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ARTICLE · 05 JANUARY 2015

CySEC Circular On Anti-Money Laundering Compliance Reports

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Cyprus investment firms, UCITS management companies, alternative investment fund managers and providers of corporate and fiduciary management services regulated by the Cyprus Securities and Exchange Commission ("CySEC") are required to submit to CySEC an annual report by their appointed anti-money laundering compliance officer.

CyprusGovernment, Public Sector
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Cyprus investment firms, UCITS management companies, alternative investment fund managers and providers of corporate and fiduciary management services regulated by the Cyprus Securities and Exchange Commission ("CySEC") are required to submit to CySEC an annual report by their appointed anti-money laundering compliance officer.

The purpose of the report is to inform the board of directors of the entity concerned of the effectiveness of its policy, practices, measures, procedures and controls for the prevention of money laundering and terrorist financing, to identify any weaknesses and to set out proposed corrective measures, together with a timetable for implementation. CySEC regards this report as a significant tool for assessing regulated entities' compliance with their obligations regarding the prevention of money laundering.

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