Chapter MLR3C10165

Published date26 April 2016
Record NumberMLR3C10165
CourtHM Revenue & Customs
IssuerHM Revenue & Customs

All Money Transmitters must be registered with the Financial Services Authority (FSA) to comply with the Payment Services Regulations 2009. The time limit for registration has now expired and all businesses doing money transmission must have either registered themselves, or where they act as an agent of a principal be included as part of their principal’s registration. Any businesses not registered are trading illegally. We have agreed with the FSA that when we carry out an MLR compliance visit we will check whether they have been approved by the FSA for registration under the regulations.

That is the extent of our compliance activity and you do not need to concern yourself with whether the business is otherwise complying with the Regulations. We have been asked however to report any businesses that make use of the FSA logo on their stationery, websites or publicity material. The report in the first instance should be made to RTT who will...

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