Section 20(1)

A relevant parent undertaking must— ensure that the policies, controls and procedures referred to in regulations 19(1) and 19A(1) apply— which is carrying out any activity in respect of which the relevant person is subject to these Regulations; to all its subsidiary undertakings, including subsidiary undertakings located outside the United Kingdom; and to any branches it has established outside the United Kingdom; establish and maintain throughout its group the policies, controls and procedures for data protection and sharing information for the purposes of preventing money laundering, terrorist financing and proliferation financing with other members of the group , including policies on the sharing of information about customers, customer accounts and transactions; regularly review and update the policies, controls and procedures applied and established under sub-paragraphs (a) and (b); maintain a record in writing of— the policies, controls and procedures established under sub-paragraphs (a) and (b); any changes to those policies, controls and procedures made as a result of the review and update required by sub-paragraph (c); and the steps taken to communicate those policies, controls and procedures, or any changes to them, to its subsidiary undertakings and branches.

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Source: legislation.gov.uk · retrieved 2026-09-04