Firms that held the permission for the regulated activity of ‘advising on investments’ automatically had their permissions varied to add the new regulated activity of ‘advising on peer to peer (P2P) agreements’ from 6 April 2016. This regulated activity can be seen on the Financial Services Register.
If your firm does not require this permission, you have until 31st December 2016 to remove it via the short form to remove the permission. Any applications to remove this permission after 31st December must be submitted using the Variation of Permission application form in the Connect system.
Trust Registration Service – update
John Begg Compliance 2017, 2020, 2021, EU, ML, Pension, PI, Register, transfer, Update
New rules, transposing the Fifth Money Laundering Directive (5MLD) into UK law took effect on 10 January 2020. One impact of the rules was to broaden the scope of the Trust Registration Service (TRS) requirements. you can read more about 5MLD and TRS here. In brief, the previous rules required that all express trusts that […]