(1) Each supervisory authority must identify and assess the international and domestic risks of money laundering and terrorist financing to which those relevant persons for which it is the supervisory authority ("its own sector") are subject.
(2) In carrying out the risk assessment required under paragraph (1), the supervisory authority must take into account -
(a) [deleted]
(b) [deleted]
(c) the report prepared by the Treasury and the Home Office under regulation 16(6); and
(d) information made available by the Treasury and the Home Office under regulation 16(8).
(3) A supervisory authority must keep an up-to-date record in writing of all the steps it has taken under paragraph (1).
(4) Each supervisory authority must develop and record in writing risk profiles for each relevant person in its own sector.
(5) A supervisory authority may prepare a single risk profile under paragraph (4) in relation to two or more relevant persons in its sector, if -
(a) the relevant persons share similar
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