Risk Evaluation Questionnaire 2021

The FIAU has recently announced details regarding the 2021 Risk Evaluation Questionnaires (REQs) which will be available on the Compliance and Supervision Platform for Assessing Risk (CASPAR) System for completion by subject persons as from 1^st March 2021.

 

In preparation to the required submissions, subject persons are due to start collecting and collating the necessary information which should enable them to complete the REQ in a timely manner.

 

The deadlines for submission of the 2021 REQs are as follows:

 

14 April - Virtual Financial Assets (VFA) Agents, Real Estate Agents, Notaries, Gaming Operators

21 April - Trustees & Fiduciaries, Company Service Providers, Accountants & Auditors, Advocates, Tax Advisors

28 April - Credit Institutions, Financial Institutions, Investments Service & Securities Markets, Insurance & Pensions.

 

The deadline for the Virtual Financial Assets Service Providers will be communicated at a later stage. Submission of the REQ following the respective deadlines will be considered as a late submission and may result in subject persons being liable to an administrative penalty.

 

BDO is here to help!

We can help in the preparation of the REQs by providing support services to subject persons. In particular, BDO can assist subject persons in understanding the REQs and what information is required. Besides this, BDO can help subject persons in preparing business risk assessments.

 

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