MLR1PP3160 - Penalties Guidance: Specific legislation empowering these changes: Sanctions and prosecution

• Regulation 45 lists the regulatory offences which are subject to a criminal investigation. These are the same as the breaches which are liable to a civil penalty under Regulation 42. The Regulations provide no guidance when a civil breach of Regulations listed in Regulation 42 becomes a criminal offence under Regulation 45
• The relationship between Regulations 11 and 14 of the Transfer of Funds Regulations 2007 (referred to as the Payments Regulation) is the same as between Regulations 42 and 45 of MLR 2007

Fit and proper persons:

• Regulation 28(2)(e) says that an individual is not a fit and proper person if they have consistently failed to comply with MLR 2007, 2003 or 2001