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HMRC internal manual

Money Laundering Regulations: Registration

Refusing an Application for Registration: Refusing Registration

We must refuse to register a business as an MSB or TCSP if we determine that:

  • the applicant;
  • a person who effectively directs, or will effectively direct, the business;
  • a beneficial owner of the business; or
  • the nominated officer of the business

is not a fit and proper person under Regulation 28 of the 2007 Money Laundering Regulations.

We can refuse to register an MLR business or cancel a business’s registration if they:

  • are not acting as an MLR business
  • fail to provide us with information on registration
  • fail to provide us with details of material changes during the year
  • fail to pay the appropriate fee(s)
  • provide false or misleading information on registration; or
  • fail to provide information in the way we have requested (Regulation 27(6))