OJ L 337, 23.12.2015, p.35.
1970 c.9. Section 20BB was inserted by section 145(1) of the Finance Act 1989 (c.26), and amended by section 149(3) of the Finance Act 2000 (c.17), paragraph 69 of Schedule 36 to the Finance Act 2008 (c.9), and paragraph 46 of Schedule 38 to the Finance Act 2012 (c.14), and by S.I. 2009/56.
S.I. 1991/1091, amended by S.I. 1992/2833.
1985 c.61. Section 35 was amended by paragraph 25 of Schedule 17 and Schedule 23 to the Legal Services Act 2007 (c.29)
1990 c.18. Section 1 was amended by s.35 of the Police and Justice Act 2006 (c.48) and paragraph 7 of Schedule 4 to the Serious Crime Act 2015 (c.9). Section 2 was amended by paragraph 17 of Schedule 14 to the Police and Justice Act 2006 (c.48) and paragraph 7 of Schedule 4 to the Serious Crime Act 2015. Section 3 was amended by section 36 of the Police and Justice Act 2006 (c.48), and paragraph 7 of Schedule 4 to the Serious Crime Act 2015. Section 3ZA was inserted by section 41(2) of the Serious Crime Act 2015. Section 3A was inserted by section 37 of the Police and Criminal Justice Act 2006 (c.48) and amended by section 41 and 42 of and paragraphs 7 and 8 of Schedule 4 to the Serious Crime Act 2015.
1992 c.5. Section 112 was amended by paragraph 4 of Schedule 1 to the Social Security Administration (Fraud) Act 1997 (c.47), paragraph 6 of Schedule 6 and paragraph 1 of Schedule 9 to the Child Support, Pensions and Social Security Act 2000 (c.19) and by section 16(3) of the Social Security Fraud Act 2001 (c.11). Section 114 was amended by section 61 of the Social Security Act 1998 (c.14).
2002 c.21. Section 35 was amended by section 124 of the Welfare Reform Act 2012 (c.5), and will be repealed when Schedule 14 to that Act comes into force.
Schedule 7A was inserted by section 48 of the Crime and Courts Act 2013 (c.22).
1980 c.46. Subsection (1A) was inserted by paragraph 12 of Schedule 1 to the Law Reform (Miscellaneous Provisions) (Scotland) Act 1985 (c.73). Subsections (1B) and (1C) were inserted by S.S.I. 2004/383, and amended by section 31(3)(a) of the Law Reform (Miscellaneous Provisions) (Scotland) Act 1990 (c.40), and section 124(2) of the Legal Services (Scotland) Act 2010 (asp 16).
Part 20C was inserted by section 30 of the Bank of England and Financial Service Act 2016 (c.14).
OJ No L 141, 05.06.15, p. 73.
2000 c.11. Part 1 of Schedule 3A was substituted by S.I. 2007/3288. Paragraph 1 of that Schedule was amended by S.I. 2011/99, 2013/3115 and 2015/575. Paragraph 3 of that Schedule was amended by S.I. 2011/2701, 2013/3115 and 2015/575.
Paragraph (b) was amended by S.I. 2011/99 and 2013/3115.
Paragraph (j) was amended by S.I. 2008/948.
Paragraph 1(6) was substituted by S.I. 2016/680.
S.I. 2001/544. Article 72G was inserted by S.I. 2014/366.
OJ L 176, 27.6.2013, p.338.
2000 c.11. Part 2 of Schedule 3A was substituted by S.I. 2007/3288. Paragraph 4 was amended by paragraph 87(1), (2)(a) and (b) of Schedule 18 to the Financial Services Act 2012 (c.21), and by S.I. 2014/892.
OJ L 309, 25.11. 05, p.15.
OJ L 141, 05.06.15, p.73.
2002 c.29. Part 1 of Schedule 9 was substituted by S.I. 2007/3287. Paragraph 1 of that Schedule was amended by S.I. 2011/99, 2013/3115 and 2015/575. Paragraph 3 of that Schedule was amended by S.I. 2011/2701, 2013/3115 and 2015/575.
Paragraph (b) was amended by S.I. 2011/99 and 2013/3115.
Paragraph 1(6) was amended by S.I. 2016/680.
S.I. 2001/544. Article 3(1) was amended, but the amendments are not relevant to these Regulations.
Article 72G was inserted by S.I. 2014/366, and amended by S.I. 2015/910 and 2016/392.
OJ L 176, 27.6.2013, p.338.
OJ L 309, 25.11. 05, p.15.
OJ L 141, 05.06.15, p.73.
OJ L 345, 8.12. 06, p.1.
S.I. 1999/401. The Schedule was substituted by S.R. (N.I.) 2014 No 48. There are other amendments which are not relevant to these Regulations.
S.I. 2001/192. The definition of “relevant business” was amended by S.I. 2003/3075, 2007/2157.
S.I. 2001/341. Regulation 114(3)(b)was amended by S.I. 2003/3075, 2007/2157, 2013/472.
S.I. 2001/497 (S.2). Regulation 113(3)(b) was amended by S.I. 2003/3075, 2007/2157, 2013/472.
S.I. 2001/544. Regulation 72E was inserted by S.I. 2005/1518, and paragraph (9) was amended by S.I. 2007/2157.
S.I. 2003/93. Article 3(d) was amended by S.I. 2007/2157 and S.S.I. 2014/49.
S.I. 2003/171. Article 2 was amended by S.I. 2007/2157.
S.I. 2007/3544. The references to Her Majesty's Revenue and Customs and a professional body were amended by S.I. 2009/2981. There are other amendments to the Schedule which are not relevant to these Regulations.
Regulation 2(1) was amended, but those amendments are not relevant to these Regulations.
OJ L 345, 8.12.2006, p.1.
OJ L 141, 05.06.2015, p.1.
Paragraph 10(h) was amended by S.I. 2015/1911.
S.I. 2009/214. Paragraph 7(b) was amended by S.I. 2013/472.
OJ L 309, 25.11. 05, p15.
OJ L 141, 05.06.15, p73.
S.I. 2009/1801. Paragraph 7(b) was amended by S.I. 2013/472.
OJ No L 309, 25.11. 05, p15.
OJ No L 141, 05.06.15, p73.
OJ No L 345, 8.12. 06, p1.
OJ L 141, 05.06.2015, p.1.
OJ L 141, 05.06.15, p.73.
S.I. 2014/2418. There are amendments to the Schedule, but they are not relevant to these Regulations.
OJ L 309, 25.11. 05, p.15.
Sch. 3 para. 27A inserted (25.5.2018) by Data Protection Act 2018 (c. 12), s. 212(1), Sch. 19 para. 419 (with ss. 117, 209, 210); S.I. 2018/625, reg. 2(1)(g)
Sections 339ZH-339ZK (further information orders) were inserted into Part 7 by section 12 of the Criminal Finances Act 2017 (c. 22) (“the 2017 Act”). Other amendments have been made to Part 7 but none are relevant.
Sections 362A-362I (unexplained wealth orders: England and Wales and Northern Ireland) and 396A-396I (unexplained wealth orders: Scotland) were inserted into Part 8 by sections 1 and 4 of the 2017 Act. Sections 357, 358 and 362 (disclosure orders: England and Wales and Northern Ireland) and sections 391, 392 and 396 (disclosure orders: Scotland) were amended by sections 7 and 8 of the 2017 Act. Other amendments have been made to Part 8 but none are relevant.
Section 445 was amended by section 24(3) of the 2017 Act.
Part 3 was amended by Schedule 2 (disclosure orders) to the 2017 Act. Sections 22B-22E (further information orders) were inserted into Part 3 by section 37 of the 2017 Act. Other amendments have been made to Part 3 but none are relevant.
Section 341 is amended by section 75(1) of the Serious Crime Act 2007 (c. 27); paragraph 2 of Schedule 19 to the Coroners and Justice Act 2009 (c. 25); paragraph 110 of Schedule 7 to the Policing and Crime Act 2009 (c. 26); paragraphs 2 and 25 of Schedule 19 to the Crime and Courts Act 2013 (c. 22); section 38(1) of, and paragraph 55 of Schedule 4 to, the Serious Crime Act 2015 (c. 9); and section 33 of, and paragraph 39 of Schedule 5 to, the Criminal Finances Act 2017 (“the 2017 Act”).
Schedule 5 was inserted by paragraphs 3 and 4 of Schedule 2 to the 2017 Act.
Sch. 6A inserted (10.1.2020) by The Money Laundering and Terrorist Financing (Amendment) Regulations 2019 (S.I. 2019/1511), regs. 1(2), 13
Sch. 4 para. 19 inserted (10.1.2020) by The Money Laundering and Terrorist Financing (Amendment) Regulations 2019 (S.I. 2019/1511), regs. 1(2), 11(b)
Sch. 4 para. 12A inserted (10.1.2020) by The Money Laundering and Terrorist Financing (Amendment) Regulations 2019 (S.I. 2019/1511), regs. 1(2), 11(a)
Sch. 6 para. 7(da) inserted (10.1.2020) by The Money Laundering and Terrorist Financing (Amendment) Regulations 2019 (S.I. 2019/1511), regs. 1(2), 12(a)
Sch. 6 para. 10(c) inserted (10.1.2020) by The Money Laundering and Terrorist Financing (Amendment) Regulations 2019 (S.I. 2019/1511), regs. 1(2), 12(c)
Sch. 6 para. 12(ca)-(cc) inserted (10.1.2020) by The Money Laundering and Terrorist Financing (Amendment) Regulations 2019 (S.I. 2019/1511), regs. 1(2), 12(d)
Sch. 6 para. 9A inserted (10.9.2020) by The Money Laundering and Terrorist Financing (Amendment) Regulations 2019 (S.I. 2019/1511), regs. 1(4), 12(b)
Sch. 3A inserted (6.10.2020) by The Money Laundering and Terrorist Financing (Amendment) (EU Exit) Regulations 2020 (S.I. 2020/991), regs. 1(2), 11
Words in Sch. 6 para. 9(c) substituted (6.10.2020) by The Money Laundering and Terrorist Financing (Amendment) (EU Exit) Regulations 2020 (S.I. 2020/991), regs. 1(2), 12(a)
Sch. 6 para. 9(d) inserted (6.10.2020) by The Money Laundering and Terrorist Financing (Amendment) (EU Exit) Regulations 2020 (S.I. 2020/991), regs. 1(2), 12(b)
Sch. 6 para. 5(a)(v) omitted (31.12.2020) by virtue of The Money Laundering and Transfer of Funds (Information) (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/253), regs. 1(2), 11(3) (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)
Words in Sch. 6 para. 1(c)(i) substituted (22.4.2021) by The Recognised Auction Platforms (Amendment and Miscellaneous Provisions) Regulations 2021 (S.I. 2021/494), regs. 1(2), 8(6)(a)
Words in Sch. 6 para. 1(c)(ii) substituted (22.4.2021) by The Recognised Auction Platforms (Amendment and Miscellaneous Provisions) Regulations 2021 (S.I. 2021/494), regs. 1(2), 8(6)(b)
Sch. 3ZA substituted (2.11.2021) by The Money Laundering and Terrorist Financing (Amendment) (No. 3) (High-Risk Countries) Regulations 2021 (S.I. 2021/1218), regs. 1(2), 2(2)
Sch. 3A para. 6A inserted (9.3.2022) by The Money Laundering and Terrorist Financing (Amendment) Regulations 2022 (S.I. 2022/137), regs. 1, 5(b)
Sch. 3A para. 4 substituted (9.3.2022) by The Money Laundering and Terrorist Financing (Amendment) Regulations 2022 (S.I. 2022/137), regs. 1, 5(a)
Regulation 7(1)(b)
Association of Accounting Technicians
Association of Chartered Certified Accountants
Association of International Accountants
Association of Taxation Technicians
Chartered Institute of Legal Executives
Chartered Institute of Management Accountants
Chartered Institute of Taxation
Council for Licensed Conveyancers
Faculty of Advocates
Faculty Office of the Archbishop of Canterbury
General Council of the Bar
General Council of the Bar of Northern Ireland
Insolvency Practitioners Association
Institute of Certified Bookkeepers
Institute of Chartered Accountants in England and Wales
Institute of Chartered Accountants in Ireland
Institute of Chartered Accountants of Scotland
Institute of Financial Accountants
International Association of Bookkeepers
Law Society
Law Society of Northern Ireland
Law Society of Scotland
Regulation 10(4)
The activities listed in points 2 to 12, 14 and 15 of Annex I to the Capital Requirements Directive are—
Lending including, inter alia: consumer credit, credit agreements relating to immovable property, factoring, with or without recourse, financing of commercial transactions (including forfeiting). Financial leasing. Payment services as defined in point (3) of Article 4 of Directive 2015/2366/EU Issuing and administering other means of payment (e.g. travellers' cheques and bankers' drafts) insofar as such activity is not covered by point 4. Guarantees and commitments. Trading for own account or for account of customers in any of the following: money market instruments (cheques, bills, certificates of deposit, etc.); foreign exchange; financial futures and options; exchange and interest-rate instruments; transferable securities. Participation in securities issues and the provision of services relating to such issues. Advice to undertakings on capital structure, industrial strategy and related questions and advice as well as services relating to mergers and the purchase of undertakings. Money broking. Portfolio management and advice. Safekeeping and administration of securities. Safe custody services. Issuing electronic money.
Regulation 26(14)
An offence under the Perjury Act 1911
An offence under section 89 of the Criminal Justice Act 1967 (false written statements tendered in evidence)
An offence under section 20BB of the Taxes Management Act 1970 (falsification of documents)
An offence under section 11 of the European Communities Act 1972 (EU offences)
An offence under Article 10 of the Perjury (Northern Ireland) Order 1979 (false statutory declarations and other false unsworn statements)
An offence under the Customs and Excise Management Act 1979
An offence under the Estate Agency Act 1979, or specified for the purposes of section 3 of that Act in the Estate Agents (Specified Offences) (No 2) Order 1991
An offence under any of sections 1 to 5 of the Forgery and Counterfeiting Act 1981
An offence under section 35 of the Administration of Justice Act 1985 (penalty for pretending to be a licensed conveyancer or recognised body)
An offence under section 11(1) (undischarged bankrupts) or 13 (criminal penalties) of the Company Directors Disqualification Act 1986
An offence under section 1, 2, 3, 3ZA or 3A of the Computer Misuse Act 1990
An offence under section 112 (false representations or obtaining benefit) or 114 (offences relating to contributions) of the Social Security Administration Act 1992
An offence under section 52 of the Criminal Justice Act 1993
An offence under the Value Added Tax Act 1994
An offence under section 44(2) of the Criminal Law (Consolidation) (Scotland) Act 1995 (false statement and declarations)
An offence under the Data Protection Act 1998
An offence under the Terrorism Act 2000
An offence under paragraph 7(2) or (3) of Schedule 3 to the Anti-Terrorism, Crime and Security Act 2001
An offence under the Money Laundering Regulations 2001
An offence under section 35 of the Tax Credits Act 2002
An offence under Part 7 (money laundering) or Part 8 (investigations) of, or listed in Schedule 2 (lifestyle offences: England and Wales), 4 (lifestyle offences: Scotland) or 5 (lifestyle offences: Northern Ireland) to, the Proceeds of Crime Act 2002
An offence under the Commissioners for Revenue and Customs Act 2005
An offence under the Terrorism Act 2006
An offence under section 1, 2, 6 or 7 of the Bribery Act 2010
An offence under section 45 of the Serious Crime Act 2015
An offence under Parts 1 (general privacy protections); 2 (lawful interception of communications), 3 (authorisations for obtaining communications data), 5 (equipment interference), 6 (bulk warrants) and 7 (bulk personal dataset warrants) of the Investigatory Powers Act 2016
An offence under section 45 (failure to prevent facilitation of UK tax evasion offences) or 46 (failure to prevent facilitation of foreign tax evasion offences) of the Criminal Finances Act 2017
An offence under the Data Protection Act 2018, apart from an offence under section 173 of that Act.
An offence of cheating the public revenue.
An offence under the law of any part of the United Kingdom consisting of being knowingly concerned in, or in taking steps with a view to, the fraudulent evasion of tax.
Any offence which has deception or dishonesty as one of its components.
The common law offences of conspiracy to defraud and perverting the course of justice.
An offence of attempting, conspiring or inciting the commission of an offence specified in this Schedule.
An offence under section 44 of the Serious Crime Act 2007 of doing an act capable of encouraging or assisting the commission of an offence specified in this Schedule.
An offence of aiding, abetting, counselling or procuring the commission of an offence specified in this Schedule.
An act which—
constituted an offence under the law of a foreign country, and
would have constituted an offence under any of paragraphs 1 to 34 under the law of any part of the United Kingdom if it had been done—
in that part of the United Kingdom;
by a person who is linked to part of the United Kingdom (within the meaning of paragraph 5(3) of Schedule 7A to the Proceeds of Crime Act 2002 (connection with relevant part of the United Kingdom)
as regards the United Kingdom.
Regulation 33(3)
Albania
Barbados
Burkina Faso
Cambodia
Cayman Islands
Democratic People’s Republic of Korea
Haiti
Iran
Jamaica
Jordan
Mali
Malta
Morocco
Myanmar
Nicaragua
Pakistan
Panama
Philippines
Senegal
South Sudan
Syria
Turkey
Uganda
Yemen
Zimbabwe
Regulation 42
A trust imposed or required by an enactment.
A trust created by, or in order to satisfy the terms of, an order of a court or tribunal.
A trust holding sums or assets of a pension scheme which is a registered pension scheme for the purposes of Part 4 of the Finance Act 2004.
A trust of a life policy paying out only—
on the death, terminal or critical illness, or permanent or temporary disablement of the person assured; or
to meet the cost of healthcare services provided to the person assured.
A trust of an insurance policy paying out only—
on the temporary disablement of the person assured, where that policy was applied for at the same time as a policy under sub-paragraph (1); or
to meet the cost of healthcare services provided to the person assured.
A trust of the benefits payable on the death of the person assured under a retirement policy.
A trust for charitable purposes which—
in Scotland or Northern Ireland, is registered as a charity; or
in England and Wales, is registered as a charity or not required to register by virtue of section 30(2)(a) to (d) of the Charities Act 2011.
A trust which—
holds property with a value not exceeding £100, and
was created before the date on which regulation 42(2)(iii) of these Regulations comes into force.
A trust which is created as a requirement of opening a relevant account for the sole benefit of—
a person under the age of 18;
a person who lacks capacity within the meaning of section 2 of the Mental Capacity Act 2005;
a person who is incapable within the meaning of section 1 of the Adults with Incapacity (Scotland) Act 2000; or
a person who is incapable of managing and administering the person’s property and affairs, by reason of mental disorder within the meaning of Article 3(1) of the Mental Health (Northern Ireland) Order 1986.
In this paragraph—
“
“
A trust effected by will where—
the trust is holding only the property comprised in a person’s estate on death, and
less than two years has passed since that person’s death.
In this paragraph, a person’s “estate” means the aggregate of all the property to which that person is beneficially entitled.
A trust where—
the trust is holding only benefits received on the death of the person assured under a policy within paragraph 4, and
less than two years has passed since that person’s death.
A trust of jointly held property where the trustees and the beneficiaries are the same persons.
A trust—
created under, or for the purpose of, the default arrangements of a designated system or of the default rules of a recognised body, or for the purpose of any action or proceedings taken by or for such a system or body under such arrangements or rules;
relating to the creation of a beneficial interest in securities belonging to a person whose name and address are maintained on a register of securities (within the meaning of regulation 3(1) of the Uncertificated Securities Regulations 2001); or
created by or for a segregating entity—
for the purpose of protecting sums or assets belonging to the segregating entity’s clients; or
for the purpose of complying with a legal obligation to safeguard and segregate sums or assets belonging to the segregating entity’s clients or to keep separate client records and accounts.
In this paragraph—
“clearing member” and “default rules” have the meanings given, respectively, in sections 190(1) and 188 of the Companies Act 1989;
“default arrangements”, “designated system” and “participant” have the meanings given in regulation 2(1) of the Financial Markets and Insolvency (Settlement Finality) Regulations 1999;
“recognised body” and “recognised central counterparty” have the meanings given in section 313 of FSMA;
“segregating entity” means—
an authorised person;
a clearing member of a recognised central counterparty;
a participant in a designated system;
a designated system; or
a recognised body.
A trust created for the purpose of enabling or facilitating the holding of sums, assets or (in the case of sub-paragraph (c)), documents, belonging to a person other than the trustee, in connection with which sums, assets or documents the trustee is—
carrying on by way of business the activity specified in article 40 (safeguarding and administering investments) of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001;
acting by way of business as the trustee of an authorised unit trust scheme (and for this purpose “trustee” and “authorised unit trust scheme” have the meanings given in section 237 of FSMA); or
acting by way of business as an agent holding sums, assets or documents in escrow until the performance of a contractual condition agreed between two or more other persons, including the person for whom the sums, assets or documents are being held.
A trust created by a relevant supervised person for the purpose of holding client money, securities or other assets, where that trust is incidental to the carrying on of business by the relevant supervised person.
A trust created for the purpose of enabling or facilitating an activity listed in points 2, 3, 6, 7 or 8 of Annex 1 to the capital requirements directive as set out in Schedule 2, or for protecting or enforcing rights relating to that activity, where—
one or more of the participants in that activity is a relevant supervised person, and
the use of the trust is incidental to the principal purpose of that activity.
A trust created for the purpose of—
enabling or facilitating a transaction effected for genuine commercial reasons; or
protecting or enforcing rights relating to such a transaction,
where the use of the trust is incidental to the principal purpose of the transaction.
A trust created on the transfer or disposal of an asset where the purpose of the trust is to hold the legal title to the asset on trust for the person to whom the transfer or disposal is being made until the time when the procedure required by law to effect the transfer or disposal of legal title is completed.
A trust holding property to which section 71A or 71D of the Inheritance Tax Act 1984 applies.
A trust of property in respect of which a direction under paragraph 1 of Schedule 4 to the Inheritance Tax Act 1984 has effect.
A trust of funds derived from a payment—
made for the benefit of a person in consequence of a personal injury to that person, and
disregarded from capital under regulation 46(2) of, and paragraph 12 of Schedule 10 to, the Income Support (General) Regulations 1987.
A trust holding tenants’ contributions for the purposes of section 42 of the Landlord and Tenant Act 1987.
The plan trust of a share incentive plan which meets the requirements of Part 9 of Schedule 2 to the Income Tax (Earnings and Pensions) Act 2003.
A trust created under a share option scheme that meets the requirements of Parts 2 to 7 of Schedule 3 to the Income Tax (Earnings and Pensions) Act 2003.
A trust holding property for a beneficiary who is a disabled person within the meaning given by Schedule 1A to the Finance Act 2005.
A trust created for the purposes of enabling or assisting—
a public authority, within the meaning of section 3(1) of the Freedom of Information Act 2000, or a body specified in section 80(2) of that Act;
a Scottish public authority, within the meaning of section 3(1) of the Freedom of Information (Scotland) Act 2002;
the Security Service, the Secret Intelligence Service, the Government Communications Headquarters or the National Crime Agency; or
the Welsh Assembly Government,
to carry out its functions, including any functions as a court or tribunal and, in the case of the Bank of England, any of its functions as a monetary authority within the meaning of section 244(2)(c) of the Banking Act 2009.
In this Schedule, “relevant supervised person” means—
a relevant person; or
a person who is subject to requirements in national legislation having an equivalent effect to those laid down in the fourth money laundering directive on an obliged entity (within the meaning of that directive) and supervised for compliance with those requirements in a manner equivalent to section 2 of Chapter VI of the fourth money laundering directive.
Regulation 51(1)
The number of persons subject to the supervision of the supervisory authority, or in the case of a self-regulatory organisation, the number of its members (“supervised persons”).
The number of supervised persons who are individuals.
In the case of a self-regulatory organisation, the number of its supervised persons who act as trust or company service providers.
In the case of a self-regulatory organisation, the number of applications for membership which the organisation has—
received,
rejected, and
accepted.
The services provided by supervised persons.
The number of firms subject to the supervision of the supervisory authority which the authority considers to be—
high risk;
medium risk;
low risk;
and for these purposes, “
The number of applications for approval received by the supervisory authority under regulation 26, and the number of those that—
were refused;
were accepted;
are to be determined.
The number of approvals under regulation 26 which were not valid, or ceased to be valid under paragraph (9) of that regulation.
In the case of a self-regulatory organisation, the number, amount and type of disciplinary measures it has imposed in relation to contraventions of these Regulations on supervised persons.
The number of times the supervisory authority has—
refused to register an applicant for registration under regulation 59; or
exercised any powers under regulation 60.
The number of times the supervisory authority has exercised any powers under Part 8.
The number of contraventions of these Regulations committed by supervised persons.
The number of contraventions of these Regulations identified upon exercise of the powers under Part 8.
The number and amount of penalties or charges which have been imposed under Part 9.
The number of times the supervisory authority has exercised the other powers under Part 9.
The number of times the supervisory authority or any of its supervised persons has made a suspicious activity disclosure to the NCA, and for these purposes, “
The number of supervised persons who have contravened requirements imposed by or under—
Part 3 of the Terrorism Act 2000 (terrorist property)
Part 7 (money laundering) or 8 (investigations) of the Proceeds of Crime Act 2002
Information on the money laundering and terrorist financing practices that the supervisory authority considers apply to its own sector.
Indications that the supervisory authority considers to suggest that a transfer of criminal funds takes place in their own sector.
The amount of human resource allocated by the supervisory authority to supervising the countering of money laundering and terrorist financing.
Regulation 65(3)
If the relevant person or payment service provider is a body corporate, any person who is or has been—
an officer or manager of the body corporate;
an officer or manager of a parent undertaking of the body corporate;
an employee of the body corporate;
an agent of the body corporate; or
an agent of a parent undertaking of the body corporate.
If the relevant person or payment service provider is a partnership, any person who is or has been a member, manager, employee or agent of the partnership.
If the relevant person or payment service provider is an unincorporated association of persons which is not a partnership, any person who is or has been a member, an officer, manager, employee or agent of the association.
If the relevant person or payment service provider is an individual, any person who is or has been an employee or agent of that individual.
Regulation 75
For the purposes of Part 9 of these Regulations, “
a requirement imposed by the funds transfer regulation specified—
in relation to a payment service provider of a payer, in paragraph 2;
in relation to a payment service provider of a payee, in paragraph 3;
in relation to the payment service provider of an intermediary, in paragraph 4.
a requirement imposed (otherwise than on supervisory authorities, registering authorities or auction platforms) in or under the regulations specified in paragraphs 5 to 13;
the following requirements imposed on auction platforms—
the customer due diligence requirements in
the monitoring and record keeping requirements of
the requirements imposed in regulations 18 to 21 or 24 of these Regulations;
any requirement imposed under regulations 66, 69(2), 70(7), 77(2) and (6) or 78(2) or (5) of these Regulations.
The requirements specified in this paragraph are those imposed in—
Article 4 (information accompanying transfers of funds);
Article 5 (information within the EEA);
Article 6 (transfer of funds outside the EEA);
Article 14 (provision of information);
Article 15 (data protection);
Article 16 (record retention).
The requirements specified in this paragraph are those imposed in—
Article 7 (detection of missing information on the payer or the payee);
Article 8 (transfers of funds with missing or incomplete information on the payer or the payee);
Article 9 (assessment and reporting);
Article 14 (provision of information);
Article 15 (data protection);
Article 16 (record retention).
The requirements specified in this paragraph are those imposed in—
Article 10 (retention of information on the payer and the payee with the transfer);
Article 11 (detection of missing information on the payer or the payee);
Article 12 (transfer of funds with missing information on the payer or the payee);
Article 13 (assessment and reporting);
Article 14 (provision of information);
Article 15 (data protection);
Article 16 (record retention).
The requirements specified in this paragraph are those—
imposed in—
regulation 18 (risk assessment by relevant persons);
regulation 19 (policies, controls and procedures);
regulation 20 (policies, controls and procedures: group level);
regulation 21 (internal controls);
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
regulation 23 (requirement on authorised person to inform the FCA);
regulation 24 (training);
imposed by supervisory authorities under regulation 25 (supervisory action).
The requirements specified in this paragraph are those imposed in regulation 26(1), (4), (5) and (10) (prohibition and approvals).
The requirements specified in this paragraph are those imposed in—
regulation 27 (customer due diligence);
regulation 28 (customer due diligence measures);
regulation 29 (additional customer due diligence measures: credit institutions and financial institutions),
regulation 30 (timing of verification);
regulation 30A (requirement to report discrepancies in registers);
regulation 31(1) (requirement to cease transactions);
regulation 33(1) and (4) to (6) (obligation to apply enhanced customer due diligence);
regulation 34 (enhanced customer due diligence: credit institutions, financial institutions and correspondent relationships);
regulation 35 (enhanced customer due diligence: politically exposed persons);
regulation 37 (application of simplified due diligence);
regulation 38(3) (electronic money).
The requirements specified in this paragraph are those imposed in—
regulation 39(2) and (4) (reliance);
regulation 40(1) and (5) to (7) (record keeping);
regulation 41 (data protection).
The requirements specified in this paragraph are those imposed in—
regulation 43 (corporate bodies: obligations);
regulation 44 (trustee obligations);
regulation 45(2)
regulation 45ZA(3) to (7) (register of beneficial ownership: additional types of trust).
The requirements specified in this paragraph are those imposed in regulation 45B (duty to respond to requests for information) and 45G(1) and (3) (record keeping).
The requirements specified in this paragraph are those imposed in—
regulation 56(1) and (5) (requirement to be registered);
regulation 57(1) and (4) (applications for registration in a register maintained under regulations 54 or 55);
regulation 60A (disclosure by cryptoasset businesses).
The requirements specified in this paragraph are those imposed in regulation 64(2) (obligations of payment service providers);
The requirements specified in this paragraph are those imposed under—
regulation 66 (power to require information);
regulation 69(2) (entry, inspection of premises without a warrant);
regulation 70(7) (entry of premises under warrant);
regulation 74A (reporting requirements: cryptoasset businesses);
regulation 74B (report by a skilled person: cryptoasset businesses);
regulation 74C (directions: cryptoasset businesses);
regulation 77(2) and (6) (power to impose civil penalties: suspension and removal of authorisation);
regulation 78(2) and (5) (power to prohibit individuals from managing).
The requirement specified in this paragraph is the requirement imposed in regulation 84(1).
Regulation 104A
In this Schedule
“external request” means a request to the NCA for information by a foreign FIU which may be relevant for the purpose of the foreign FIU’s performance of FIU functions;
“FIU functions” means the functions of a financial intelligence unit as set out in the fourth money laundering directive;
“foreign competent authority” means an authority in an EEA state other than the United Kingdom which has equivalent functions to those of a United Kingdom competent authority to which a foreign FIU may provide information in connection with its performance of FIU functions;
“foreign FIU” means an authority in an EEA state other than the United Kingdom which performs FIU functions in that state;
“relevant information” means information the NCA possesses in connection with its performance of FIU functions which it considers relevant to an external request;
“the 2000 Act” means the Terrorism Act 2000
“the 2002 Act” means the Proceeds of Crime Act 2002
“United Kingdom competent authority” means any authority other than the NCA concerned in the prevention, investigation, detection or prosecution of criminal offences contained in Part 7 (money laundering) of the 2002 Act or Part 3 (terrorist property) of the 2000 Act, and any supervisory authority, to which the NCA disseminates information in its performance of FIU functions.
Where the NCA has, in its performance of FIU functions, disseminated any information to a United Kingdom competent authority, that authority must, upon request, provide a report to the NCA about the authority’s use of that information, including the outcome of any investigations or inspections conducted on the basis of that information.
The NCA must take such steps as it considers appropriate to co-operate with foreign FIUs in their performance of FIU functions.
In response to an external request, the NCA must (subject to paragraph 10) provide promptly any relevant information in the NCA’s possession.
Where an external request is received and the NCA does not possess information which the NCA considers relevant to the external request, and it suspects a relevant person possesses such information, the NCA—
may exercise its powers under Parts 7
must (subject to paragraph 10) provide any relevant information received in consequence of any such order promptly to the foreign FIU concerned.
The NCA must designate at least one point of contact with responsibility for receiving external requests.
Where the NCA has provided relevant information to a foreign FIU, and that foreign FIU makes a request for consent to disseminate some or all of the relevant information to a foreign competent authority, the NCA must (subject to paragraph 11) consent to the dissemination of as much of the requested information as possible and communicate its consent promptly to the foreign FIU.
Where the NCA provides relevant information in response to an external request in accordance with this Schedule, the NCA shall take such steps as it considers appropriate to ensure that such information is transmitted securely.
The NCA may impose such restrictions and conditions on the use of relevant information provided in response to an external request as the NCA considers appropriate.
Where an obligation arises under this Schedule for the NCA to provide relevant information in response to an external request, the NCA may decide not to provide some or all of the information where and to the extent that the NCA considers that doing so could be contrary to national law.
The NCA is not required to comply with the duty to give consent to the dissemination of information to a foreign competent authority under paragraph 7 if and to the extent that the NCA considers that the giving of such consent could—
prejudice an investigation, whether into a criminal cause or matter or in relation to any investigation referred to in section 341 (investigations) of the 2002 Act
be contrary to national law.
The NCA must have particular regard—
where making a decision under paragraph 10, to the need for as unfettered an exchange of relevant information in response to external requests as possible, or
where making a decision under paragraph 11, to the need for as unfettered dissemination of information as possible by a foreign FIU to foreign competent authorities,
in order for the foreign FIU concerned to carry out FIU functions efficiently and effectively.
Paragraphs 14 and 15 apply where the NCA wishes to obtain information concerning a relevant person which has its head office in an EEA state other than the United Kingdom.
The NCA must address a request for the information to the foreign FIU in the state in which the relevant person has its head office.
Where the NCA makes a request to a foreign FIU for information which the NCA considers may be relevant for its performance of FIU functions, the request must contain the relevant facts and background information, reasons for the request and how the information sought is proposed to be used.
Where the NCA receives information from a foreign FIU, the NCA must—
use the information only for the purpose for which it was sought or provided, unless it has obtained the prior consent of the foreign FIU to any other use of the information;
comply with any restrictions or conditions of use which have been imposed by the foreign FIU in respect of the information; and
obtain the prior consent of the foreign FIU to any further dissemination of the information.
Regulation 109
In section 34 of the Solicitors (Scotland) Act 1980
Rules made under this section may make provision as to the way in which solicitors and incorporated practices are to comply with the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017.
In Schedule 3 to the Northern Ireland Act 1998 (reserved matters)
in paragraph 25, for “the Money Laundering Regulations 2007”
omit paragraph 25A.
FSMA
In section 226 (complaints: the ombudsman scheme etc) after subsection (7) insert—
The rules must provide that a person within subsection (7B) is eligible in relation to a complaint to which subsection (7C) applies. A person is within this subsection if he or she has been identified by a respondent, in carrying on an activity to which the rules apply, as— a politically exposed person; a family member of a politically exposed person; or a known close associate of a politically exposed person. This subsection applies to a complaint— that the complainant has been incorrectly identified as a person within subsection (7B); or relating to an act or omission of the respondent in consequence of the identification of the complainant as a person within subsection (7B). In subsection (7B), “
For the heading of Part 20C (as inserted by the Bank of England and Financial Services Act 2016)
In section 333U (guidance relating to money laundering and politically exposed persons)—
in the heading, after “Money laundering” insert
in subsection (3)—
for “Secretary of State” substitute
in paragraph (b), after “by the FCA” insert
The Terrorism Act 2000
In section 21G (other permitted disclosures etc), in subsection (1)(a), for “the Money Laundering Regulations 2007 (S.I. 2007/2157)” substitute
In section 21H(4), for the words from “Directive 2005/60/EC” to “2005” substitute
Part 1 of Schedule 3A
In paragraph 1(1)—
in paragraph (b)
at the end of sub-paragraph (i), omit “or”;
after sub-paragraph (i), insert—
an undertaking whose only listed activity is as a creditor under an agreement which— falls within section 12(a) of the Consumer Credit Act 1974 provides fixed sum credit (within the meaning given in section 10(1)(b) of the Consumer Credit Act 1974 (running-account credit and fixed-sum credit)) in relation to the provision of services; and provides financial accommodation by way of deferred payment or payment by instalments over a period not exceeding 12 months; or
after paragraph (j)
the carrying on of local audit work within the meaning of Schedule 5 to the Local Audit and Accountability Act 2014 (eligibility and regulation of local auditors) by any firm or individual who is a local auditor within the meaning of section 4(1) of that Act (general requirements for audit);
in paragraph (q)—
after “involves the” insert
for “15,000” substitute
In paragraph 1(5)(b), omit “contained in international standards and are”.
In paragraph 1(6)
In paragraph 2(1)—
in paragraph (c) for “25” substitute
in paragraph (d), at the end, omit “or”;
at the end, insert—
the carrying on by a local authority (within the meaning given in article 3(1) of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001) the preparation of a home report, which for these purposes means the documents prescribed for the purposes of sections 98, 99(1) or 101(2) of the Housing (Scotland) Act 2006
In paragraph 2(3)—
in paragraph (a), for “£64,000” substitute “£100,000;
in paragraph (f), after “(r)” insert
In paragraph 3—
in sub-paragraph (1), at the appropriate place insert—
“
in sub-paragraph (3)—
after “Capital Requirements Regulation” insert
after “Part as” insert
In Part 2 of Schedule 3A
in sub-paragraph (1), omit paragraphs (b), (ea) and (f) (but not the “and” after paragraph (f));
in sub-paragraph (2)—
after paragraph (d), insert—
the Chartered Institute of Legal Executives;
omit paragraph (f).
In the Criminal Justice and Police Act 2001
in section 68(2) (application to Scotland)—
in paragraph (g), for “regulation 39(6) of the Money Laundering Regulations 2007”
omit paragraph (h);
in Part 1 of Schedule 1 (powers of seizure to which section 50 of the 2001 Act applies)—
in the heading above paragraph 73J, for “The Money Laundering Regulations 2007” substitute
in paragraph 73J, for “regulation 39(6) of the Money Laundering Regulations 2007” substitute
omit paragraph 73K and the heading above it.
The Proceeds of Crime Act 2002
In section 333D (other permitted disclosures etc), in subsection (1)(a) for “the Money Laundering Regulations 2007 (S.I. 2007/2157)” substitute
In section 333E (interpretation), in subsection (4), for the words from “Directive 2005/60/EC”
In Part 1 of Schedule 9
in paragraph (b)
for “Capital Requirements Regulation”, in both places, substitute
at the end of sub-paragraph (i), omit “or”;
after sub-paragraph (i), insert—
an undertaking whose only listed activity is as a creditor under an agreement which— falls within section 12(a) of the Consumer Credit Act 1974 provides fixed sum credit (within the meaning given in section 10(1)(b) of the Consumer Credit Act 1974 (running-account credit and fixed-sum credit)) in relation to the provision of services; and provides financial accommodation by way of deferred payment or payment by instalments over a period not exceeding 12 months; or
after paragraph (j), insert—
the carrying on of local audit work within the meaning of Schedule 5 to the Local Audit and Accountability Act 2014
in paragraph (q)—
after “involves the” insert
for “15,000” substitute
In paragraph 1(5)(b), omit “contained in international standards and are”.
In paragraph 1(6)
In paragraph 2—
in sub-paragraph (1)(c) for “25” substitute
in sub-paragraph (1)(d), at the end, omit “or”;
at the end, insert—
the carrying on by a local authority (within the meaning given in article 3(1) of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 the preparation of a home report, which for these purposes means the documents prescribed for the purposes of sections 98, 99(1) or 101(2) of the Housing (Scotland) Act 2006
in sub-paragraph (3)—
in paragraph (a), for “£64,000” substitute “£100,000;
in paragraph (f), after “(r)” insert
In paragraph 3—
in sub-paragraph (1)—
at the appropriate place insert—
“
at the end of the definition of “the Capital Requirements Regulation insert
in sub-paragraph (3)—
for “the Banking Consolidation Directive” substitute
after “Part as”, insert
In Part 2 of Schedule 9 (supervisory authorities), in paragraph 4—
in sub-paragraph (1), omit paragraphs (b), (ea) and (f) (but not the “and” after paragraph (f));
in sub-paragraph (2)—
after paragraph (d), insert—
the Chartered Institute of Legal Executives;
omit paragraph (f).
In Schedule 7 to the Counter-Terrorism Act 2008
Unless otherwise defined, expressions used in this Schedule and in Directive 2015/849/EU of the European Parliament and of the Council of 20th May 2015 on the prevention of the use of the financial system for the purpose of money laundering or terrorist financing have the same meaning as in that Directive.
In section 1 (general customs functions of the Secretary of State) of the Borders, Citizenship and Immigration Act 2009
in paragraph (d), for “Directive 2005/60/EC on the prevention of the use of the financial system for the purpose of money laundering and terrorist financing”
in paragraph (e), for “Regulation (EC) No 1781/2006 on information on the payer accompanying transfers of funds”
In Schedule 17 (offences in relation to which a deferred prosecution arrangement may be entered into) to the Crime and Courts Act 2013
In Schedule 34 to the Finance Act 2014
In the Bank of England and Financial Services Act 2016—
in the italic heading above section 30, after “Money laundering” insert
in section 30 (politically exposed persons: money laundering)
in the heading, after “Money laundering” insert
in subsection (1) for “Secretary of State” substitute
Schedule 3 (other matters) to the Estate Agents (Undesirable Practices) (No 2) Order 1991
at the beginning of paragraph 2, insert
after paragraph 2, insert—
Paragraph 2 does not apply if the estate agent does not forward accurate details of the offer because the estate agent is unable to apply the customer due diligence measures required by regulation 28, and where relevant, those required by regulations 33, and 35 to 37 of the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 in relation to the offeror.
In the Schedule (description of persons and matters) to the Public Interest Disclosure (Prescribed Persons) Order (Northern Ireland) 1999
in the entry relating to Her Majesty's Revenue and Customs, in column 2, for “regulation 23(1)(d)(vii) of the Money Laundering Regulations 2007” substitute
in the appropriate place, insert the following entry—
National Crime Agency Matters relating to compliance with— the Terrorism Act 2000; the Proceeds of Crime Act 2002; or the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017
In the meaning of “relevant business” in regulation 2 (interpretation) of the Terrorism Act 2000 (Crown Servants and Regulators) Regulations 2001
In regulation 114(3)(b) in the Representation of the People (England and Wales) Regulations 2001
In regulation 113(3)(b) in the Representation of the People (Scotland) Regulations 2001
In article 72E(9) in the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001
Regulation 48 (bearer shares) of the Open-Ended Investment Companies Regulations 2001
the existing text is renumbered as paragraph (1);
in that paragraph (1), after “investment company” insert
after paragraph (1) insert—
An open-ended investment company authorised on or after the relevant date may not issue any bearer shares under paragraph (1), and any provision in the instrument of incorporation of such an open-ended investment company purporting to authorise it to do so is void. Paragraph (2) does not apply to an open-ended investment company if— an application for an authorisation order was made in relation to that open-ended investment company before the relevant date; and that application was not determined until a date on or after the relevant date.
In article 3(d) (disclosure of information by Lord Advocate and by Scottish Ministers) of the Proceeds of Crime Act 2002 (Disclosure of Information to and by Lord Advocate and Scottish Ministers) Order 2003
In article 2 of the Proceeds of Crime Act 2002 (Failure to Disclose Money Laundering: Specified Training) Order 2003
Part 1 of the Schedule to the Legislative and Regulatory Reform (Regulatory Functions) Order 2007
In the reference to “Her Majesty's Revenue and Customs” for “the Money Laundering Regulations 2007” substitute
In the reference to a “professional body” for “Schedule 3 to the Money Laundering Regulations 2007” substitute
In regulation 112(3)(b) of the Representation of the People (Northern Ireland) Regulations 2008
the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017;
In paragraph 2(6) of Schedule 3 (transitional and saving provisions) to the Transfer of Tribunal Functions and Revenue and Customs Appeals Order 2009
in paragraph (i) for “regulations 43 and 44 of the Money Laundering Regulations 2007” substitute
omit paragraph (j).
The Payment Services Regulations 2009
In regulation 2(1) (interpretation)
In regulation 6(7) (conditions for authorisation as a payment institution) for “the Money Laundering Regulations 2007” substitute
In regulation 13 (conditions for registration as a small payment institution)—
in sub-paragraph (a) of paragraph (4) for “the Money Laundering Regulations 2007” substitute
in paragraph (6) for “the Money Laundering Regulations 2007” substitute
In regulation 25(4)(a) (supervision of firms exercising passport rights) for “the Money Laundering Regulations 2007” substitute
In regulation 29 (use of agents)—
in sub-paragraph (a)(ii)(aa) of paragraph (3) for “the Money Laundering Regulations 2007” substitute
in subparagraph (c)(i) of paragraph (6) for “the Money Laundering Regulations 2007” substitute
In regulation 119(2) (duty to co-operate and exchange of information) for “regulation 49A of the Money Laundering Regulations 2007” substitute
In paragraph 6 of Schedule 2 (information to be included in or with an application for authorisation)—
for “the Money Laundering Regulations 2007” substitute
for “Regulation (EC) No 1781/2006 of the European Parliament and of the Council of 15 November 2006 on information on the payer accompanying transfers of funds”
In paragraph 3(d)(ii) in Part 1 of Schedule 5
In paragraph 10(h) in Part 2 of Schedule 5
In paragraph 7(b) of Schedule 2 (disclosure to a credit reference agency) of the Companies (Disclosure of Address) Regulations 2009
for “the Money Laundering Regulations 2007” substitute
for “Directive 2005/60/EC of the European Parliament and of the Council of 26 October 2005 on the prevention of the use of the financial system for the purpose of money laundering and terrorist financing”
In paragraph 7(b) of Schedule 2 (disclosure to a credit reference agency) of the Overseas Companies Regulations 2009
for “the Money Laundering Regulations 2007” substitute
for “Directive 2005/60/EC of the European Parliament and of the Council of 26 October 2005 on the prevention of the use of the financial system for the purpose of money laundering and terrorist financing” substitute
In regulation 23(1)(i) of Part 4 (criteria for the rejection of economic operators) to the Defence and Security Public Contracts Regulations 2011
The Electronic Money Regulations 2011
In regulation 2(1) (interpretation), in the definition of “money laundering directive” for “Directive 2005/60/EC of the European Parliament and of the Council of 26th October 2005 on the prevention of the use of the financial system for the purpose of money laundering and terrorist financing”
In regulation 6(7) (conditions for authorisation) for “the Money Laundering Regulations 2007” substitute
In regulation 13 (conditions for registration) —
in subparagraph (a) of paragraph (8) for “the Money Laundering Regulations 2007” substitute
in paragraph (10) for “the Money Laundering Regulations 2007” substitute
In regulation 30(4)(a) (supervision of firms exercising passport rights) for “the Money Laundering Regulations 2007” substitute
In regulation 34 (requirement for agents to be registered)—
in subparagraph (a)(ii)(aa) in paragraph (3) for “the Money Laundering Regulations 2007” substitute
in subparagraph (c)(i) in paragraph (6) for “the Money Laundering Regulations 2007” substitute
In regulation 71(2) (duty to cooperate and exchange information), in the words before sub-paragraph (a), for “regulation 49A of the Money Laundering Regulations 2007” substitute
In paragraph 6 of Schedule 1 (information to be included in or with an application for authorisation)—
for “the Money Laundering Regulations 2007” substitute
for “Regulation (EC) No 1781/2006 of the European Parliament and of the Council of 15 November 2006 on information on the payer accompanying transfers of funds”
Regulation 4 (review) of the Terrorism Act 2000 and Proceeds of Crime Act 2002 (Business in the Regulated Sector) (No 2) Order 2012
In paragraph (2) for “Directive 2005/60/EC of the European Parliament and of the Council on the protection of the use of the financial system for the purpose of money laundering and terrorist financing” substitute
In paragraph (4) for “the end of the period of five years beginning with the day on which this Order comes into force” substitute
In regulation 2(1)(d) (enforcement of powers) of the Payment to Treasury of Penalties (Enforcement Costs) Order 2013
In the Schedule (description of persons and matters) to the Public Interest Disclosure (Prescribed Persons) Order 2014
Matters relating to— corrupt individuals or companies offering or receiving bribes to secure a benefit for themselves or others; compliance with— the Terrorism Act 2000; the Proceeds of Crime Act 2002; or the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017
In paragraph 7(b) of Schedule 2 (disclosure to a credit reference agency) to the Companies (Disclosure of Date of Birth Information) Regulations 2015
for “the Money Laundering Regulations 2007” substitute
for “Directive 2005/60/EC of the European Parliament and of the Council of 26 October 2005 on the prevention of the use of the financial system for the purpose of money laundering and terrorist financing”
In regulation 25(1)(b) of Part 4 (refusal of application) in the Payment Accounts Regulation 2015
In paragraph 8(b) of Schedule 4 (disclosure to a credit reference agency) of the Register of People with Significant Control Regulations 2016
in paragraph (i) for “the Money Laundering Regulations 2007” substitute
in paragraph (iii) for “Directive 2005/60/EC of the European Parliament and of the Council on the prevention of the use of the financial system for the purpose of money laundering and terrorist financing” substitute
In Part 1 of the Schedule to the Economic Growth (Regulatory Functions) Order 2017