Compliance Risk Management Services
Eltoma Corporate Services can assist with: Compliance Function Establishment & Implementation, including Compliance Function Outsourcing.
- Establish the legislation requirements for your company.
- Client risk categorisation, customer due diligence and client documentation requirements, linked to Company’s Client Acceptance Policy.
- Documentation filing & retrieval.
- Compliance procedure drafting and review/updated procedures, following regulatory legislation amendments.
- AML Manual drafting.
- New Client Checklists design, to support the compliance process, custom designed for the business industry.
- Annual Review Client Checklists design, to support the compliance process, custom designed for the business industry.
- Standard Induction AML Training.
- Establish the reporting and record keeping requirements, including FIU (Financial Intelligence Unit) reporting.
- General AML enquiries helpdesk, including live chat option.
KYC Documentation Compliance Services
- Documentation receipt & review.
- Documentation validity compliance checks, name & international passport check, including MRZ verification.
- Review completed with international sanctions list/designated persons/PEPs.
CIF CySEC License
- The Investment Firms Act of 2002 (the "Act") provides the legal framework for the provision of investment services as well as for the registration, regulation of operations and supervision of CIFs. The Act governs the provision of investment and non-core services in Cyprus, as well as the provision of investment and non-core services from within Cyprus. CIFs must be licensed by the Cyprus Securities & Exchange Commission (CySEC), which is the relevant regulatory and supervisory authority.
- Assist with identifying & satisfying conditions of license.
- Application for CIF – completion of necessary documentation/application.
- Regulatory inspections & post investigation remediation.
- Full documentation retrieval to support CIF License application.
- Collaboration with KPMG throughout the full process.
Furthermore, our Compliance Department can provide:
- Guidance on the proper application and interpretation of regulatory standards.
- Implementation and support of effective policies, procedures and practices for regulated types of activities regarding AML/CFT policies.
- Training the staff on key compliance issues.
- Provide analysis and control of compliance with regulatory norms, detection of offenses / inconsistencies with the regulatory framework (Due Diligence, internal investigations, consideration of client complaints).
- Regular reports to management on compliance issues.
- Identification, assessment and management of compliance risks.
For more information on all Cyprus compliance matters, contact us, we'd be happy to answer any queries you have.
CJEU: Defines Key Definitions for Tax & Beneficial Ownership Purposes
Last month, the Court of Justice of the European Union (CJEU) issued a series of important judgments dealing with tax avoidance and beneficial ownership in the context of the EU Parent-Subsidiary Directive (PSD) and the Interest and Royalties Directive (IRD).