Regulatory Compliance

In its capacity as external manager, MNK Capital Management Ltd can serve as the appointed Regulatory Compliance Officer for its managed funds.  We ensure that the funds we manage are compliant with all applicable legal and regulatory requirements, including:

• The Cyprus Alternative Investment Funds Law of 2018 L.124(I);
• The Cyprus Alternative Investments Fund Managers Law (consolidated up to L.157(I)/2021);
• EU Directive 2011/61 on Alternative Investment Fund Managers (the “AIFMD”);
• EU Commission Delegated Regulation 231/2013, supplementing Directive 2011/61/EU with regard to exemptions, general operating conditions, depositaries, leverage, transparency and supervision of Alternative Investment Fund Managers;
• Common Reporting Standard (“CRS”);
• Foreign Account Tax Compliance Act (“FATCA”);
• Laws and Directives regarding the prevention of Money Laundering (“ML”) and Terrorist Financing (“TF”); and
• Latest relevant circulars, directive or amending laws issued by CySEC.

Our Regulatory Compliance Officer services, for the funds under our management, include the following:

• Assume full responsibility before CySEC;
• Development and implementation of a risk-based compliance monitoring plan;
• Updating the Compliance monitoring plan in order to ensure that it remains aligned to the risk profile of the managed funds as these may change from time to time;
• Monitoring and assessment, on a regular basis, of the adequacy and effectiveness of the measures, policies and procedures in place and any actions taken to address any deficiencies in the managed funds’ compliance with their obligations under the AIFM Law, CySEC Directives and other applicable regulations;
• Drafting of the Annual Report of the Compliance Officer;
• Follow up on previous years’ Compliance Officer’s Annual Reports and ensure findings have been addressed to a satisfactory manner;
• Conducting periodical reviews of the procedures followed by the officers, employees and other professionals involved in the activities of the managed funds to ensure compliance with applicable legislation;
• Review of any marketing material for the promotion and distribution of the managed funds’ units/shares. Ensuring that the marketing and distribution of shares/units of managed funds are compliant to the relevant CySEC directives;
• Review of Investor Key Information documents and/or Prospectuses of the managed funds (authorized/ to be authorised or registered/to be registered by CySEC or other competent authorities);
• Respond to or address queries posed by CySEC or other authorities
• Monitor adherence to regulatory limits;
• Ensure regulatory returns are prepared by the designated persons, prepared in accordance to the applicable regulatory guidelines/requirements and submitted within the regulatory deadlines;
• File notifications to CySEC where/when necessary;
• Preparing applications to CySEC for amending/extending the license of managed funds (e.g., closed ended to open ended, partnership to variable capital company, single scheme to umbrella structures, adding more investment compartments).