Raising Standards for consumers - Compliance and Enforcement report 2020 to 2021
Any changes in these key positions should be communicated to the Commission and where applicable the incumbent should submit a personal licence application.
Changes include, but are not limited to:
- where a key person has left
- details of who will be taking over the former key person’s position
- details of any relevant experience, qualifications, skills, knowledge and expertise that the new person holds
Further reporting requirements include:
- informing the Commission of the appointment of the officer responsible for the operator’s compliance with the Regulations within 14 days of such an appointment
- submitting suspicious activity report (SAR) key event to the Commission whenever the operator submits a SAR to the UKFIU
- reporting any information that they know relates to or suspect may relate to the commission of an offence under the Act, including an offence resulting from a breach of a licence condition or a code provision having the effect of a licence condition
- reporting any information relating to cases where they encounter systematic, organised or substantial money lending between customers on their premises, in accordance with the ordinary code provisions on money lending between customers
- reporting any actual or potential breaches by the licensee of the requirements imposed by or under Parts 7 or 8 of the Proceeds of Crime Act 2002 (opens in new tab), or Part III of the Terrorism Act 2000 (opens in new tab), or any UK law by which those statutes are amended or superseded.
Nominated Officer role requirements Next section
Last updated: 8 December 2021
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