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The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017

law · United Kingdom · uksi/2017/692

1221 provisions

Defined terms · All instruments

1 Citation and commencement
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2 Prescribed regulations
3 General interpretation
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4 Meaning of business relationship
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5 Meaning of beneficial owner: bodies corporate or partnership
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6 Meaning of beneficial owner: trusts, similar arrangements and others
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7 Supervisory authorities
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8 Application
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3A
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9 Carrying on business in the United Kingdom
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10 Credit institutions and financial institutions
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11 Auditors and others
12 Independent legal professionals and trust or company service providers
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13 Estate agents and letting agents
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14 High value dealers, casinos, auction platforms and art market participants
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14A Cryptoasset exchange providers and custodian wallet providers
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15 Exclusions
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16 Risk assessment by the Treasury and Home Office
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6A
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16A Risk assessment by the Treasury
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17 Risk assessment by supervisory authorities
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18 Risk assessment by relevant persons
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18A Risk assessment by relevant persons in relation to proliferation financing
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19 Policies, controls and procedures
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19A Policies, controls and procedures in relation to proliferation financing
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20 Policies, controls and procedures: group level
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21 Internal controls
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22 Central contact points: electronic money issuers and payment service providers
23 Requirement on authorised person to inform the FCA
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3A
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24 Training
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25 Supervisory action
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13A
13B
13C
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26 Prohibitions and approvals
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3A
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27 Customer due diligence
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7A
7B
7C
7D
7E
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28 Customer due diligence measures
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3A
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9A
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29 Additional customer due diligence measures: credit institutions and financial institutions
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30 Timing of verification
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30ZA Insolvent bank customers
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30A Requirement to report discrepancies in registers
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1A
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2A
2B
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8A
8B
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31 Requirement to cease transactions etc
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32 Exception for trustees of debt issues
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33 Obligation to apply enhanced customer due diligence
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3A
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4A
4B
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34 Enhanced customer due diligence: credit institutions, financial institutions and correspondent relationships
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35 Enhanced customer due diligence: politically exposed persons
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3A
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36 Politically exposed persons: other duties
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37 Application of simplified customer due diligence
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38 Electronic money
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4A
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39 Reliance
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40 Record-keeping
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41 Data Protection
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42 Application of this Part
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43 Corporate bodies: obligations
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44 Trustee obligations
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45 Register of beneficial ownership
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10A
10B
10C
10D
10E
10F
10G
10H
10I
10J
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45ZA Register of beneficial ownership: additional types of trust
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45ZB Access to information on the register
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45A Duty to establish mechanism for requests
45B Duty to respond to requests for information
45C Requests for information about accounts
45D Requests for information about safe-deposit boxes
45E Requirements for making a request for information
45F Access to requests and responses, guidance and review
45G Record keeping
45H Interpretation
46 Duties of supervisory authorities
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46A Annual reports by self-regulatory organisations
47 Duties of supervisory authorities: information
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48 Duties of the FCA: guidance on politically exposed persons
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49 Duties of self-regulatory organisations
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50 Duty to co-operate
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51 Regulatory information
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52 Disclosure by supervisory authorities and other relevant authorities
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1B
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52A Obligation of confidentiality
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3A
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52B Obligation of confidentiality: offence
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53 Interpretation
54 Duty to maintain registers of certain relevant persons
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55 Power to maintain registers
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56 Requirement to be registered
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56A Transitional provision for existing cryptoasset businesses: requirement to register
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56B Requirement that cryptoasset firms acting as cryptoasset exchange providers or custodian wallet providers inform the FCA
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57 Applications for registration in a register maintained under regulation 54 or 55
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58 Fit and proper test
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58A Fit and proper test: cryptoasset businesses
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59 Determination of applications for registration under regulations 54 and 55
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3A
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60 Cancellation and suspension of registration in a register under regulation 54 or 55
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60A Disclosure by cryptoasset businesses
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60B Changes in control of registered cryptoasset businesses
61 Interpretation
62 Transfer of funds supervisory authorities
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63 Duties of transfer of funds supervisory authorities
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64 Obligations of payment service providers
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64A Application of this Part
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64B Interpretation
64C Information accompanying an inter-cryptoasset business transfer
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64D Missing or non-corresponding information: the cryptoasset business of a beneficiary
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64E Missing information: intermediaries
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64F Retention of information with an inter-cryptoasset business transfer: intermediaries
64G Requesting information: unhosted wallet transfers and cryptoasset businesses
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64H Provision of information
65 Interpretation
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66 Power to require information
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67 Requests in support of other authorities
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68 Requests to other authorities
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69 Entry, inspection of premises without a warrant etc
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70 Entry of premises under warrant
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71 Retention of documents taken under regulation 66 or 70
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72 Provision of information and warrants: safeguards
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73 Admissibility of statements
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74 Powers of relevant officers
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74A Reporting requirements: cryptoasset businesses
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74B Report by a skilled person: cryptoasset businesses
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74C Directions: cryptoasset businesses
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75 Meaning of “relevant requirement”
76 Power to impose civil penalties: fines and statements
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77 Power to impose civil penalties: suspension and removal of authorisation
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78 Power to impose civil penalties: prohibitions on management
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79 Imposition of civil penalties
80 Injunctions
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81 The FCA: disciplinary measures (procedure)
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82 The FCA: procedure (general)
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83 The Commissioners: disciplinary measures (procedure)
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84 Publication: the FCA
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85 Publication: the Commissioners
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86 Criminal offence
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87 Offences of prejudicing investigations
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88 Information offences
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89 Proceedings: general
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90 Proceedings: jurisdiction
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91 Proceedings: partnership or unincorporated association
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92 Offence by bodies corporate, partnership or unincorporated association
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93 Appeals against decisions of the FCA
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94 Offer of review
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95 Review by the Commissioners
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96 Extensions of time
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97 Review out of time
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98 Nature of review etc
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99 Appeals against decisions of the Commissioners
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100 Appeals against decisions of the Commissioners: procedure
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101 Recovery of charges and penalties through the court
102 Costs of supervision
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103 Obligations on public authorities
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104 Suspicious activity disclosures
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104A The United Kingdom’s financial intelligence unit
105 Disclosure by the Commissioners
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106 General restrictions
107 Transfers between the United Kingdom and the Channel Islands and the Isle of Man
108 Review
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109 Consequential amendments
110 Revocation and saving provisions
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1 Legislative Trusts
1A Legislative Trusts
2 Trusts imposed by court order
3 Pension scheme trusts
4 Trusts of insurance policies
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5 Charitable trusts
6 Pilot trusts
6A Bank accounts for minors etc
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7 Trusts having effect on death
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8 Trusts having effect on death
8A Trusts having effect on death
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9 Co-ownership
9B Revocation of survivorship destination trusts
10 Financial markets infrastructure
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11 Professional services
12 Client money etc.
13 Capital markets etc.
14 Commercial transactions
15 Registration of assets
16 Trusts meeting legislative requirements
23 Public authorities
23A General exclusion
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24 Interpretation
9A
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1 Corporate Bodies
2 Partnerships
3 Unincorporated Associations
4 Individuals
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1 Interpretation
2 Reports to the National Crime Agency
3 Co-operation
4 Provision of information in response to external requests
5 Provision of information in response to external requests
6 Provision of information in response to external requests
7 Provision of information in response to external requests
8 Provision of information in response to external requests
9 Conditions and restrictions on provision or further dissemination of relevant information
10 Conditions and restrictions on provision or further dissemination of relevant information
11 Conditions and restrictions on provision or further dissemination of relevant information
12 Conditions and restrictions on provision or further dissemination of relevant information
13 Requests for information by the NCA to foreign FIUs
14 Requests for information by the NCA to foreign FIUs
15 Requests for information by the NCA to foreign FIUs
16 Conditions and restrictions on use of information received by the NCA from foreign FIUs
1 Modifications: Control over registered cryptoasset businesses registered before 25th October 2027
2 Modifications: Control over registered cryptoasset businesses registered before 25th October 2027
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3ZA
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3 Modifications: Control over registered cryptoasset businesses registered on and after 25 October 2027
4 Modifications: Control over registered cryptoasset businesses registered on and after 25 October 2027
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5 Interpretation
1 Solicitors (Scotland) Act 1980
1D
2 Northern Ireland Act 1998
3 Financial Services and Markets Act 2000
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4 Terrorism Act 2000
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5 Criminal Justice and Police Act 2001
6 Proceeds of Crime Act 2002
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7 Counter-Terrorism Act 2008
3
8 Borders, Citizenship and Immigration Act 2009
9 Crime and Courts Act 2013
10 Finance Act 2014
11 Bank of England and Financial Services Act 2016
12 Estate Agents (Undesirable Practices) (No 2) Order 1991
13 Public Interest Disclosure (Prescribed Persons) Order (Northern Ireland) 1999
14 Terrorism Act 2000 (Crown Servants and Regulators) Regulations 2001
15 Representation of the People (England and Wales) Regulations 2001
16 Representation of the People (Scotland) Regulations 2001
17 Financial Services and Markets Act 2000 (Regulated Activities) Order 2001
18 Open-Ended Investment Companies Regulations 2001
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3
19 Proceeds of Crime Act 2002 (Disclosure of information to and by Lord Advocate and Scottish Ministers) Order 2003
20 Proceeds of Crime Act 2002 (Failure to Disclose Money Laundering: Specified Training) Order 2003
21 Legislative and Regulatory Reform (Regulatory Functions) Order 2007
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22 Representation of the People (Northern Ireland) Regulations 2008
23 Transfer of Tribunal Functions and Revenue and Customs Appeals Order 2009
24 Payment Services Regulations 2009
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25 Companies (Disclosure of Address) Regulations 2009
26 Overseas Companies Regulations 2009
27 Defence and Security Public Contracts Regulations 2011
28 Electronic Money Regulations 2011
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29 Terrorism Act 2000 and Proceeds of Crime Act 2002 (Business in the Regulated Sector) (No 2) Order 2012
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30 Payment to Treasury of Penalties (Enforcement Costs) Order 2013
31 Public Interest Disclosure (Prescribed Persons) Order 2014
32 Companies (Disclosure of Date of Birth Information) Regulations 2015
33 Payment Accounts Regulations 2015
34 Register of People with Significant Control Regulations 2016
35 Economic Growth (Regulatory Functions) Order 2017