UK Statutory Instrument SI 2017/1301 United Kingdom

The Oversight of Professional Body Anti-Money Laundering and Counter Terrorist Financing Supervision Regulations 2017

Read it on legislation.gov.uk (opens in a new tab)
Status
In Force
Penalty ceiling
Imprisonment 1 of 2 obligations carry up to 2 years imprisonment. 1 has no criminal penalty — flagged in the list below.

Does it bind you?

Business-side roles with duties under this instrument.

Any Person1

Plus 1 duty on the regulator, Crown ministers and public bodies — folded into the section list below.

Other Acts binding the same actors

If a role above is yours, these are the other instruments that most often bind it.

Any Person — also bound by 2340 other Acts

What it requires

Regulations creating concrete business duties or carrying penalties, grouped as the instrument is structured. Titles link to the source text — blue means you’re leaving for legislation.gov.uk.

s.003 Duties of the FCA Regulated
Other duties (1) — Crown / regulator
  • FCA must ensure self-regulatory organisations comply with AML supervision requirementsStatutory regulator
s.023 Offences Imprisonment
  • Unlawfully disclose or publish confidential informationAny Person
30 other provisions — procedural and definitional
s.001 Citation, commencement and extent
s.002 Interpretation
s.004 Application to be added to Schedule 1 to the MLR
s.005 Determination of applications
s.006 Interpretation
s.007 Power to require information
s.008 Retention of documents provided under regulation 7
s.009 Provision of information: safeguards
s.010 Admissibility of statements
s.011 Confidential information
s.012 Disclosure
s.013 Report by a skilled person
s.014 Directions
s.015 Interpretation
s.016 Public censure
s.017 Recommendation for removal from Schedule 1 to the MLR
s.018 Application of one or more measures
s.019 Procedure for disciplinary measures
s.020 Procedure (general)
s.021 Publication
s.022 Appeals against decisions of the FCA
s.024 Proceedings
s.025 Prescribed regulations
s.026 Recovery of charges through the court
s.027 Costs of supervision
s.028 Consequential amendment of the Solicitors (Scotland) Act 1980
s.029 Financial Conduct Authority
s.030 Notices
s.031 Application to the Crown
s.032 Review

Help complying

Guvnor’s practical routes through this instrument.

Ongoing compliance for law firms

Learning path for maintaining regulatory compliance at an authorised law firm: annual renewal cycle, COLP and COFA reporting, client account management, AML …

Start a law firm in England and Wales

End-to-end learning path for setting up a law firm: choosing entity type, SRA authorisation, appointing COLP and COFA, professional indemnity insurance, client …

AML compliance for legal services

Learning path for law firms implementing anti-money laundering compliance: firm-wide risk assessment, client due diligence, source of funds verification, legal professional privilege …
2 more guides that reference this instrument
Anti-money laundering compliance for law firms Legal professional privilege and SAR reporting: when the exemption applies

Duty extraction and severity labels are Guvnor’s analysis of the instrument, not the instrument itself. Always verify against the linked source text.