1. Financial Crime & AML/CFT
  2. Legislation (UK)
  3. Statutory Instruments
  4. 2017
Date-stamp loading
  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: Currently being consolidated by Insurance Distribution (Regulated Activities and Miscellaneous Amendments) Regulations 2024 [SI 2024 No. 1239]
Comparing proposed amendment...
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 16A Risk assessment by the Treasury
In force
 Regulation 17 Risk assessment by supervisory authorities
In force
 Regulation 18 Risk assessment by relevant persons
In force
 Regulation 18A Risk assessment by relevant persons in relation to proliferation financing
In force
 Regulation 19 Policies, controls and procedures
In force
 Regulation 19A Policies, controls and procedures in relation to proliferation financing
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)
Omitted
 Regulation 45A Duty to establish mechanism for requests
Omitted
 Regulation 45B Duty to respond to requests for information
Omitted
 Regulation 45C Requests for information about accounts
Omitted
 Regulation 45D Requests for information about safe-deposit boxes
Omitted
 Regulation 45E Requirements for making a request for information
Omitted
 Regulation 45F Access to requests and responses, guidance and review
Omitted
 Regulation 45G Record keeping
Omitted
 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)
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 and other relevant 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 (regs. 60A-60B)
In force
 Regulation 60A Disclosure by cryptoasset businesses
In force
 Regulation 60B Changes in control of registered 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 7A Cryptoasset Transfers (regs. 64A-64H)
Chapter 1 Application and interpretation(regs. 64A-64B)
In force
 Regulation 64A Application of this Part
In force
 Regulation 64B Interpretation
Chapter 2 Inter-cryptoasset business transfers (regs. 64C-64F)
In force
 Regulation 64C Information accompanying an inter-cryptoasset business transfer
In force
 Regulation 64D Missing or non-corresponding information: the cryptoasset business of a beneficiary
In force
 Regulation 64E Missing information: intermediaries
In force
 Regulation 64F Retention of information with an inter-cryptoasset business transfer: intermediaries
Chapter 3 Unhosted wallet transfers (reg. 64G)
In force
 Regulation 64G Requesting information: unhosted wallet transfers and cryptoasset businesses
Chapter 4 Provision of information to law enforcement authorities (reg. 64H)
In force
 Regulation 64H Provision of information
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: Annex 1 financial institutions
In force
 Regulation 74B Report by a skilled person: Annex 1 financial institutions
In force
 Regulation 74C Directions: Annex 1 financial institutions
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 Listed Activities
In force
 Schedule 3 Relevant Offences
In force
 Schedule 3AZA Material Discrepancies
In force
 Schedule 3A Excluded Trusts
Omitted
 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
In force
 Schedule 6B Changes in Control of Registered Cryptoasset Businesses
Schedule 7 Consequential Amendments
In force
 Schedule 7, Part 1 Consequential Amendments to Primary Legislation (paras. 1-11)
In force
 Schedule 7, Part 2 Consequential Amendments to Secondary Legislation (paras. 12-35)
Signature
Explanatory Note
Explanatory Memorandum
Next