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

Next

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)

Consolidation Status: Updated to reflect all known changes

	Introductory Text
	Part 1 Introduction (regs. 1-7)
In force	Regulation 1 Citation and commencement
In force	Regulation 2 Prescribed regulations
In force	Regulation 3 General interpretation
In force	Regulation 4 Meaning of business relationship
In force	Regulation 5 Meaning of beneficial owner: bodies corporate or partnership
In force	Regulation 6 Meaning of beneficial owner: trusts, similar arrangements and others
In force	Regulation 7 Supervisory authorities
	Part 2 Money Laundering and Terrorist Financing (regs. 8-26)
	Chapter 1 Application (regs. 8-15)
In force	Regulation 8 Application
In force	Regulation 9 Carrying on business in the United Kingdom
In force	Regulation 10 Credit institutions and financial institutions
In force	Regulation 11 Auditors and others
In force	Regulation 12 Independent legal professionals and trust or company service providers
In force	Regulation 13 Estate agents and letting agents
In force	Regulation 14 High value dealers, casinos, auction platforms and art market participants
In force	Regulation 14A Cryptoasset exchange providers and custodian wallet providers
In force	Regulation 15 Exclusions
	Chapter 2 Risk assessment and controls (regs. 16-25)
In force	Regulation 16 Risk assessment by the Treasury and Home Office
In force	Regulation 17 Risk assessment by supervisory authorities
In force	Regulation 18 Risk assessment by relevant persons
In force	Regulation 19 Policies, controls and procedures
In force	Regulation 20 Policies, controls and procedures: group level
In force	Regulation 21 Internal controls
Omitted	Regulation 22 Central contact points: electronic money issuers and payment service providers
In force	Regulation 23 Requirement on authorised person to inform the FCA
In force	Regulation 24 Training
In force	Regulation 25 Supervisory action
	Chapter 3 Ownership and Management Restrictions (reg. 26)
In force	Regulation 26 Prohibitions and approvals
	Part 3 Customer Due Diligence (regs. 27-38)
	Chapter 1 Customer due diligence: general (regs. 27-32)
In force	Regulation 27 Customer due diligence
In force	Regulation 28 Customer due diligence measures
In force	Regulation 29 Additional customer due diligence measures: credit institutions and financial institutions
In force	Regulation 30 Timing of verification
In force	Regulation 30A Requirement to report discrepancies in registers
In force	Regulation 31 Requirement to cease transactions etc
In force	Regulation 32 Exception for trustees of debt issues
	Chapter 2 Enhanced customer due diligence (regs. 33-36)
In force	Regulation 33 Obligation to apply enhanced customer due diligence
In force	Regulation 34 Enhanced customer due diligence: credit institutions, financial institutions and correspondent relationships
In force	Regulation 35 Enhanced customer due diligence: politically exposed persons
In force	Regulation 36 Politically exposed persons: other duties
	Chapter 3 Simplified customer due diligence (regs. 37-38)
In force	Regulation 37 Application of simplified customer due diligence
In force	Regulation 38 Electronic money
	Part 4 Reliance and Record-keeping (regs. 39-41)
In force	Regulation 39 Reliance
In force	Regulation 40 Record-keeping
In force	Regulation 41 Data Protection
	Part 5 Beneficial Ownership Information (regs. 42-45ZB)
In force	Regulation 42 Application of this Part
In force	Regulation 43 Corporate bodies: obligations
In force	Regulation 44 Trustee obligations
In force	Regulation 45 Register of beneficial ownership
In force	Regulation 45ZA Register of beneficial ownership: additional types of trust
In force	Regulation 45ZB Access to information on the register
	Part 5A Requests for information about accounts and safe-deposit boxes (regs. 45A-45H)
In force	Regulation 45A Duty to establish mechanism for requests
In force	Regulation 45B Duty to respond to requests for information
In force	Regulatioin 45C Requests for information about accounts
In force	Regulation 45D Requests for information about safe-deposit boxes
In force	Regulation 45E Requirements for making a request for information
In force	Regulation 45F Access to requests and responses, guidance and review
In force	Regulation 45G Record keeping
In force	Regulation 45H Interpretation
	Part 6 Money Laundering and Terrorist Financing: Supervision and Registration (regs. 46-60A)
	Chapter 1 Duties of supervisory authorities (regs. 46-52B)
In force	Regulation 46 Duties of supervisory authorities
In force	Regulation 46A Annual reports by self-regulatory organisations
In force	Regulation 47 Duties of supervisory authorities: information
In force	Regulation 48 Duties of the FCA: guidance on politically exposed persons
In force	Regulation 49 Duties of self-regulatory organisations
In force	Regulation 50 Duty to co-operate
In force	Regulation 51 Regulatory information
In force	Regulation 52 Disclosure by supervisory authorities
In force	Regulation 52A Obligation of confidentiality
In force	Regulation 52B Obligation of confidentiality: offence
	Chapter 2 Registration (regs. 53-60)
In force	Regulation 53 Interpretation
In force	Regulation 54 Duty to maintain registers of certain relevant persons
In force	Regulation 55 Power to maintain registers
In force	Regulation 56 Requirement to be registered
In force	Regulation 56A Transitional provision for existing cryptoasset businesses: requirement to register
In force	Regulation 57 Applications for registration in a register maintained under regulation 54 or 55
In force	Regulation 58 Fit and proper test
In force	Regulation 58A Fit and proper test: cryptoasset businesses
In force	Regulation 59 Determination of applications for registration under regulations 54 and 55
In force	Regulation 60 Cancellation and suspension of registration in a register under regulation 54 or 55
	Chapter 3 Disclosure obligation (reg. 60A)
In force	Regulation 60A Disclosure by cryptoasset businesses
	Part 7 Transfer of Funds (Information on the Payer) Regulations (regs. 61-64)
In force	Regulation 61 Interpretation
In force	Regulation 62 Transfer of funds supervisory authorities
In force	Regulation 63 Duties of transfer of funds supervisory authorities
In force	Regulation 64 Obligations of payment service providers
	Part 8 Information, Investigation and Directions (regs. 65-74C)
In force	Regulation 65 Interpretation
In force	Regulation 66 Power to require information
In force	Regulation 67 Requests in support of other authorities
In force	Regulation 68 Requests to other authorities
In force	Regulation 69 Entry, inspection of premises without a warrant etc
In force	Regulation 70 Entry of premises under warrant
In force	Regulation 71 Retention of documents taken under regulation 66 or 70
In force	Regulation 72 Provision of information and warrants: safeguards
In force	Regulation 73 Admissibility of statements
In force	Regulation 74 Powers of relevant officers
In force	Regulation 74A Reporting requirements: cryptoasset businesses
In force	Regulation 74B Report by a skilled person: cryptoasset businesses
In force	Regulation 74C Directions: cryptoasset businesses
	Part 9 Enforcement (regs. 75-92)
	Chapter 1 General (reg. 75)
In force	Regulation 75 Meaning of "relevant requirement"
	Chapter 2 Civil penalties and notices (regs. 76-85)
In force	Regulation 76 Power to impose civil penalties: fines and statements
In force	Regulation 77 Power to impose civil penalties: suspension and removal of authorisation
In force	Regulation 78 Power to impose civil penalties: prohibitions on management
In force	Regulation 79 Imposition of civil penalties
In force	Regulation 80 Injunctions
In force	Regulation 81 The FCA: disciplinary measures (procedure)
In force	Regulation 82 The FCA: procedure (general)
In force	Regulation 83 The Commissioners: disciplinary measures (procedure)
In force	Regulation 84 Publication: the FCA
In force	Regulation 85 Publication: the Commissioners
	Chapter 3 Criminal offences, penalties and proceedings etc. (regs. 86-92)
In force	Regulation 86 Criminal offence
In force	Regulation 87 Offences of prejudicing investigations
In force	Regulation 88 Information offences
In force	Regulation 89 Proceedings: general
In force	Regulation 90 Proceedings: jurisdiction
In force	Regulation 91 Proceedings: partnership or unincorporated association
In force	Regulation 92 Offence by bodies corporate, partnership or unincorporated association
	Part 10 Appeals (regs. 93-100)
	Chapter 1 Decisions of the FCA (reg. 93)
In force	Regulation 93 Appeals against decisions of the FCA
	Chapter 2 Decisions of the Commissioners (regs. 94-100)
In force	Regulation 94 Offer of review
In force	Regulation 95 Review by the Commissioners
In force	Regulation 96 Extensions of time
In force	Regulation 97 Review out of time
In force	Regulation 98 Nature of review etc
In force	Regulation 99 Appeals against decisions of the Commissioners
In force	Regulation 100 Appeals against decisions of the Commissioners: procedure
	Part 11 Miscellaneous Provisions (regs. 101-110)
In force	Regulation 101 Recovery of charges and penalties through the court
In force	Regulation 102 Costs of supervision
In force	Regulation 103 Obligations on public authorities
In force	Regulation 104 Suspicious activity disclosures
In force	Regulation 104A The United Kingdom's financial intelligence unit
In force	Regulation 105 Disclosure by the Commissioners
In force	Regulation 106 General restrictions
In force	Regulation 107 Transfers between the United Kingdom and the Channel Islands and the Isle of Man
In force	Regulation 108 Review
In force	Regulation 109 Consequential amendments
In force	Regulation 110 Revocation and saving provisions
In force	Schedule 1 Professional Bodies
In force	Schedule 2 Activities listed in points 2 to 12, 14 and 15 of Annex I to the Capital Requirements Directive
In force	Schedule 3 Relevant Offences
In force	Schedule 3A Excluded Trusts
In force	Schedule 3ZA High-Risk Third Countries
In force	Schedule 4 Supervisory Information
In force	Schedule 5 Connected Persons
In force	Schedule 6 Meaning of "relevant requirement"
In force	Schedule 6A The United Kingdom's Financial Intelligence Unit
	Schedule 7 Consequential Amendments
In force	Schedule 7, Part 1 Consequential Amendments to Primary Legislation
In force	Schedule 7, Part 2 Consequential Amendments to Secondary Legislation
	Signature
	Explanatory Note
	Explanatory Memorandum

Next

Log in

Username *

Password *

Remember me

• Request new password

Log in

Request a trial

The best way to experience Better Regulation is to try it - free and without obligation.

Take a trial