Summary of CySEC's Circular C463
Memo #38-2021
CySEC Circular No: C463
Date: 05/08/2021
Subject: Consultation of the European Banking Authority on new draft Guidelines on the role of anti-money laundering and countering the financing of terrorism (AML/CFT) compliance officers
Purpose: To inform Regulated Entities that EBA launched a public consultation on new draft Guidelines on the role of AML/CFT compliance officers.
In Summary:
CySEC has issued the Circular C463 on 05/08/2021 to inform the CIFs, ASPs, UCITS Management Companies, Internally managed UCITS, AIFMs, Internally managed AIFs, Internally managed AIFLNPs and Companies with sole purpose the management of AIFLNPs, that the European Banking Authority (EBA) on 2 August 2021, launched a public consultation on new Draft Guidelines on the role, tasks and responsibilities of anti-money laundering and countering the financing of terrorism (AML/CFT) compliance officers (the ‘Guidelines’).
The Guidelines comprehensively address, for the first time at the level of the EU, the whole AML/CFT governance set-up. They set clear expectations of the role, tasks and responsibilities of the AML/CFT compliance officer and the management body and how they interact, including at group level.
The Guidelines also specify the tasks and role of the member of the management board, or the senior manager where no management board exists, who are in charge of AML/CFT overall, and on the role of group AML/CFT compliance officers.
The CySEC encourages the Regulated Entities to send their comments to the Guidelines through the EBA's consultation page, by the 2 November 2021 the latest.
The EBA's consultation page can be found on the following link:https://www.eba.europa.eu/eba-consults-new-guidelines-role-amlcft-compliance-officers
The new Draft Guidelines can be found on the following link: https://www.eba.europa.eu/sites/default/documents/files/document_library/Publications/Consultations/2021/Consultation%20on%20draft%20Guidelines%20on%20the%20role%2C%20tasks%20and%20responsibilities%20AML-CFT%20compliance%20officers/1018277/CP%20GLs%20on%20AMLCFT%20compliance%20officer.pdf
Read the CySEC Circular C463
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