Nicosia, Cyprus. The Cyprus Securities and Exchange Commission (CySEC) issued a circular informing regulated entities about new public consultations launched by the Anti-Money Laundering Authority (AMLA) on draft Regulatory Technical Standards under new European Union legislation.
Circular addressed to regulated entities
The circular was addressed to Cyprus Investment Firms, Administrative Service Providers, UCITS management companies, internally managed UCITS, alternative investment fund managers, internally managed AIFs and AIFLNPs, companies with the sole purpose of managing AIFLNPs, crypto asset service providers, small AIFMs, and crowdfunding service providers.
Consultations under EU Regulation 2024/1624 and Directive 2024/1640
CySEC said AMLA has launched public consultations on draft Regulatory Technical Standards under Article 19(9) and Article 28(1) of Regulation (EU) 2024/1624, known as the Anti-Money Laundering Regulation, and under Article 53(10) of Directive (EU) 2024/1640, referred to as AMLD 6.
Business relationships and transaction thresholds
The draft standards under Article 19(9) relate to criteria for business relationships, occasional transactions and linked transactions, as well as lower thresholds.
Customer due diligence requirements
The draft standards under Article 28(1) focus on customer due diligence requirements, setting out more detailed rules on how firms should identify and verify clients.
Sanctions and enforcement framework
The draft standards under Article 53(10) concern pecuniary sanctions, administrative measures and periodic penalty payments, forming part of the enforcement framework under AMLD 6.
Deadlines and availability
For the consultations on business relationships and customer due diligence, the deadline for submitting comments is May 8, 2026. For the consultation on sanctions and enforcement measures, the deadline for comments is March 9, 2026. The draft Regulatory Technical Standards and the links for submitting responses are available on AMLA’s official website.
Will your firm submit comments to AMLA’s consultations by the stated deadlines?