The Financial Services Act 2021 (Prudential Regulation of Credit Institutions and Investment Firms) (Consequential Amendments and Miscellaneous Provisions) Regulations 2022

Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017

12.—(1) The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017(1) are amended as follows.

(2) In regulation 3(1) (general interpretation), omit the definition of “the capital requirements directive”.

(3) In regulation 10(2) (credit institutions and financial institutions)—

(a) in paragraph (3)(c), omit “Annex 1 to the capital requirements directive as set out in”;

(b) in paragraph (4)(a), omit “Annex 1 to the capital requirements directive as set out in”.

(4) In Schedule 2 (activities listed in points 2 to 12, 14 and 15 of Annex 1 to the Capital Requirements Directive)—

(a) for the heading substitute “Listed Activities”;

(b) omit “listed in points 2 to 12, 14 and 15 of Annex 1 to the Capital Requirements Directive”;

(c) for point 4 substitute—

“Payment service as defined in regulation 2(1) of the Payment Services Regulations 2017(3).”;

(d) in point 5, omit “insofar as such activity is not covered by point 4”.

(5) In paragraph 13 of Schedule 3A(4) (capital markets etc.), omit “Annex 1 to the capital requirements directive as set out in”.

(1)

S.I. 2017/692.

(2)

Relevant amendments were made to regulation 10 by S.I. 2019/253.

(3)

Regulation 2 was amended by S.I. 2010/2993, S.I. 2013/1881, S.I. 2017/1173, S.I. 2018/1201 and S.I. 2021/1306.

(4)

Schedule 3A was inserted by S.I. 2020/991.