Part 2: Money laundering and terrorist financing - risk assessment and controlsU.K.
This
adran has no associated
Memorandwm Esboniadol
5.—(1) In regulation 16—
(a)paragraph (5) is omitted;
(b)in paragraph (7), omit sub-paragraphs (c), (d) and (e).
(2) In regulation 17, in paragraph (2), omit sub-paragraphs (a) and (b).
(3) In regulation 20—
(a)omit paragraph (2);
(b)after paragraph (5), insert—
“(6) The FCA may make technical standards specifying—
(a)what additional measures are required from credit institutions and financial institutions under paragraph (4); and
(b)the minimum action to be taken by credit institutions and financial institutions where paragraph (4) applies.”.
(4) Omit regulation 22.
Commencement Information
I1Reg. 5 in force at 31.12.2020 on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(2)