Frequently asked questions

Regulatory Compliance (compliance) consists of ensuring that a company complies with applicable legislation and legal management standards and identifies its legal and reputational risks. In Andorra, it is particularly relevant in areas such as key element in anti-money laundering., corporate governance and financial regulation.

At Ethyks we help organisations integrate compliance as a tool for trust, transparency and sustainability.

Ethyks provides regulatory compliance consulting services tailored to companies, financial institutions and professionals, including:

• Anti-money laundering and counter-terrorist financing (AML/CFT).
• Regulatory compliance and ethical governance.
• Digital asset regulation.
• Equality plans, harassment protocols and gender perspective.
• Compliance controls for artificial intelligence.
• Specialised training and ongoing support.

Compliance services are necessary for:

• Companies subject to AML/CFT regulations.
• Financial institutions and insurance companies.
• Digital asset service providers (VASPs).
• Professional firms (lawyers, notaries, real estate agents and advisers).
• Companies wishing to develop equality plans, sexual and sex-based harassment prevention protocols, and gender-responsive policies.
• Companies wishing to strengthen their governance and ethical culture.

At Ethyks we tailor our services to the reality and size of each organisation.

Companies subject to Law 14/2017 on anti-money laundering must:

• Identify and verify the identity of their customers.
• Assess the level of money laundering risk.
• Apply due diligence measures to mitigate the risks to which they are exposed.
• Supervise and monitor transactions and detect suspicious activities.
• Maintain internal manuals and effective controls.

Ethyks helps implement these requirements in a practical and tailored manner.

Yes. Entities considered obliged entities must have an AML/CFT Manual defining internal policies, procedures and controls. This manual must be aligned with applicable regulations and the criteria established by the UIFAND and must be updated periodically.

At Ethyks we design customised and operational manuals, not merely formal documents.

Yes. The regulations allow certain due diligence measures to be delegated to third parties, while responsibility remains with the obliged entity.

It is essential to establish clear control and supervision protocols..

Ethyks advises on secure outsourcing arrangements that comply with Andorran regulations.

Digital assets are primarily regulated by Law 24/2022, of 30 June, on the digital representation of assets through the use of cryptography and distributed ledger technology (DLT), which establishes the applicable framework governing the activity.

Ethyks supports companies in adapting to this regulatory framework.

Under European regulations (MiCA and other complementary regulations), the Travel Rule is established as an obligation requiring digital asset service providers to share information on the originator and beneficiary of transactions. It applies primarily to Virtual Asset Service Providers (virtual assets serveis providers o VASPs) and is a key element in anti-money laundering..

Artificial intelligence regulation is evolving, particularly with the European AI Regulation (AI Act).

Companies must ensure:

• Risk assessment.
• System transparency.
• Governance and oversight.
• Ethical and responsible use.

At Ethyks we assist in designing compliance controls for AI systems, tailored to the current and future regulatory framework.

An ethics channel is a mechanism that allows irregularities or breaches within an organisation to be reported.

Ethyks helps implement secure, confidential ethics channels that comply with regulations.

An equality plan is a set of measures designed to ensure equal treatment and opportunities within a company.

It is mandatory in certain cases, but recommended for all organisations seeking to strengthen their corporate culture.

Ethyks provides support in the assessment, design and implementation of equality plans.

Training is essential to ensure that staff understand their obligations and know how to respond to risks. Without training, regulatory compliance is not effective.

Ethyks designs practical training tailored to each sector and level of responsibility.

At Ethyks we follow a structured methodology:

1. Initial assessment.
2. Design of measures and controls.
3. Implementation and training.
4. Monitoring and continuous improvement.

This approach enables compliance to be integrated into the organisation in a real and effective way.