ECSH45785 | Fit and proper and approvals: contents: operational guidance: list of checks or tests conducted on each sector

The approvals check is conducted on applications from the following sectors:

• Art market participants (AMPs).

• Accountancy service providers (ASPs).

• Estate agency businesses (EABs).

• Letting agency businesses (LABs).

• High value dealers (HVDs).

HVD cases follow a slightly different process and require more enhanced checks.

For more information on the specific checks that are conducted on approvals, see ECSH45780.

The fit and proper test is conducted on applications from the following sectors:

• Money service businesses.

• Trust or company service providers.

For more information on the specific checks that are conducted at each stage of a fit and proper test application, see ECSH45780. The fit and proper SWI is also located within the knowledge library.

Neither the approvals check, nor the fit and proper test is conducted on telecommunications, digital & IT payment service providers (TDITPSPs) and bill payment service providers (BPSPs) as they do not fall under regulations 26 or 58 of The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (MLR 2017) which means that HMRC register and supervise these sectors, but they are not subject to approvals check.

(This content has been withheld because of exemptions in the Freedom of Information Act 2000)