ECSH63945 - Regulation 51 - Regulatory information
| Category Heading | Description |
|---|---|
|
The Law |
https://www.legislation.gov.uk/uksi/2017/692/regulation/51 |
|
What it means |
This regulation allows HMRC (shown as “the commissioners” in the list of
supervisors in Regulation 7) to collect information we need to carry out our
supervisory function, as well as the information we must keep listed in Schedule 4. |
|
Purpose |
To allow us to carry out our function we must maintain information on
the businesses we supervise. Examples of the information we must keep include, but are not limited to: the number of applicants who were registered, refused and yet to be determined how many businesses have been suspended or cancelled under Regulation 60 how many times we have used our powers under part 8 Information, Investigation and Directions (for example, a notice issued under regulation 66) the number of times the businesses we supervise have breached the regulations and the amount of penalties or criminal charges which have been imposed under Part 9 Enforcement. For the full list of supervisory information we must keep see Schedule 4. This information must be provided to HM Treasury (HMT) on request. This enables HMT to carry out its obligations under EU anti-money laundering directives and publish an annual review of UK supervision. |
|
Time Line |
Whilst there has always been a requirement to maintain a register and
provide information to HMT, there was no equivalent regulation in previous MLRs
which set out the types of information which must be kept. Duties of
supervisors was set out in Regulation 24 MLR 2007. |
|
What to establish |
Each area within ECS will maintain information regarding its function,
for example: Authorisations maintain stats sheets as well as registration information held on HMRC systems ETMP and RCM. Compliance Investigations maintain an end-to-end case tracker and information regarding their compliance activity on Caseflow 2. Promote team maintain information regarding sanctions raised against businesses we supervise and whether it has been published on GOV.UK within the Publishing Decision Grid. ECS stats are collated by the Governance team. There are also Subject Matter Experts who extrapolate information from HMRC systems to provide detailed information, for example regulations breached are shown within Caseflow. |
|
How to test compliance and Evidence to obtain |
Caseworkers must ensure that they accurately record information in line
with Standard Work Instructions (SWI) for their business area. If you’re unsure
of what information you need to maintain, speak to your manager. Managers must ensure that information has been recorded appropriately and reported timely. Any anomalies should be investigated immediately and reported as appropriate. |
|
Best Practice |
Caseworkers must update systems as they work through cases to ensure that
we can meet our reporting obligations. Any errors must be corrected as soon as they are identified. Uploading information in bulk when cases are being finalised provides opportunity for key information to be missed and inaccurate monthly reporting. Caseworkers must accurately record whether they have been authorised to use powers under Part 8 of the Regulations and whether that power was exercised. For Compliance Investigations, the power to enter and inspect premises under Regulation 69 must be authorised by an independent SO. |
|
AMP |
No additional Best Practice. |
|
ASP |
No additional Best Practice. |
|
EAB |
No additional Best Practice. |
|
LAB |
No additional Best Practice. |
|
HVD |
No additional Best Practice. |
|
MSB |
No additional Best Practice. |
|
TCSP |
No additional Best Practice. |
|
Further Reading |
Knowledge Library Guidance https://www.legislation.gov.uk/uksi/2017/692/schedule/4 |
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FAQs |