| Guvnor

Status: In Force
Penalty ceiling: Prosecution 1 of 4 obligations carry an unlimited fine. 3 have no criminal penalty — flagged in the list below.

Does it bind you?

Business-side roles with duties under this instrument.

Any Person2 Responsible Person1 Financial Services Firm1

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

Human Medicines Regulations 2012 184 duties

Merchant Shipping Act 1995 144 duties

Insolvency (England and Wales) Rules 2016 104 duties

Communications Act 2003 92 duties

Road Traffic Act 1988 92 duties

Responsible Person — also bound by 108 other Acts

MH(CT)(S)A 2003 30 duties

Climate Change Levy (General) Regulations 2001 24 duties

Offshore Installations (Offshore Safety Directive) (Safety Case ) Regulations 2015 21 duties

The Offshore Installations (Prevention of Fire and Explosion, and Emergency Response) Regulations 1995 21 duties

The Offshore Installations (Safety Case) Regulations 2005 19 duties

Financial Services Firm — also bound by 167 other Acts

Commission Delegated Regulation (EU) No 231/2013 of 19 December 2012 supplementing Directive 2011/61/EU of the European Parliament and of the Council with regard to exemptions, general operating conditions, depositaries, leverage, transparency and supervision (Text with EEA relevance) 63 duties

Friendly Societies Act 1992 52 duties

Commission Delegated Regulation (EU) No 153/2013 of 19 December 2012 supplementing Regulation (EU) No 648/2012 of the European Parliament and of the Council with regard to regulatory technical standards on requirements for central counterparties (Text with EEA relevance) 52 duties

The Financial Services and Markets Act 2000 (Recognition Requirements for Investment Exchanges , Clearing Houses and Central Securities Depositories ) Regulations 2001 50 duties

The Credit Unions (Northern Ireland) Order 1985 43 duties

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.013 Amendment of regulation 23 (requirement on authorised person to inform the FCA) Regulated

Inform the FCA of material changes or inaccuracies within 30 daysAny Person

s.015 Amendment of regulation 29 (additional customer due diligence measures: credit institutions and financial institutions) Regulated

Perform additional due diligence on customer pooled accountsResponsible Person

s.020 Insertion of regulation 34A (enhanced customer due diligence: cryptoasset exchange providers, custodian wallet providers and correspondent relationships) Regulated

Perform enhanced due diligence for correspondent relationships with third-country cryptoasset providersFinancial Services Firm

s.037 Substitution of Schedule 6B (changes in control of registered cryptoasset businesses) Prosecution

Fail to comply with control change requirements for cryptoasset businessesAny Person

Unlimited fine

35 other provisions — procedural and definitional

s.001 Citation, commencement and extent

s.002 Amendment of the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017

s.003 Amendment of regulation 3 (general interpretation)

s.004 Amendment of regulation 4 (meaning of business relationship)

s.005 Amendment of regulation 8 (application)

s.006 Amendment of regulation 10 (credit institutions and financial institutions)

s.007 Amendment of regulation 12 (independent legal professionals and trust or company service providers)

s.008 Amendment of regulation 13 (estate agents and letting agents)

s.009 Amendment of regulation 14 (high value dealers, casinos, auctions platforms and art market participants)

s.010 Amendment of regulation 15 (exclusions)

s.011 Amendment of regulation 19 (policies, controls and procedures)

s.012 Amendment of regulation 19A (policies, controls and procedures in relation to proliferation financing)

s.014 Amendment of regulation 27 (customer due diligence)

s.016 Amendment of regulation 30 (timing of verification)

s.017 Insertion of regulation 30ZA (insolvent bank customers)

s.018 Amendment of regulation 30A (requirement to report discrepancies in registers)

s.019 Amendment of regulation 33 (obligation to apply enhanced customer due diligence)

s.021 Amendment of regulation 37 (application of simplified customer due diligence)

s.022 Amendment of regulation 38 (electronic money)

s.023 Amendment of regulation 39 (reliance)

s.024 Amendment of regulation 42 (application of this Part)

s.025 Amendment of regulation 45 (register of beneficial ownership)

s.026 Amendment of regulation 45ZA (register of beneficial ownership: additional types of trust)

s.027 Amendment of regulation 45ZB (access to information on the register)

s.028 Amendment of regulation 50 (duty to co-operate)

s.029 Amendment of regulation 52 (disclosure by supervisory authorities and other relevant authorities)

s.030 Amendment of regulation 52A (obligation of confidentiality)

s.031 Amendment of regulation 52B (obligation of confidentiality: offence)

s.032 Amendment of regulation 64C (information accompanying an inter-cryptoasset business transfer)

s.033 Amendment of regulation 64G (requesting information: unhosted wallet transfers and cryptoasset businesses)

s.034 Amendment of Schedule 1 (professional bodies)

s.035 Amendment of Schedule 3A (excluded trusts)

s.036 Amendment of Schedule 6 (meaning of “

s.038 Amendment of the Terrorism Act 2000

s.039 Amendment of the Proceeds of Crime Act 2002

Help complying

Guvnor’s practical routes through this instrument.

Meet anti-money laundering requirements

Essential guide to AML compliance for UK businesses in regulated sectors. Covers registration with supervisors, customer due diligence, suspicious activity reporting, appointing …

Start a financial services business

Launch an FCA-regulated financial services business with proper authorisation

1 more guide that reference this instrument

Anti-money laundering (AML) compliance

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