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HMRC internal manual

Money Laundering Regulations: Compliance

Legislation: A business has more than one supervisor

Under the regulations where a business would have more than one supervisor the supervisors can agree that one of them will act as the supervisor for that business.

FSA has agreed to supervise any HVDs that are also Annexe I Financial Institutions.

FSA has agreed to supervise any ASPs that are not members of the named professional bodies which are listed at Appendix 1 of MLR9 and are either authorised businesses or Annexe 1 Financial Institutions as listed in schedule 1 MLRs 2007 registered with FSA.