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ECSH30500 | Introduction – supervisors under MLR 2017

From HM Revenue & Customs · Economic Crime Supervision Handbook

Every business undertaking relevant activity covered by The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (MLR 2017) must be supervised by a supervisory authority. There are 25 supervisors in total listed in MLR 2017: three public sector supervisors and 22 legal and accountancy professional body supervisors.

The three public sector supervisors are:

  • HMRC

  • Financial Conduct Authority (FCA)

  • Gambling Commission (GC)

The professional bodies supervisors are listed in Schedule 1 of MLR 2017.

Supervisors are required to monitor their supervised populations effectively and take necessary measures to secure their compliance with MLR 2017.

Regulation 46 MLR 2017 details the duties of supervisory authorities, which are further expanded in other regulations (e.g.17 and 47). See guidance on duties of a supervisor at ECSH31000.