Deltamark is authorized by the Cyprus Securities and Exchange Commission with authorization number AIFM06/56/2013, as per the European Alternative Investments Fund Managers’ Directive (AIFMD) 2011/61/EU & its supplementing Directives.
The aim of the AIFMD is to bring a harmonized regulatory framework across the EEA for AIFMs in the EEA, and to enhance investor protection. To this end, it covers a large number of areas, including:
- Conduct of business
- Reporting and transparency
- Marketing and distribution
- Depositary duties and liabilities
As indicated by its name, the AIFMD centers on the AIFM and it is this entity which is regulated, which then impacts upon the Fund.
As such, the Compliance Department, as an integral part of the internal control mechanism, implements the measures required to manage the regulatory guidelines and the ever changing burdensome regulatory requirements which are constantly evolving.
This challenge is managed by an experienced and hands on team holding multi-disciplinary approach to achieve holistic compliance within Deltamark.
Compliance risk based approach culture is utilized from the Board to Senior Management to every departmental level. Regulatory updates and being on top of changes is given utmost importance to achieve a sound and stable environment.
Regulation 447.2013-On the procedure for AIFMs which choose to opt in under Directive 201161EU
Regulation 448.2013-On the determining the Member State of reference of a non-EU AIFM
Cyprus AIF Law 2018
EU AML DIRECTIVE 2018/1673
Directive (EU) 2018/1673 on combating money laundering by criminal law
AML Law Cyprus
The Prevention and Suppression of Money Laundering and Terrorist Financing Law of 2007-2018 (unofficial consolidation up to 13(I)/2018 and unofficial translation)
AML Law Amendment Cyprus