Summary of CySEC's Circular C427

Memo #05-2021
CySEC Circular No: C427

Date: 12/02/2021
Subject: Submission of the Internal Auditor’s Annual Report, the AMLCO’s Annual Report and the Form of the Monthly Prevention Statement - Extension of Deadlines provided in the AML/CFT Directive
Purpose: To inform all interested parties that the submission deadlines of the Internal Auditor’s Annual Report, AMLCO’s Annual Report, and Monthly Prevention Statement are extended.

In Summary:

CySEC has issued the Circular C427 on 12/02/2021 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 due to the developments related to the Coronavirus disease 2019 (COVID-19) the deadlines for the submission to CySEC of the 1) Internal Auditor’s Annual Report, 2) AMLCO’s Annual Report and the 3) Form of the Monthly Prevention Statement provided in the AML/CFT Directive are extended.

According to Circular C427, the new deadlines are:

1. The Internal Auditor’s Annual Report and the relevant Board of Directors minutes (paragraph 6 of AML/CFT Directive) should be submitted to CySEC by the end of June 2021 at the latest.
2. The AMLCO’s Annual Report and the relevant Board of Directors minutes (paragraph 10(3) of AML/CFT Directive) should be submitted to CySEC by the end of May 2021 at the latest.
3. The Form of the Monthly Prevention Statement (paragraph 11 of AML/CFT Directive) of January, February and March 2021 should be submitted within 15 days from the end of April 2021.

Read the CySEC Circular C427

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