Guidance

Civil measures for money laundering supervision

Updated 9 December 2020

Background

Under the regulations, all businesses supervised by HMRC for anti-money laundering purposes are subject to either:

  • fit and proper requirements
  • approval requirements

These requirements make sure the appropriate people hold the following roles:

  • beneficial owners
  • officers
  • managers
  • nominated officer

Before the business can register and remain registered with HMRC, the responsible persons must go through the relevant process.

Neither of the requirements test whether the business is professionally run or operated. Registration is a legal requirement to trade in a regulated activity. It is not a recommendation or endorsement of the business.

HMRC advises registered businesses to avoid using language that may suggest that registration was a form of endorsement or recommendation.

There is more detail about these requirements in the fit and proper guidance.

Introduction

This document sets out how HMRC will use its powers under the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017, referred to as ‘the regulations’.

HMRC is able to use any of the civil measures listed within this guidance, if a business is in breach of relevant requirements as listed in Schedule 6.

HMRC may treat any breach of the regulations as a criminal matter.

HMRC’s role under the regulations

HMRC is a supervisor under the regulations. The regulations require businesses to have written risk assessment, policies, controls and procedures in place to prevent others using them to launder money or finance terrorism. Businesses are also required to report suspicious transactions to the National Crime Agency (NCA).

HMRC must monitor the businesses for which we are responsible, and make sure they comply with the regulations. Our role includes:

  • maintaining a register of the businesses we supervise
  • providing education and guidance to help businesses understand their obligations
  • carrying out compliance activity and other targeted interventions to ensure registered businesses comply with their obligations
  • responding to non-compliance with appropriate measures

HMRC is subject to the Regulators Code. This means we will not impose an unnecessary regulatory burden and will focus civil measures action on the areas of greatest risk. We recognise the compliance effort of the businesses we supervise. We will take action, and apply sanctions, to the minority that do not comply. We will deal more severely with deliberate or persistent non-compliance.

HMRC’s approach to non-compliance

HMRC’s approach to promoting compliance is risk-based. It has 3 strands:

  • promote compliance by engaging with businesses and helping them to put in place appropriate controls to counter the threat that criminals may use them to launder money or fund terrorism

  • prevent non-compliance by making sure that businesses’ processes and interactions with customers help them stay on the right side of the law — we will challenge high risk businesses and those with inappropriate controls to put things right

  • respond to non-compliance by treating non-compliant businesses in a way that encourages sustained compliance in future — we will cancel the registration of criminally complicit businesses and illegitimate business models

HMRC’s approach helps businesses get things right the first time. It is flexible so we can respond to new and evolving threats. It promotes good compliance by designing systems and processes. This reduces the cost and allows us to focus on high-risk activity.

Issuing penalties, sanctions and criminal actions are part of our response to non-compliance.

HMRC’s power under the regulations

HMRC have certain civil powers under the regulations to tackle non-compliance. This guidance covers the more common situations and is not a definitive list.

HMRC may use the following powers, or a combination of them, to encourage compliance and respond to non-compliance:

  • inspect business premises
  • issue a penalty
  • refuse or remove fit and proper status from an individual
  • refuse or remove an approval from an individual
  • refuse, suspend or cancel a business’s registration
  • issue a notice to request information or attendance at a meeting
  • issue a public statement naming and censuring a business or person
  • suspend or prohibit an individual from holding a managerial role
  • seek a court order to enter premises or to restrain a person from committing a breach

Most breaches are treated as civil matters. HMRC may treat breaches as a criminal matter and investigate with a view to prosecution.

General principles

The majority of businesses comply with the regulations. They expect HMRC to apply sanctions to those businesses that do not comply, whether carelessly or knowingly. They expect HMRC to ensure that non-compliance does not give those businesses a competitive advantage.

We encourage everyone to report non-compliance with the regulations if they become aware of it. Our contact details are set out in Appendix 1.

Appropriate penalties

The financial penalties we issue under the regulations must be appropriate. In other words, they must be effective, proportionate and dissuasive. This means our penalties will:

  • be fair, and take into account past behaviour
  • be proportionate to the seriousness of the breach or offence
  • remove any financial gain or competitive benefit of non-compliance
  • be sufficient to act as a deterrent to non-compliance

HMRC do not issue penalties to raise money.

We may issue a penalty or start a criminal investigation for any breach, even if it’s the first. We will decide in each case whether it will be a civil or criminal matter. If you continue not to comply HMRC may decide that a criminal investigation is a more appropriate response.

Our approach must be consistent, but must also be sensitive to the circumstances and behaviours in each case.

A penalty administration charge will apply to penalties issued after 25 July 2018. The charge is for the costs of issuing penalties to businesses that do not comply with the regulations. HMRC will advise the amount when issuing the penalty documentation.

Who we can apply measures to

We may apply measures to:

  • a business that is required to register
  • a registered business
  • an officer of the business
  • the beneficial owners
  • directors, managers and nominated officer

Inspecting premises

On reasonable grounds, HMRC officers can:

  • enter and inspect premises
  • observe the business or professional activities
  • interview the business
  • ask any person on the premises where documents or information might be found
  • require any person on the premises to provide an explanation of any document, or to state where documents or information might be found
  • inspect any documents or information found on the premises and make copies of documents
  • inspect any cash found on the premises

A visit is usually by appointment but in some situations we may carry out an unannounced visit. We will identify ourselves when we arrive.

Most businesses are happy to co-operate. HMRC officers do not need a warrant to enter and inspect premises, but they may apply to the Court for a warrant, if necessary.

Our power to enter premises also applies to businesses that should be registered but are not.

You can read more about this in the business inspections guidance.

Deciding an application

Refusing to register your business

When you apply to register you will be asked to provide information. We may ask for extra information in some cases. We will write to you, explain what information is needed, why it is needed and tell you that it should be provided within 21 days. We will pause your application at this point.

Your application will be refused if we do not receive the information requested within the specified time period.

We may refuse an application in any of the following circumstances:

  • the registration conditions have not been met
  • information provided is false or misleading
  • we have not been informed of material changes and inaccuracies to information in the application within 30 days of the event
  • a person who needs to be tested is not a fit and proper person with regard to the risk of money laundering or has a conviction for a relevant criminal offence
  • a person that needs to have approval from HMRC has not been approved because of a conviction for a relevant criminal offence
  • information we have requested has not been provided
  • you do not have a written risk assessment or policies in place
  • we have reason to believe you, or an officer or manager in your business, are not able to carry out the obligations under the regulations
  • fees have not been paid
  • a penalty has not been paid
  • a money service business (who is a money transmitter) is not on the Financial Conduct Authority’s register of payment service providers

A business will not be able to lawfully undertake the relevant activity if we refuse an application to register the business for that activity.

Suspending or cancelling a registration

We may suspend or cancel an existing registration for the same reasons that we refuse to register a business.

In addition, we may suspend or cancel a registration when:

  • a business does not respond to a request for information by notice to our satisfaction
  • your standing with a regulator means that you are prohibited from trading
  • you do not pay the annual fee
  • you are no longer a fit and proper person or have been convicted of a relevant offence

A business will not be able to lawfully undertake the relevant activity if HMRC cancels its registration for that activity.

If we suspend your registration we will tell you how long it is suspended for and what you need to do to have your registration re-instated. You will not be able to undertake relevant activity during the period of your businesses suspension.

Fit and proper and approved status

Fit and proper

HMRC may refuse or withdraw the fit and proper status from a person in the money service business and trust and company service providers sectors if they:

  • have a criminal conviction for a relevant offence
  • are not fit and proper with regard to the risk of money laundering and terrorist financing

We must refuse the registration of a business where a responsible person holding a relevant position is not fit and proper. A person who is not fit and proper cannot act as a:

  • beneficial owner
  • officer
  • manager

We will allow you to put forward another person if a nominated officer fails the test. If we later find that a responsible person is not fit and proper we may suspend or cancel the registration.

HMRC approval

HMRC will not approve a person as a sole practitioner, manager, officer or beneficial owner in the accountancy service provider, estate agency business and high value dealer sectors who has an unspent criminal conviction for a relevant offence.

You are guilty of a criminal offence if you act as a manager or officer or are knowingly a beneficial owner with a conviction for a relevant offence. You can be issued an unlimited fine and imprisoned for up to 3 months.

HMRC may impose sanctions if:

  • a business does not take reasonable care to ensure the persons above has been approved by HMRC
  • a business does not inform HMRC of a conviction for a relevant offence within 30 days of becoming aware of it
  • an individual does not inform HMRC of a conviction for a relevant offence within 30 days of the day they were convicted

If you act in that capacity with a conviction for a relevant offence, HMRC may:

  • refuse, suspend or cancel the registration of the business
  • apply to the High Court seeking an order to sell the beneficial owner’s holding in the business
  • consider other sanctions that might be appropriate

You can read more about this in the fit and proper test guidance and HMRC approval checks guidance.

Prohibiting a person from managing

We may issue a temporary or permanent prohibition against a person holding an office or a decision making or management position if they were involved in, or allowed, a breach to happen. This ban will prohibit them from acting in a management capacity as specified by HMRC in the prohibition notice. This could include any or all activity covered by the regulations.

HMRC may impose further sanctions on the business or the individual, including criminal prosecution, if they do not comply with the prohibition.

Issuing penalties

Compliance penalties

HMRC may test your compliance with the regulations by:

  • a visit to your premises
  • an office based intervention
  • a telephone intervention

We may use a combination of these types of intervention.

If we find your business has breached any of the requirements at Appendix 2, and treat it as a civil matter we will consider issuing a warning letter or penalty.

Warning letters

We may issue a warning letter to:

  • tell you about the breaches we identified
  • formally warn you that you have breached the regulations
  • tell you the actions you need to take
  • give you a time period to correct the breaches
  • inform you we may follow up to check your compliance
  • tell you what will happen if further breaches are found

HMRC are not required to send warning letters before we issue penalties or start criminal investigations. We will not issue a warning letter and will move straight to issuing a penalty if any of the following apply:

  • the breaches are serious
  • the breaches happen throughout the business
  • the business is aware of their requirements and despite this, they still knowingly breach
  • you have been trading while unregistered
  • you have not complied with a notice requiring information

We will not normally issue a second warning letter for a second breach of the same regulation and may respond with other appropriate action. We may issue a second warning letter if a business has made significant efforts to address the areas set out in the original warning letter and there are some minor administrative issues that still need to be addressed.

A written warning is not the end of the matter. We may take follow-up action to test compliance.

We may view a second instance of the same breach as deliberate, for example where we have told you how to correct the failures but you have not done so. If we then decide to issue a penalty, we may apply another sanction.

Pre-penalty notice

When we have decided to issue a penalty, we may issue a pre-penalty notice in order to:

  • inform a business that we intend to issue a penalty
  • the reasons why we are doing so
  • the breaches that have given rise to the penalty
  • offer the business an opportunity to present any relevant information that has not been considered in the decision

A pre-penalty notice will contain a schedule explaining the breaches, the penalty amount and how it has been calculated.

We will issue the penalty notice if the business does not respond after 30 days. If the business responds by providing new information, we will consider the new information including whether to cancel or recalculate the penalty to a lower or higher amount. We will then issue a penalty notice as appropriate.

We do not have to send a pre-penalty notice. In a straightforward case, or a case where we have a concern that the swift issue of a penalty or other sanction is required, we may issue a penalty notice without first issuing a pre-penalty notice.

Penalty notice

We will issue a penalty notice to tell a business that it is subject to a penalty. The penalty notice will explain:

  • the amount we are penalising you
  • our reasons for issuing the penalty
  • how the penalty has been calculated
  • the date by which the penalty must be paid and how to pay it
  • the breaches that have given rise to the penalty
  • your rights to a review and appeal, and the deadlines for requesting these

Registration penalties

Trading while unregistered

A business must not trade in a regulated sector without registering with HMRC or another supervisor listed in Schedule 1 of the regulations. Trading while not registered may result in a civil penalty or a prosecution.

Where a business registers after beginning to trade, the penalty will be proportionate to the length of time it has traded while unregistered.

HMRC works to identify businesses that are trading who should be registered but are not. If HMRC identifies that you have been trading without being registered for supervision, you may be issued with a penalty. HMRC will give you the opportunity to apply to register. If a business has traded at any time, or continues to trade without registering, we may decide to:

  • issue a larger penalty for the failure to register
  • issue a penalty if you are not complying with your other obligations at Appendix 2, for example to carry out customer due diligence
  • penalise the person responsible and make them liable for its payment
  • use another sanction instead of or as well as, a financial penalty

Any period of trading whilst unregistered may affect our view of your ability to comply with the regulations and whether an application to register would be accepted. We may decide that a more appropriate response is to treat it as a criminal matter.

Failing to update HMRC

You must tell HMRC of any material changes or inaccuracies in the information you have supplied, as detailed in the registration guide, within 30 days of the change. If you do not provide this, we may issue a penalty.

You must tell us about changes of your nominated officer or compliance officer within 14 days. If you do not, we may issue a penalty.

You must tell us within 30 days if any approved person in your business is convicted of an offence listed in Schedule 3 of the regulations.

A penalty will apply each time you do not tell us of a material change or inaccuracy within 30 days of the change taking place or the error being discovered.

Individual breaches notified at the same time will each be penalised.

For example, where there is a failure to tell HMRC of a change of a director, a penalty will apply to each event. If 2 directors were appointed, and 3 directors left the business, you would have breached the regulations 5 times.

A director is key to your ability to comply with the regulations and may be subject to a fit and proper test or approval by HMRC. We would therefore consider these to be material changes. Any change or inaccuracy that affects your ability to comply with the regulations, or HMRC’s ability to test your compliance with the regulations, may be material.

Failing to comply with an information notice

When HMRC reasonably requires information we may issue a notice requiring a business or a person connected to it to:

  • provide the information specified in the notice
  • produce records specified in the notice
  • attend for interview and answer questions

This may apply to an individual, a partner or officer, manager, employee or agent of a business or a connected person.

The information notice will explain our reasons for asking for information and tell the business when and where the required information should be produced.

The consequences of not complying with an information notice may be:

  • a fixed penalty
  • suspension or cancellation of the business’s registration
  • any other sanction, or a combination of sanctions, which HMRC considers to be more appropriate

HMRC may decide to treat not complying with an information notice as a criminal matter.

When we will not issue penalties or other sanctions

Reasonable steps

HMRC will not normally impose a penalty or other sanction where we are satisfied you took all reasonable steps to ensure a requirement would be complied with.

We will also consider whether you have followed any relevant guidance that was issued at the time the breach occurred and was issued by HMRC or another appropriate body and approved by HM Treasury.

Other circumstances

We may decide not to impose sanctions where a business:

  • breaches the regulations due to unforeseeable and unavoidable circumstances
  • has a reasonable explanation for the breach and has voluntarily told us without undue delay
  • is normally compliant and has made an untypical error
  • is making significant improvements to correct areas of weakness it has identified and has voluntarily disclosed this to us

In these circumstances, we may consider a written warning. We may issue a penalty if the business does not carry out the action set out in the warning letter by the given date.

Any warnings we issue are without prejudice to any civil or criminal action that may take place.

Liability of an officer to a penalty

HMRC may issue a penalty directly to an officer if they are knowingly concerned in a breach.

HMRC may take the view that more than one officer is responsible for a breach and may impose penalties on any or all of them.

The penalty will be appropriate to the severity of the breach. Other sanctions may be considered instead of, or in addition to, a financial penalty.

An officer is a person acting as, or saying they act as, any of the following:

  • director
  • secretary
  • nominated officer
  • chief executive
  • a member of the management body
  • a person who controls a corporate body
  • a partner
  • manager
  • secretary or similar officer in a partnership
  • an officer or member of the governing body of an unincorporated association or a sole proprietor

Not paying a penalty

If you do not pay a penalty that we issue under the regulations, HMRC may seek recovery using bailiffs or through the courts as a debt. You may also be charged bailiff fees and for the court’s time.

If you still do not pay we may:

  • set off any future payments you make against the penalty debt
  • reconsider your fit and proper status
  • refuse, suspend or cancel your registration
  • consider other sanctions

HMRC may also consider other forms of asset recovery where appropriate, including potentially treating income received from trading without registration as the proceeds of crime.

Publishing

Publishing statements

Under Regulation 85 of the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (MLRs), HMRC has a duty to publish details of penalties, censuring statements and persons prohibited from management naming your business or an individual after issuing a notice relating to these measures. These details will be published online for at least 5 years and includes:

  • your name or the name of the business and the registered address
  • nature of the breaches and their value
  • status of any appeals against the penalty or sanction

Find out more information about Businesses not complying with money laundering regulations.

In circumstances described in the Regulations, we may defer publication, or publish anonymously, if publishing details would be disproportionate. We will not publish at all if publishing could affect the stability of the financial markets, or if we consider the penalty or sanction to be minor. Only penalties and sanctions that apply to the 2017 regulations will be considered and information will remain online for a period of 5 years.

Those issued with a pre-penalty letter or a letter advising that we may publish a censure statement or prohibit a person from management have 30 days to represent themselves against publication.

Publishing decisions will be made on a case-by-case basis and you will be told about HMRC’s decision to publish relating to your specific penalty or sanction in full, anonymously or not at all.

Publishing suspensions and cancellations

As part of the amendment to the MLRs in January 2020, Regulation 60 gives HMRC the authority to publish details of suspensions and cancellations imposed, where considered proportionate to do so. We will name your business or an individual after we issue a notice relating to these measures.

These details will be published online and includes:

  • your name or the name of the business and the registered address
  • to and from dates of the suspension and the date of cancellation
  • status of any appeal against the issuing of the suspension or cancellation

Find out more information about Businesses not complying with money laundering regulations.

As soon as the suspension or cancellation comes into effect, your details will be deleted from the list of supervised businesses.

Publishing decisions will be made on a case-by-case basis and you will be told about HMRC’s decision before publication. You have 30 days from the date of the confirmation letter to represent yourself or your business or both against publication.

Reviews and appeals

HMRC will tell you when a decision is made and tell you whether you have a right of appeal.

A business will have 30 days to challenge our decision to:

  • impose a financial penalty
  • issue a direction under Regulation 25(2)
  • refuse or withdraw a person’s fit and proper status
  • refuse, suspend or cancel a business’s registration
  • publish a censuring statement
  • issue a prohibition on management

We offer an opportunity to have the decision reviewed by an independent HMRC team who were not involved in making the original decision. A review decision is usually made within 45 days. Where we have refused to register a business or cancelled a registration, the business cannot continue to trade during that time.

If you have a review and do not agree with our decision, you can appeal to the First Tier (Tax) Tribunal of HM Courts and Tribunal Service within 30 days of the review.

You can also appeal directly to the First Tier (Tax) Tribunal of HM Courts and Tribunal Service within 30 days of the decision without requesting a review.

Criminal investigation and prosecution

Working with Law Enforcement Agencies

We treat most breaches as civil matters, but HMRC may treat any breach as a criminal matter and investigate with a view to prosecution.

We also work with other Law Enforcement Agency partners to support money laundering regulation prosecutions they bring.

Consequence of criminal prosecution

Criminal prosecution may result in a fine or up to 2 years imprisonment, or both.

If an offence is committed with the consent or the connivance of any officer or attributable to any neglect on the part of an officer, we can also prosecute:

  • an officer of a business — such as a director
  • a partner in a partnership

Non-compliance with the regulations may also lead to offences under the:

  • Proceeds of Crime Act 2002
  • Terrorism Act 2000

For example failing to make a report about suspicious activity, and tipping off any person that you have made, or intend to make, such a report. This applies to businesses in the regulated sector.

The Terrorism Act sets out the primary offences relating to terrorist funding. Regulated businesses must report a belief or suspicion of offences related to terrorist financing, such as:

  • fund-raising, using or possessing money or other property for the purposes of terrorism
  • conceal, transfer or remove from jurisdiction, any money or property used to finance terrorism
  • facilitate the retention or control of money, which is destined for, or is the proceeds of terrorism
  • do not comply with a prohibition imposed by a freezing order or enable any other person to contravene a freezing order
  • deal with, or make available funds or economic resources which are owned, controlled by or benefiting a designated person (under the Office of Financial Sanctions Implementation List)

A conviction can result in a prison sentence of up to 5 years, a fine or both.

A conviction for money laundering under Proceeds of Crime Act section 327 to 329 can result in a prison sentence of up to 14 years, a fine or both.

Appendix 1

Instances of non-compliance should be reported to HMRC at Customs hotline telephone: 0800 595 000 or email customs@hotline.hmrc.gov.uk.

General enquiries about HMRC’s supervision of businesses under the regulations should be emailed to mlrcit@hmrc.gov.uk.

Appendix 2

Specific breaches of the Money Laundering, Terrorist Financing, Transfer of Funds (Information on the Payer) Regulations 2017

Meaning of “relevant requirement”

  1. For the purposes of part 9 of these regulations, “relevant requirement” means -
    (a) a requirement imposed by the funds transfer regulation specified -
    (i) in relation to a payment service provider of a payer, in paragraph 2;
    (ii) in relation to a payment service provider of a payee, in paragraph 3;
    (iii) in relation to the payment service provider of an intermediary, in paragraph 4.
    (b) a requirement imposed (otherwise than on supervisory authorities, registering authorities or auction platforms) in or under the regulations specified in paragraphs 5 to 12;
    (c) the following requirements imposed on auction platforms -
    (i) the customer due diligence requirements in Article 19 or 20.6 of the emission allowance auctioning regulation;
    (ii) the monitoring and record keeping requirements of Article 54 of the emission allowance auctioning regulation; or
    (iii) the requirements imposed in regulations 18 to 21 or 24 of these regulations;
    (iv) any requirement imposed under regulations 66, 69(2) and (3), 70(7), 77(2) and (6) or 78(2) or (5) of these regulations.
  2. The requirements specified in this paragraph are those imposed in -
    (a) Article 4 (information accompanying transfers of funds);
    (b) Article 5 (information within the EEA);
    (c) Article 6 (transfer of funds outside the EEA);
    (d) Article 14 (provision of information);
    (e) Article 15 (data protection); (f) Article 16 (record retention).
  3. The requirements specified in this paragraph are those imposed in -
    (a) Article 7 (detection of missing information on the payer or the payee);
    (b) Article 8 (transfers of funds with missing or incomplete information on the payer or the payee);
    (c) Article 9 (assessment and reporting);
    (d) Article 14 (provision of information);
    (e) Article 15 (data protection);
    (f) Article 16 (record retention).
  4. The requirements specified in this paragraph are those imposed in -
    (a) Article 10 (retention of information on the payer and the payee with the transfer);
    (b) Article 11 (detection of missing information on the payer or the payee);
    (c) Article 12 (transfer of funds with missing information on the payer or the payee);
    (d) Article 13 (assessment and reporting);
    (e) Article 14 (provision of information);
    (f) Article 15 (data protection);
    (g) Article 16 (record retention).
  5. The requirements specified in this paragraph are those -
    (a) imposed in -
    (i) regulation 18 (risk assessment by relevant persons);
    (ii) regulation 19 (policies, controls and procedures);
    (iii) regulation 20 (policies, controls and procedures: group level);
    (iv) regulation 21 (internal controls);
    (v) regulation 22 (central contact points: electronic money issuers and payment service providers);
    (vi) regulation 23 (requirement on authorised person to inform the FCA);
    (vii) regulation 24 (training);
    (b) imposed by supervisory authorities under regulation 25 (supervisory action).
  6. The requirements specified in this paragraph are those imposed in regulation 26(1), (4), (5) and (10) (prohibition and approvals).
  7. The requirements specified in this paragraph are those imposed in -
    (a) regulation 27 (customer due diligence);
    (b) regulation 28 (customer due diligence measures);
    (c) regulation 29 (additional customer due diligence measures: credit institutions and financial institutions),
    (d) regulation 30 (timing of verification);
    (e) regulation 31(1) (requirement to cease transactions);
    (f) regulation 33(1) and (4) to (6) (obligation to apply enhanced customer due diligence);
    (g) regulation 34 (enhanced customer due diligence: credit institutions, financial institutions and correspondent relationships);
    (h) regulation 35 (enhanced customer due diligence: politically exposed persons);
    (i) regulation 37 (application of simplified due diligence);
    (j) regulation 38(3) (electronic money).
  8. The requirements specified in this paragraph are those imposed in -
    (a) regulation 39(2) and (4) (reliance);
    (b) regulation 40(1) and (5) to (7) (record keeping);
    (c) regulation 41 (data protection).
  9. The requirements specified in this paragraph are those imposed in -
    (a) regulation 43 (corporate bodies: obligations);
    (b) regulation 44 (trustee obligations);
    (c) regulation 45(2) and (9) (register of beneficial ownership).
  10. The requirements specified in this paragraph are those -
    (a) imposed in -
    (i) regulation 56(1) and (4) (requirement to be registered);
    (ii) regulation 57(1) and (4) (applications for registration in a register maintained under regulations 54 or 55);
    (b) imposed by the registering authority under regulation 57 (applications for registration).
  11. The requirements specified in this paragraph are those imposed in regulation 64(2) (obligations of payment service providers);
  12. The requirements specified in this paragraph are those imposed under -
    (a) regulation 66 (power to require information);
    (b) regulation 69(2) (entry, inspection of premises without a warrant);
    (c) regulation 70(7) (entry of premises under warrant);
    (d) regulation 77(2) and (6) (power to impose civil penalties: suspension and removal of authorisation);
    (e) regulation 78(2) and (5) (power to prohibit individuals from managing).