The aim of these forms is to collect standardised key information in relation to (i) money laundering and terrorist financing ("ML/TF") risks to which the professionals are exposed and (ii) the measures they put in place to mitigate these risks.
In accordance with the CSSF press release, the AML/CTF entry form must be completed and submitted to the CSSF by:
- 1. UCITS, Part II UCIs, SIFs, SICARs,
ELTIFs, EUSEFs, EUVECAs or MMFs2 in the following cases:
- - when submitting an application for the set-up of a new fund;
- - when requesting approval for an additional sub-fund. In practice, the CSSF seems to take a stricter approach by asking, in certain circumstances, for the form to be completed also for all new and existing sub-funds.
- 2. IFMs in the following cases:
- - when submitting an application for the set-up of an authorised or registered investment fund manager;
- - when requesting approval for an additional licence (e.g. for new investment strategies), a licence extension (e.g. for MiFID activities) or a change in the shareholder structure, if there has been any change to the information previously submitted.
AML/CTF forms must be accompanied by specific documents, the list of which depends on the ML/TF residual risk of the fund/IFM.
1. "AML/CTF" refers to Anti-Money Laundering/Counter Terrorist Financing.
2. "MMFs" refers to Money Market Funds.
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.