Circular C252 (The Risk-Based Supervision Guidelines)

MNK Risk Consulting > Regulatory Developments > Circular C252 (The Risk-Based Supervision Guidelines)

CySEC wishes to inform the Regulated Entities of the following:

  1. The Joint Committee of the three European Supervisory Authorities (“ESAs”) (i.e. EBA, EIOPA and ESMA) published, on the 07.04.17, its final guidelines on the characteristics of a risk-based approach to AML and CFT supervision, and the steps to be taken when conducting supervision on a risk-sensitive basis (“The Risk-Based Supervision Guidelines”), in relation to the new Fourth AML (EU) Directive.
  2. The Risk-Based Supervision Guidelines are addressed to National Competent Authorities and their aim is to create both, a common understanding of the Risk-Based Supervision (“RBS”) and to establish consistent and effective supervisory practices across the EU.
  3. More specifically the RBS is characterised as an ongoing cyclical process that includes the following steps:
  4. Identification of ML/TF risk factors;
  5. The risk assessment;
  6. The allocation of AML/CFT supervisory resource based on the assessment;
  7. Monitoring and Review.

CySEC’s expects that: Considering that the Risk-Based Supervision Guidelines apply since 07.04.18, CySEC has incorporated them into its RBS Framework, as appropriate in the relevant AML/CFT RBS process. Hence, the Regulated Entities shall take into account and comply with those.

We use cookies to give you the best online experience. By agreeing you accept the use of cookies in accordance with our cookie policy.

Privacy Settings saved!
Privacy Settings

When you visit any web site, it may store or retrieve information on your browser, mostly in the form of cookies. Control your personal Cookie Services here.

These cookies are necessary for the website to function and cannot be switched off in our systems.

In order to use this website we use the following technically required cookies
  • wordpress_test_cookie
  • wordpress_logged_in_
  • wordpress_sec

Decline all Services
Accept all Services