Section 34(7)

The FCA may refuse to include the agent on the register only if— it has not received the information referred to in paragraph (3)(a), or is not satisfied that such information is correct; it is not satisfied that the directors and persons responsible for the management of the agent are fit and proper persons; it has reasonable grounds to suspect that, in connection with the provision of services through the agent— money laundering or terrorist financing within the meaning of the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 is taking place, has taken place, or has been attempted; or the risk of such activities taking place would be increased.

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