Section 58(4)

If paragraph (3) does not apply, the registering authority must have regard to the following factors in determining the question in paragraph (1)— whether the applicant has consistently failed to comply with the requirements of— these Regulations; the Money Laundering Regulations 2001 , the Money Laundering Regulations 2003 , or the Money Laundering Regulations 2007 ; ... the risk that the applicant's business may be used for money laundering or terrorist financing; and whether the applicant, and any officer, manager or beneficial owner of the applicant, has adequate skills and experience and has acted and may be expected to act with probity.

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