The FCA has published the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017: MLR individual form together with explanatory notes.
The FCA has also updated its money laundering registration webpage for those firms that need to register with it as an ‘Annex I financial institution’ under the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (MLRs 2017).
The MLR individual form is critically important to the FCA’s assessment of the fitness and propriety of the MLR individual. The explanatory notes gives examples of persons that are required to complete an MLR individual form:
- the sole proprietor of the business;
- a partner in the business;
- a director of the business;
- the senior manager responsible for compliance with the MLRs 2017;
- the nominated officer for reporting Suspicious Activity Reports to the National Crime Agency under Regulation 21(3) of the MLRs 2017;
- a beneficial owner, who owns or controls more than 25% of the shares or voting rights in the company; and
- any other person performing a role of similar influence or responsibility.
View MLR individual form, 8 November 2017
View MLR individual firm – guidance notes, 8 November 2017
View Money laundering registration, 8 November 2017
