Compliance, AML & Regulatory Services

The Compliance and AML Functions are two of the most important functions of the CIF. It is extremely important to have true professionals with real knowledge leading the function(s) on which the CIF’s license depends and, provide them with the necessary resources and support in performing their duties. Their duties is not just of drafting policies, but to be able to breakdown the business and CIFs needs; analyse consistently and examine ways of helping the business solving problems, overcoming obstacles and at the same time remaining compliant. The Compliance and AML Functions are usually combined into one function and the appointment of the Head of the Compliance and/or AML Functions are done by the Board of Directors of the CIF but subject to CySEC’s interview and approval of the candidate prior to its official appointment.

Our professional team can provide the support this function requires in adequately performing its duties. We can offer any of the following:

• Recruitment and Interview and knowledge testing
• Training
• CySEC interview preparation
• On-going support
• Provision of materials (eg. policies, manuals)

The Compliance Function should be able to maintain a healthy balance between the business needs and the applicable regulatory rules. Unfortunately, we see often that in-house compliance functions are based at one of the extremes, either too conservatory or opposite, but hardly in the middle, thus failing to maintain a holistic compliant environment. This may definitely lead to unnecessary complications, risks or even business failure.