ECSH44025 - The register: contents: introduction to the register

Introduction to the register

HMRC is required under regulation 54(2) of the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (MLR 2017) to maintain a register of Money Service Businesses (MSBs), Trust or Service Company Providers (TCSPs), High Value Dealers (HVDs) and Payment Service Providers.  Regulation 55(3) MLR 2017 also allows HMRC to maintain a register of Art Market Participants (AMPs), Accountancy Service Providers (ASPs), Estate Agency Businesses (EABs) and Letting Agency Businesses (LABs).

Regulation 55(5) MLR 2017 provides for HMRC to keep the register in any manner as it sees fit.  In practice, HMRC maintains a single register of businesses it supervises, known as the Supervised Business Register (SBR). Further guidance on the register can be located at ECSH44075.

Purpose of the Register

• Identify the businesses it supervises so that HMRC can supervise them effectively
• Enable the public to check if a business that is conducting relevant activity is registered for supervision.
• Enables a supervised business, such as a HVD, to comply with their customer due diligence obligations dealing with another HVD.
• Provide law enforcement authorities with information on the businesses HMRC supervises.