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

Duties of supervisory authorities: information U.K.

47.—(1) A supervisory authority must, in any way it considers appropriate, make up-to-date information on money laundering and terrorist financing available to those relevant persons which it supervises (“its own sector”).

(2) The information referred to in paragraph (1) must include the following—

(a) information on the money laundering and terrorist financing practices considered by the supervisory authority to apply to its own sector;

(b) a description of indications which may suggest that a transfer of criminal funds is taking place in its own sector;

(c) a description of the circumstances in which the supervisory authority considers that there is a high risk of money laundering or terrorist financing.

(3) The information referred to in paragraph (1) must also include information from the following sources which the supervisory authority considers is relevant to its own sector—

(a) reports drawn up by the European Commission under Article 6.1 of the fourth money laundering directive;

(b) recommendations made by the European Commission under Article 6.4 of that directive (unless the Treasury and the Home Office notify the supervisory authority that a recommendation will not be followed);

(c) joint opinions issued by the European Supervisory Authorities under Article 6.5 of that directive;

(d) high-risk third countries identified in delegated acts adopted by the European Commission under Article 9.2 of the fourth money laundering directive;

(e) guidelines issued by the European Supervisory Authorities under Articles 17, 18.4, or 48.10 of that directive;

(f) the report prepared by the Treasury and the Home Office under regulation 16(6);

(g) any relevant information made available by the Treasury and the Home Office under regulation 16(8);

(h) any relevant information published by the Director General of the NCA under section 4(9) (operations) or 6 (duty to publish information) of the Crime and Courts Act 2013 M1 .

Marginal Citations

M1 2013 c.22.