ECSH63940 - Regulation 50 - Duty to cooperate
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Category Heading |
Description |
|---|---|
| The Law |
https://www.legislation.gov.uk/uksi/2017/692/regulation/50 |
| What it means |
This regulation is part of a collection of duties and responsibilities for a supervisory authority to follow and adhere to. This provision requires HMRC to take appropriate steps to cooperate and coordinate with other supervisory authorities, the Treasury and law enforcement to develop and implement policies that counter money laundering and terrorist financing. The regulation also provides for co-operation with authorities overseas including the European Supervisory Authority. |
| Purpose |
Where HMRC is not prevented from disclosing information i.e. CRCA 2005 , the purpose is to permit co-operation between HMRC, other authorities and institutions to effectively combat money laundering and terrorist financing concerning relevant persons established in the UK. The co-operation includes the sharing of confidential information and a duty to disclose material only with the consent of the authority or institution to do so. |
| Time Line |
Duties of supervisory authorities came under Regulation 24 of MLR 2007 however this does not specifically cover the duty to co-operate. |
| What to establish |
(This content has been withheld because of exemptions in the Freedom of Information Act 2000) |
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How to test compliance and Evidence to obtain |
(This content has been withheld because of exemptions in the Freedom of Information Act 2000) |
| Best Practice |
(This content has been withheld because of exemptions in the Freedom of Information Act 2000) |
| AMP |
No additional Best Practice. |
| ASP |
No additional Best Practice. |
| EAB |
No additional Best Practice. |
| HVD |
No additional Best Practice. |
| MSB |
No additional Best Practice. |
| TCSP |
No additional Best Practice. |
| Further Reading |
(This content has been withheld because of exemptions in the Freedom of Information Act 2000) |
| FAQs |
Can you provide information directly to other supervisory authorities or law enforcement agencies yourself? No, it must be passed through the Gateway Team |