Reporting
changes - new form available
If you need to tell HM Revenue & Customs (HMRC) about changes to
your business circumstances you can now do so using a new ‘reporting
changes’ form. This replaces the MLR112 form which is no longer available.
Using the template is optional, and you can still write to HMRC instead telling them of any changes and quoting your MLR (Money Laundering Regulations) registration number.
References in the Money Laundering Regulations
guidance to 'bureaux de change' to be amended to 'currency exchange
offices'
References to 'bureau de change' within the Money Laundering Regulations
guidance will be changed to refer to 'currency exhange offices'.
Further financial sanctions against
Iran
Details of further financial sanctions that will apply against Iran.
Free Business Advice Open Days on
Money Laundering Regulations - Update
An updated list of Business Advice Open Days for MLR has now been published.
This confirms that some events planned for 2011 in Leeds, Belfast and
Norwich have now been cancelled.
Continuation of financial restrictions
for Bank Mellat and the Islamic Republic of Iran Shipping Lines
Confirmation that finacial restrictions still apply to two Iranian companies
even though the Treasury Order in which they were named has expired.
Free Business Advice Open Days on
Money Laundering Regulations - Update
An updated list of Business Advice Open Days for MLR has now been published.
This confirms that an event planned in Manchester on 9 November 2010
has now been cancelled.
Money Laundering Regulations
(MLR) annual fee review (PDF 44K)
A summary report of the review of the fees HM Revenue & Customs
(HMRC) charges under the Money Laundering Regulations (MLR) has now
been published. It concluded that the fee structure will not change
for the foreseeable future.
In addition, HMRC reviewed the annual fee which is charged to meet running costs and will reduce the current fee from £120 to £110 with effect from 1 December 2010.
Pakistan floods disaster - guidance
on transmitting money
Guidance to money transmitters to ensure that charitable donations are
not misused.
The future of the Serious Organised Crime Agency
(SOCA)
A reminder that businesses should continue to report suspicuous activities
to SOCA until further notice.
External consultants cannot act
as a Nominated Officer under Money Laundering Regulations
Businesses which are registered with HM Revenue & Customs under
the Money Laundering Regulations are reminded that external consultants
cannot act as a businesses' Nominated Officer.
Free Business Advice Open Days on
Money Laundering Regulations - Update
An updated list of Business Advice Open Days for MLR has now been published.
This contains a change of date for the event in Leeds.
New Anti Money Laundering Guidance
New Anti Money Laundering Guidance replaces Public Notice MLR8: Preventing
money laundering and terrorist financing.
Free Business Advice Open Days on Money Laundering Regulations- Update
An updated list of Business Advice Open Days for MLR has now been published.
MLR - Memorandum Trading Account - 1
April 2009 to 31 March 2010
The Money Laundering Regulations supervisory regime is run on a cost
recovery basis and the fees paid by customers cover the expense of running
the operation. This summary details HMRC's income and expenditure for
the last financial year.
MLR-What
are your fees used for?
A new report is available which explains how the fees paid to HMRC under
the Money Laundering Regulations are used.
MLR Business open days announced
Announcement of open days for businesses on Money Laundering Regulations.
Money Service Businesses
Register
Money Service Businesses Register is now available online.
Money Laundering Regulations - appeal
against registration dismissed
A Tribunal has dismissed an appeal against registration under the Money
Laundering regulations. The Tribunal decided that the appellant is required
to register with HMRC and pay a fee to HMRC for all premises where it
had agents carrying on business on its' behalf.
Money Laundering Regulations - re-design and
publication of Public Notice MLR8
MLR8 will no longer be available in hard copy but on the internet only.
We are also considering how we can update the notice so that it gives
specific sectorial guidance.
Penalties for MSBs, HVDs, TCSPs, and
ASPs failing to apply for registration under the Money Laundering Regulations
Penalties will be applied from 1 April 2010 to any MSBs, HVDs, TCSPs
or ASPs which fail to apply for registration with HMRC under the Money
Laundering Regulations.
Publication of advisory note by Financial Action Task Force
(FATF).
HM Treasury have recently published an advisory note following plenary
sessions of the FATF. The note gives an update on countries where the
FATF considered there were deficiencies in standards when dealing with
anti-money laundering and combating financial crime. We recommend that
businesses dealing with overseas countries read this advisory note and
consider as part of their risk based approach to compliance with the
Money Laundering Regulations. The note can be accessed at HM
Treasury website (Opens new window)
Money Laundering Regulations
annual renewal fee
The fee to renew or register with HM Revenue & Customs under Money
Laundering Regulations is currently £120. Please ensure that you send
the correct fee for each premises with your registration or renewal
notice - MLR9 registration guidance will be updated as soon as possible.
Impact of Supreme Court ruling
on sanctions orders
HM Treasury has asked the Supreme Court to delay the recent judgement
relating to freezing assets of terrorists and other groups. Money Service
Businesses should continue their monitoring of the sanctions lists as
usual.
