The Cyprus Securities and Exchange Commission (CySEC) has issued
a circular to Cyprus Investment Firms and providers of fiduciary
services supervised by CySEC setting out their reporting
obligations under anti-money laundering legislation.
The supervised entities are required to submit Form 144-08-11
"Monthly Prevention Statement for the Prevention of Money
Laundering and Terrorist Financing" to CySEC no later than
fifteen days after the end of each month.
Form 144-08-11 is available for download on the CySEC website. It
includes information on amounts over €10,000 received from
clients in cash and on reports submitted regarding money laundering
and terrorist financing. A "nil return" must be submitted
even where no client funds are held, no cash receipts above
€10,000 occur and no reports on money laundering or terrorist
financing are submitted.
You can view a copy of the circular setting out the detailed
requirements by following this link.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.