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HMRC internal manual

Money Laundering Regulations: Registration

The Scope of Money Laundering Regulations: Registration: Background and Principles

The money laundering regulations apply to certain businesses and cover:

credit and financial institutions, auditors, accountants, tax advisers and insolvency practitioners, independent legal professionals, trust or company service providers, estate agents, high value dealers and casinos. We say that these businesses fall within scope of the regulations unless they are covered by any of the exemptions in regulation 4.

All other businesses fall outside the scope of the regulations together with any of the businesses listed above that are exempted.

Trust and Company Service Providers (TCSPS) contain several different types of businesses and Treasury have looked at what the 3rd Money Laundering Directive (MLD) intended to cover, when deciding what activities fall within scope as TCSPs. We have provided guidance to help businesses decide whether they fall within the scope of the regulations and therefore need to register with us, but we cannot provide a definitive interpretation of the law, which can only be done by the courts. However we will be putting forward the Registration Guidance MLR 9 for HM Treasury approval. This means that in deciding whether a person has failed to comply with a requirement of the Regulations in relation to registration, the designated authority must consider whether the business has followed the registration guidance.