PART 2Money Laundering and Terrorist Financing
CHAPTER 2Risk assessment and controls
Requirement on authorised person to inform the FCA23
1
An authorised person whose supervisory authority is the FCA must, before acting as a money service business or a trust or company service provider or within 28 days of so doing, inform the FCA that it intends, or has begun, to act as such.
2
Paragraph (1) does not apply to an authorised person which—
a
immediately before the day on which these Regulations come into force (“the relevant date”) was acting as a money service business or a trust or company service provider and continues to act as such after that date; and
b
informs the FCA that it is acting as such within 30 days of the relevant date.
3
Where an authorised person whose supervisory authority is the FCA ceases to act as a money service business or a trust or company service provider, it must within 28 days inform the FCA.
4
Any requirement imposed by this regulation is to be treated as if it were a requirement imposed by or under FSMA.
5
Any information to be provided to the FCA under this regulation must be in such form or verified in such manner as it may specify.