(This note is not part of the Regulations)
These Regulations give the Financial Conduct Authority ("FCA") powers to supervise professional body anti-money laundering supervisors ("self-regulatory organisations"), in relation to compliance with anti-money laundering and counter terrorist financing requirements.
The requirements derive from the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (S.I. 2017/692) ("the MLR") and the Fourth Money Laundering Directive 2015/849/EU of the European Parliament and of the Council of 20th May 2015 on the prevention of the use of the financial system for the purpose of money laundering or terrorist financing (OJ L 141, 05.06.2015, p.73) ("4MLD"). Article 48 of 4MLD requires Member States to ensure that competent authorities monitor effectively and take necessary measures to ensure compliance with 4MLD.
Part 1 (introduction) sets out the definitions and meanings that apply throughout these Regulat
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