Introduction
The Cyprus Securities and Exchange Commission (CySEC) issued Circular C796 on 14 August 2026, addressing Regulated Entities. It informs about the Anti-Money Laundering Authority’s (AMLA) Final Report on Draft Implementing Technical Standards under Article 15(3) of Regulation (EU) 2024/1620. This is a reminder of AMLA’s future direct supervision commencing in 2028.
CySEC Circular C796 – At a Glance
- Issued date: 14 August 2026
- Applies to: Regulated Entities including CIFs, ASPs, UCITS Management Companies, and others
- Key requirement: Understand AMLA’s future supervisory role starting in 2028
What Does This Circular Require?
What firms must do. Consult AMLA’s FAQ and reporting package on the identification of provisionally eligible obliged entities.
Legal basis. Article 15(3) of Regulation (EU) 2024/1620
Regulatory objective. Harmonize AML/CFT supervision and prepare for direct supervision at group level.
Who Is in Scope?
This circular reiterates the upcoming changes in AML/CFT supervision for financial institutions.
- CIFs
- ASPs
- UCITS Management Companies
- Internally managed UCITS
- AIFMs
- Internally managed AIFs
- Internally managed AIFLNPs
- Companies managing AIFLNPs
- Crypto Asset Service Providers
- Small AIFMs under Law 81(I)/2020
- Crowdfunding Service Providers
This applies broadly across financial service providers in Cyprus.
Key Requirements Breakdown
Reporting / Submission Requirements
Reporting entities should refer to AMLA’s FAQ document.
Practical Implementation: What Firms Should Do
In practice, ensure familiarity with the reporting package and FAQs provided by AMLA. This will help you prepare for the transition to direct supervision in 2028. Regularly checking AMLA’s website for updates can prevent common misunderstandings about compliance obligations.
Key Dates and Deadlines
| Date | What happens |
|---|---|
| 2028 | Start of AMLA’s direct supervision. |
How to Apply This Correctly
- Consult AMLA’s FAQ and reporting package.
- Attend relevant webinars conducted by AMLA.
- Prepare for transition to AMLA’s direct supervision starting in 2028.
Compliance Officer Checklist
- Review AMLA’s Final Report.
- Understand the implications of direct supervision.
- Access AMLA’s FAQ and reporting package.
Evidence to Retain
- AMLA Final Report
- AMLA Reporting Package on Identification
- AMLA FAQ document
Why This Matters
This transition centralizes AML/CFT supervision with AMLA, ensuring more standardized oversight across financial entities. Non-compliance or failure to adapt could lead to sanctions and reputational damage as more stringent supervision approaches.
Frequently Asked Questions
What is AMLA’s role from 2028?
AMLA will directly supervise certain financial institutions at the group level, taking over AML/CFT supervision from national authorities, such as CySEC.
Where can I find more information on the identification of provisionally eligible entities?
AMLA provides a reporting package and a FAQ document addressing identification issues on their website.
Who must adhere to this supervision change?
The supervision change affects various regulated entities, including CIFs, ASPs, UCITS Management Companies, AIFMs, Crypto Asset Service Providers, and more.
What materials does AMLA recommend consulting?
Entities should review the reporting package, related FAQs, and participate in webinars available on AMLA’s website.
Is there a specific deadline before AMLA’s supervision begins?
The supervision change will start in 2028. Entities should prepare by consulting the available materials and understanding the new supervisory framework.
How CX Financia Can Support You
At CX Financia, we offer services in Regulatory Compliance, Risk Management, and AML/CFT to help firms transition smoothly to AMLA’s direct supervision. Contact us to discuss how we can assist you in meeting your compliance obligations.
Read the CySEC Circular C796
Read more at Regulatory Updates
Disclaimer
General information, not regulatory advice.