The Regulatory Authorities of the Republic of Cyprus, i.e. Cyprus Securities and Exchange Commission (the “CYSEC”), the Cyprus Bar Association (the “CBA”) and the Institute of Certified Public Accountants of Cyprus (the “ICPAC”) have informed regulated entities of the upcoming evaluation of Cyprus by the Committee of Experts on the Evaluation of AntiMoney Laundering Measures and the Financing of Terrorism (MONEYVAL).
More specifically, MONEYVAL is expected to perform its onsite review and appraisal of Cyprus relating to the prevention of money laundering and terrorist financing in the forthcoming May. The respective assessment team will have individual meetings with the relevant regulatory authorities. MONEYVAL’s assessment team will be expected to hold individual meetings with a sample of obliged entities, such as Cyprus Investment Firms, Administrative Services Providers, law firms, accounting firms, Internally Managed Investment Funds and External Investment Fund Managers.
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