supervisor registration

01.09.11 Money Laundering Regulations cease to apply to stocktakers from 1 October 2011

As part of its review of the Money Laundering Regulations and in order to ensure its effective and proportionate implementation by businesses in the UK, the Treasury has reviewed the risk of money laundering and terrorist finance with HMRC and the Institute of Licensed Trade Stock Auditors.

20.07.10 HMRC issue new Anti money laundering guidance

A new set of anti money laundering guides have been published on the HMRC internet site to replace Public Notice MLR8: Preventing money laundering and terrorist financing. The new guides are sector specific and provide detailed guidance in relation to the legislation, risks, record keeping and reporting requirements relevant to each business sector.

31.03.10 HMRC Announce Penalties for non-registration

HMRC Announces important information for Money Service Businesses, High Value Dealers, Trust or Company Service Providers and Accountancy Service Providers who have failed to apply for Money Laundering Regulations Registration.

HMRC announce that a new late registration penalties policy has been introduced for Money Service Businesses, (MSBs) High Value Dealers, (HVDs) Trust or Company Service Providers, (TCSPs) and Accountancy Service Providers (ASPs).

10.11.09 HMRC Publish Money Laundering Regulations Memorandum Trading Account

The Money Laundering Regulations supervisory regime is run on a cost recovery basis and the fees paid by customers cover the expense of running the operation. HMRC costs include registering new businesses, contacting and visiting businesses, running an effective risk system, maintaining the register and producing guidance and information for customers.