Risk Evaluation Questionnaire 2022 (REQ)

1st February 2022

REQ 2022 Submission

The 2022 Risk Evaluation Questionnaire (“REQ”) will be available on the Compliance and Supervision Platform for Assessing Risk (CASPAR) portal for completion by subject persons as from 1st March 2022.

Notwithstanding this, a copy of the revised 2022 REQ per sector is available below. This will allow subject persons to start collecting and collating the necessary information to be able to complete the REQ in a timely manner.

Subject persons are reminded that the REQ can only be submitted through the CASPAR portal.

For the purpose of assisting subject persons in completing the REQ 2022, the FIAU will be providing guidance for each question throughout the questionnaire itself. Therefore, this year, there will not be sector specific guidance documents available.

The deadlines for submission of the 2022 REQ are as follows:

Wednesday 13th April 2022Wednesday 20th April 2022Wednesday 27th April 2022
Virtual Financial Assets AgentsTrustees and FiduciariesCredit institutions
Virtual Financial Assets Service ProvidersCompany Service ProvidersFinancial Institutions
Real Estate Agents Accountants and Auditors Investments Service and Securities Markets
Notaries Tax AdvisorsInsurance and Pensions
Gaming OperatorsAdvocates 

Subject persons operating in categories falling on different deadlines should follow the last deadline. 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.

The FIAU reminds subject persons who are not yet registered on the CASPAR portal, that they are obliged to do so without further delay. Guidance on the registration process can be viewed by accessing the CASPAR user guide. Once the registration is accepted, subject persons can view and complete the 2022 REQ.

Subject Person Profile

Subject Persons are reminded to update the ‘Subject Person Profile’ module which requires subject persons to provide information on the subject person.

This information includes:

  • Information on the subject person’s ownership and its structure;
  • Information on the group that the subject person makes part of (if applicable);
  • Details of shareholders, beneficial owners and directors of the subject person;
  • Information on the turnover and net asset values;
  • Information on the target markets;
  • Details of the subject person’s external auditor (if applicable); and
  • A copy of the subject person’s business risk assessment.

Communication

Subject persons are reminded that any queries in relation to CASPAR and the submission of the REQ should be sent via email [email protected]