ECSH83575 - Suspension and cancellation: circumstances in which suspension or cancellation may be considered appropriate - HMRC internal manual

ECSH83575 - Suspension and cancellation: circumstances in which suspension or cancellation may be considered appropriate

Suspension or cancellation may be considered in the following circumstances:

We are satisfied that a Money Service Business (MSB)/Trust or Company Service Provider (TCSP) or any other person mentioned in regulation 58(1) in relation to that business, is not a fit and proper (F&P) person for the purposes of 聽of the Money Laundering, Terrorist Finance and Transfer of Funds (Information on the Payer) Regulations 2017 (MLR 2017).
It appears that any of the criteria in 聽MLR 2017 apply (e.g. that a requirement to provide correct and timely registration-related information has not been complied with, the business has failed to pay a fee, charge, or penalty, or where we have reasonable grounds to suspect the regulations, will not be complied with), see ECSH83585.
The business has failed to comply with any requirements of a Notice under 聽MLR 2017 (notice to request information), see ECSH83590.
Where a business registered under MLR 2017 has failed to provide the additional information under regulation 57 within the period of 12 months from when the regulations came into force.
The business is an MSB, providing a payment service in the UK or purporting to do so, and is not included in the of payment service providers and is not a person mentioned in (PSRs) for whom or of the PSRs applies.