CySEC has issued the Circular C687 on 10/03/2025 to inform the Crypto Asset Service Providers (‘CASPs’), Cyprus Investment Firms (‘CIFs’), Administrative Service Providers (‘ASPs’), UCITS Management Companies (‘UCITS MC’), Self-Managed UCITS (‘SM UCITS’), Alternative Investment Fund Managers (‘AIFMs’), Self-Managed Alternative Investment Funds (‘SM AIFs’), Self-Managed Alternative Investment Funds with Limited Number of Persons (‘SM AIFLNP’), Companies with sole purpose the management of AIFLNPs and the Small Alternative Investment Fund Managers (‘Small AIFMs’), that the European Banking Authority (the ‘EBA’) has launched a public consultation on four draft Regulatory Technical Standards (the ‘RTS’) that will be part of the EBA’s response to the European Commission’s Call for Advice on new EU Authority for Anti-Money Laundering and Countering the Financing of Terrorism (AMLA) mandates.
These RTS will be central to the EU’s new AML/CFT regime and will shape how institutions and supervisors will comply with their AML/CFT obligations under the new AML/CFT package.
In summary, the proposed RTSs focus on the following aspects for which the EBA is providing its advice:
• the way the new EU Authority for Anti-Money Laundering and Countering the Financing of Terrorism (AMLA) will decide which institutions will be subject to the direct supervision.
• the determination of the ML/TF risk associated with each institution.
• the extent and quality of information institutions will have to obtain as part of the customer due diligence process under the new AML/CFT regime.
• on indicators and criteria to be taken into account when setting the level of pecuniary sanctions or taking administrative measures including developing a methodology on how to impose periodic penalty payments.
It is noted that the EBA will submit its response with the RTS to the European Commission on 31/10/2025.
It is further noted that comments to the consultation paper can be sent by clicking on the ‘Submit response’ button on the EBA's consultation page. The deadline for the submission of comments is 06/06/2025.
CySEC notes that it encourages the Regulated Entities to respond to the said consultation paper.
The EBA public consultation can be found on the following link:
The European Commission’s Call for Advice can be found on the following link:
https://www.eba.europa.eu/sites/default/files/2024-03/2d15a537-adaa-49ce-8b2a-54467772dfb6/CfA%20RTSs_GL%20EBA_fin_rev.pdf
The EBA's consultation page can be found on the following link:
Read the CySEC Circular C687
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