Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (the Regulations) give the FCA responsibility for supervising the anti-money laundering controls of businesses that offer certain services.
If you offer these services, you will need to register with us as an Annex I financial institution under the Regulations.
This applies to the following services:
- lending including, among others, consumer credit, credit agreements relating to immoveable property, factoring with or without recourse, and financing of commercial transactions (including forfeiting). Consumer credit lenders must be authorised by the FCA and do not need to separately register with us for supervision under the Regulations
- financial leasing
- providing payment services
- issuing and administering other means of payment
- offering guarantees and commitments
- trading for own account or for account customers in any of the following:
- money market instruments
- foreign exchange
- financial futures and options
- exchange and interest-rate instruments or
- transferable securities
- safe custody services
- money broking
- portfolio management advice
- safekeeping and administration of securities
- participation in securities issues and providing services related to such issues (this will include registrars)
- advice to undertakings on capital structure, industrial strategy and related questions and advice and services relating to mergers and the purchase of undertakings
How to register under the Regulations
Businesses that need to register can do so using our online system Connect.
De-registering under the Regulations
Once registered, if your business no longer carries out one of the activities above, you can complete a de-registration form using our online system Connect.
Telling us about changes under the Regulations
If your business changes its core details (for example, it begins to offer another service that is in the list above, or it changes its address), you should use the notification form on our online system Connect.
If your business is applying to add an individual after registration as an Annex I Financial Institution, please complete the MLR Individual form:
Special purpose vehicles and registering under the Money Laundering Regulations
Special purpose vehicles involved in lending do not need to register with us as Annex I financial institutions if only the legal or beneficial interest in loans are transferred to them.
They will need to register where they act as the original lender.