Hogan Lovells

Key Dates

The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017/692 in force on 26 June 2017.

Frequently asked questions (FAQs) published on 9 October 2017.


Summary

The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 came into force on 26 June 2017.  The regulations introduce three new requirements which are relevant to occupational pension schemes:

·         a requirement to keep records about" beneficial owners" under the scheme;

·         a requirement to notify third parties about the trustees' status as trustees and about the scheme's "beneficial owners", in certain circumstances; and

·         a requirement, in some cases, to give information about the scheme and its beneficial owners to HMRC. 

For more details, please see our briefing note.



Date Accessed: 03/12/2021