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HMRC internal manual

Money Laundering Regulations: Registration

From
HM Revenue & Customs
Updated
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Registration Process for MSBs/TCSPs: Table 3 Fit and Proper Test completed

Registration Team

Action Details
   
Results of F&P test received from RIS Has the applicant passed or failed F&P test?
Applicant passes F&P test Update DTR and F&P database
File application in Business’s Registration File    
  Action where an individual fails fit and proper test Update DTR and F&P database

Issue letter to the applicant notifying failure of the F&P test; and

Issue letter to the business notifying them that their application cannot be accepted because the applicant has failed the F&P test; or

Issue letter to sole proprietor notifying failure of the F&P test.

Monitor response within 14 days    
  Individual / sole proprietor provides further information Review the information provided

Overturn decision if information sufficient to confirm reason for F&P failure was inaccurate

Request RIS to carry out further checks if the information does not confirm reason for F&P failure was inaccurate    
  Response received from the business If the business decides to replace the individual who has failed the F&P test monitor receipt of new F&P application form and fee within 30 days
  No response from the business Issue letter notifying failed application to register and refund registration fee
  No response from sole proprietor Issue letter of refusal to register and refund registration fee