January 7, 2022
The European Commission adopted the Delegated Regulation amending the list of high-risk third countries with strategic AML/CTF deficiencies set out in Delegated Regulation (EU) 2016/1675.
The new Delegation Regulation brought the below changes:
The 23 jurisdictions identified by the EU as having strategic AML/CFT deficiencies are Afghanistan, Barbados, Burkina Faso, Cambodia, Cayman Islands, Haiti, Jamaica, Jordan, Mali, Morocco, Myanmar, Nicaragua, Pakistan, Panama, the Philippines, Senegal, South Sudan, Syria, Trinidad and Tobago, Uganda, Vanuatu, Yemen and Zimbabwe.
On February 21, 2022, the Delegated Regulation (EU) 2022/229 of January 7, 2022, amending the list of high-risk third countries with strategic AML/CTF deficiencies set out in Delegated Regulation (EU) 2016/1675 was published in the Official Journal of the EU.
The Delegated Regulation (EU) 2022/229 of January 7, 2022, amending the list of high-risk third countries with strategic AML/CTF deficiencies set out in Delegated Regulation (EU) 2016/1675 will enter into force on March 13, 2022 (i.e., on the twentieth day following the publication in the Official Journal).
To be noted:
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January 27, 2022
The CSSF published a Circular letter related to the annual survey on the fight against money laundering and terrorist financing (“MF/TF”). The survey will be launched on February 15, 2022. The purpose of the annual survey is to collect standardized key information concerning ML/TF risks and the implementation of the measure to mitigate them. For the year 2021, the survey covered, among others, the following items:
Compared to the previous questionnaire, the CSSF added new questions such as:
The 2021 ML/FT Survey must be submitted through the CSSF eDesk module between February 15 and April 15, 2021, by either the compliance officer in charge of the control of compliance with the professional obligations (“RC”) or the person responsible for compliance with the professional obligations (“RR”).
Read the full article here.
January 31, 2022
The CSSF published the Circular CSSF 22/795 on ESMA Guidelines on marketing communications under the Regulation on facilitating the cross-border distribution of collective investment undertakings. The purpose of the Circular is the application in the Luxembourg framework of the ESMA Guidelines on marketing communications.
The guidelines apply to UCITS and/or AIFs Investment Fund Managers, European venture capital funds (“EUVECAs”) managers and European social entrepreneurship funds (“EUSEFs”) managers.
Examples of documents that may be considered marketing communications:
Examples of documents that should not be considered as marketing communications:
Furthermore, marketing communications should include a disclaimer such as “This is a marketing communication. Please refer to the (prospectus of the [UCITS/AIF/EuSEF/EuVECA]/Information document of the [AIF/EuSEF/EuVECA] and to the [KIID/KID][delete as applicable]) before making any final investment decisions.”
This Circular applies as of February 2, 2022.
Read the full article here.
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