Version status: In force | Document consolidation status: Updated to reflect all known changes

Published date: 22 June 2017

Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 [SI 2017 No. 692] (MLRs 2017)

	Introductory Text
	Part 1 Introduction (regs. 1-7)
	Regulation 1 Citation and commencement
	Regulation 2 Prescribed regulations
	Regulation 3 General interpretation
	Regulation 4 Meaning of business relationship
	Regulation 5 Meaning of beneficial owner: bodies corporate or partnership
	Regulation 6 Meaning of beneficial owner: trusts, similar arrangements and others
	Regulation 7 Supervisory authorities
	Part 2 Money Laundering and Terrorist Financing (regs. 8-26)
	Chapter 1 Application (regs. 8-15)
	Regulation 8 Application
	Regulation 9 Carrying on business in the United Kingdom
	Regulation 10 Credit institutions and financial institutions
	Regulation 11 Auditors and others
	Regulation 12 Independent legal professionals and trust or company service providers
	Regulation 13 Estate agents and letting agents
	Regulation 14 High value dealers, casinos, auction platforms and art market participants
	Regulation 14A Cryptoasset exchange providers and custodian wallet providers
	Regulation 15 Exclusions
	Chapter 2 Risk assessment and controls (regs. 16-25)
	Regulation 16 Risk assessment by the Treasury and Home Office
	Regulation 16A Risk assessment by the Treasury
	Regulation 17 Risk assessment by supervisory authorities
	Regulation 18 Risk assessment by relevant persons
	Regulation 18A Risk assessment by relevant persons in relation to proliferation financing
	Regulation 19 Policies, controls and procedures
	Regulation 19A Policies, controls and procedures in relation to proliferation financing
	Regulation 20 Policies, controls and procedures: group level
	Regulation 21 Internal controls
	Regulation 22 Central contact points: electronic money issuers and payment service providers
	Regulation 23 Requirement on authorised person to inform the FCA
	Regulation 24 Training
	Regulation 25 Supervisory action
	Chapter 3 Ownership and Management Restrictions (reg. 26)
	Regulation 26 Prohibitions and approvals
	Part 3 Customer Due Diligence (regs. 27-38)
	Chapter 1 Customer due diligence: general (regs. 27-32)
	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 Requirement to cease transactions etc
	Regulation 32 Exception for trustees of debt issues
	Chapter 2 Enhanced customer due diligence (regs. 33-36)
	Regulation 33 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 36 Politically exposed persons: other duties
	Chapter 3 Simplified customer due diligence (regs. 37-38)
	Regulation 37 Application of simplified customer due diligence
	Regulation 38 Electronic money
	Part 4 Reliance and Record-keeping (regs. 39-41)
	Regulation 39 Reliance
	Regulation 40 Record-keeping
	Regulation 41 Data Protection
	Part 5 Beneficial Ownership Information (regs. 42-45ZB)
	Regulation 42 Application of this Part
	Regulation 43 Corporate bodies: obligations
	Regulation 44 Trustee obligations
	Regulation 45 Register of beneficial ownership
	Regulation 45ZA Register of beneficial ownership: additional types of trust
	Regulation 45ZB Access to information on the register
	Part 5A Requests for information about accounts and safe-deposit boxes (regs. 45A-45H)
	Regulation 45A Duty to establish mechanism for requests
	Regulation 45B Duty to respond to requests for information
	Regulation 45C Requests for information about accounts
	Regulation 45D Requests for information about safe-deposit boxes
	Regulation 45E Requirements for making a request for information
	Regulation 45F Access to requests and responses, guidance and review
	Regulation 45G Record keeping
	Regulation 45H Interpretation
	Part 6 Money Laundering and Terrorist Financing: Supervision and Registration (regs. 46-60B)
	Chapter 1 Duties of supervisory authorities (regs. 46-52B)
	Regulation 46 Duties of supervisory authorities
	Regulation 46A Annual reports by self-regulatory organisations
	Regulation 47 Duties of supervisory authorities: information
	Regulation 48 Duties of the FCA: guidance on politically exposed persons
	Regulation 49 Duties of self-regulatory organisations
	Regulation 50 Duty to co-operate
	Regulation 51 Regulatory information
	Regulation 52 Disclosure by supervisory authorities and other relevant authorities
	Regulation 52A Obligation of confidentiality
	Regulation 52B Obligation of confidentiality: offence
	Chapter 2 Registration (regs. 53-60)
	Regulation 53 Interpretation
	Regulation 54 Duty to maintain registers of certain relevant persons
	Regulation 55 Power to maintain registers
	Regulation 56 Requirement to be registered
	Regulation 56A Transitional provision for existing cryptoasset businesses: requirement to register
	Regulation 57 Applications for registration in a register maintained under regulation 54 or 55
	Regulation 58 Fit and proper test
	Regulation 58A Fit and proper test: cryptoasset businesses
	Regulation 59 Determination of applications for registration under regulations 54 and 55
	Regulation 60 Cancellation and suspension of registration in a register under regulation 54 or 55
	Chapter 3 Disclosure obligation (regs. 60A-60B)
	Regulation 60A Disclosure by cryptoasset businesses
	Regulation 60B Changes in control of registered cryptoasset businesses
	Part 7 Transfer of Funds (Information on the Payer) Regulations (regs. 61-64)
	Regulation 61 Interpretation
	Regulation 62 Transfer of funds supervisory authorities
	Regulation 63 Duties of transfer of funds supervisory authorities
	Regulation 64 Obligations of payment service providers
	Part 7A Cryptoasset Transfers (regs. 64A-64H)
	Chapter 1 Application and interpretation(regs. 64A-64B)
	Regulation 64A Application of this Part
	Regulation 64B Interpretation
	Chapter 2 Inter-cryptoasset business transfers (regs. 64C-64F)
	Regulation 64C Information accompanying an inter-cryptoasset business transfer
	Regulation 64D Missing or non-corresponding information: the cryptoasset business of a beneficiary
	Regulation 64E Missing information: intermediaries
	Regulation 64F Retention of information with an inter-cryptoasset business transfer: intermediaries
	Chapter 3 Unhosted wallet transfers (reg. 64G)
	Regulation 64G Requesting information: unhosted wallet transfers and cryptoasset businesses
	Chapter 4 Provision of information to law enforcement authorities (reg. 64H)
	Regulation 64H Provision of information
	Part 8 Information, Investigation and Directions (regs. 65-74C)
	Regulation 65 Interpretation
	Regulation 66 Power to require information
	Regulation 67 Requests in support of other authorities
	Regulation 68 Requests to other authorities
	Regulation 69 Entry, inspection of premises without a warrant etc
	Regulation 70 Entry of premises under warrant
	Regulation 71 Retention of documents taken under regulation 66 or 70
	Regulation 72 Provision of information and warrants: safeguards
	Regulation 73 Admissibility of statements
	Regulation 74 Powers of relevant officers
	Regulation 74A Reporting requirements: Annex 1 financial institutions
	Regulation 74B Report by a skilled person: Annex 1 financial institutions
	Regulation 74C Directions: Annex 1 financial institutions
	Part 9 Enforcement (regs. 75-92)
	Chapter 1 General (reg. 75)
	Regulation 75 Meaning of "relevant requirement"
	Chapter 2 Civil penalties and notices (regs. 76-85)
	Regulation 76 Power to impose civil penalties: fines and statements
	Regulation 77 Power to impose civil penalties: suspension and removal of authorisation
	Regulation 78 Power to impose civil penalties: prohibitions on management
	Regulation 79 Imposition of civil penalties
	Regulation 80 Injunctions
	Regulation 81 The FCA: disciplinary measures (procedure)
	Regulation 82 The FCA: procedure (general)
	Regulation 83 The Commissioners: disciplinary measures (procedure)
	Regulation 84 Publication: the FCA
	Regulation 85 Publication: the Commissioners
	Chapter 3 Criminal offences, penalties and proceedings etc. (regs. 86-92)
	Regulation 86 Criminal offence
	Regulation 87 Offences of prejudicing investigations
	Regulation 88 Information offences
	Regulation 89 Proceedings: general
	Regulation 90 Proceedings: jurisdiction
	Regulation 91 Proceedings: partnership or unincorporated association
	Regulation 92 Offence by bodies corporate, partnership or unincorporated association
	Part 10 Appeals (regs. 93-100)
	Chapter 1 Decisions of the FCA (reg. 93)
	Regulation 93 Appeals against decisions of the FCA
	Chapter 2 Decisions of the Commissioners (regs. 94-100)
	Regulation 94 Offer of review
	Regulation 95 Review by the Commissioners
	Regulation 96 Extensions of time
	Regulation 97 Review out of time
	Regulation 98 Nature of review etc
	Regulation 99 Appeals against decisions of the Commissioners
	Regulation 100 Appeals against decisions of the Commissioners: procedure
	Part 11 Miscellaneous Provisions (regs. 101-110)
	Regulation 101 Recovery of charges and penalties through the court
	Regulation 102 Costs of supervision
	Regulation 103 Obligations on public authorities
	Regulation 104 Suspicious activity disclosures
	Regulation 104A The United Kingdom's financial intelligence unit
	Regulation 105 Disclosure by the Commissioners
	Regulation 106 General restrictions
	Regulation 107 Transfers between the United Kingdom and the Channel Islands and the Isle of Man
	Regulation 108 Review
	Regulation 109 Consequential amendments
	Regulation 110 Revocation and saving provisions
	Schedule 1 Professional Bodies
	Schedule 2 Listed Activities
	Schedule 3 Relevant Offences
	Schedule 3AZA Material Discrepancies
	Schedule 3A Excluded Trusts
	Schedule 3ZA High-Risk Third Countries
	Schedule 4 Supervisory Information
	Schedule 5 Connected Persons
	Schedule 6 Meaning of "relevant requirement"
	Schedule 6A The United Kingdom's Financial Intelligence Unit
	Schedule 6B Changes in Control of Registered Cryptoasset Businesses
	Schedule 7 Consequential Amendments
	Schedule 7, Part 1 Consequential Amendments to Primary Legislation (paras. 1-11)
	Schedule 7, Part 2 Consequential Amendments to Secondary Legislation (paras. 12-35)
	Signature
	Explanatory Note
	Explanatory Memorandum