The Money Laundering and Terrorist Financing (Amendment) Regulations 2026
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Change 1
30 Amendment of regulation 52A (obligation of confidentiality)
In regulation 52A— (a) in paragraph (2), for “credit institution or financial institution” substitute “credit institution, financial institution or cryptoasset business”; (b) in paragraph (3)(a)(iii), for “credit institutions and financial institutions” substitute “credit institutions, financial institutions and cryptoasset businesses”; (c) in paragraph (3), after sub-paragraph (d), insert— (da) where the FCA is the supervisory authority, unless disclosure is otherwise permitted by this regulation, in accordance with sections 348 (restrictions on disclosure of confidential information by FCA, PRA etc.) and 349 (exceptions from section 348) of FSMA where those sections shall apply for the purposes of this sub-paragraph subject to the modifications in paragraph (3A). ; (d) after paragraph (3), insert— (3A) Section 348 of FSMA is to be read as if— (a) in subsection (1), for any reference to “a primary recipient” or “the primary recipient” there were substituted “the FCA”; (b) in subsection (2)(b)— (i) for “the primary recipient” there were substituted “the FCA”; (ii) for the words from “, the PRA” to the end of that subsection there were substituted “under the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017”; (c) subsection (2A) were omitted; (d) in subsection (3)(a), for “this Act” there were substituted “the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017”; (e) subsections (5) to (8) were omitted; (f) any reference to “primary recipient” in regulations made under section 349 of FSMA were a reference to “the FCA”. ; (e) in paragraph (4)(a)— (i) for “a credit institution or a financial institution” substitute “a credit institution, a financial institution or a cryptoasset business”; (ii) for “credit institutions or financial institutions” substitute “credit institutions, financial institutions or cryptoasset businesses”; (f) in paragraph (4)(b)— (i) in the opening words, for “credit or financial institution”, substitute “credit or financial institution or cryptoasset business”; (ii) in paragraph (i), for “credit institutions or financial institutions” substitute “credit institutions, financial institutions or cryptoasset businesses”; (iii) in paragraph (ii), for “credit institutions or financial institutions” substitute “credit institutions, financial institutions or cryptoasset businesses”; (g) in paragraph (7), for “credit institutions or financial institutions” substitute “credit institutions, financial institutions or cryptoasset businesses”.
30 Amendment of regulation 52A (obligation of confidentiality)
In regulation 52A— (a) in paragraph (2), for “credit institution or financial institution” substitute “credit institution, financial institution or cryptoasset business”; (b) in paragraph (3)(a)(iii), for “credit institutions and financial institutions” substitute “credit institutions, financial institutions and cryptoasset businesses”; (c) in paragraph (3), after sub-paragraph (d), insert— (da) where the FCA is the supervisory authority, unless disclosure is otherwise permitted by this regulation, in accordance with sections 348 (restrictions on disclosure of confidential information by FCA, PRA etc.) and 349 (exceptions from section 348) of FSMA where those sections shall apply for the purposes of this sub-paragraph subject to the modifications in paragraph (3A). ; (d) after paragraph (3), insert— (3A) Section 348 of FSMA is to be read as if— (a) in subsection (1), for any reference to “a primary recipient” or “the primary recipient” there were substituted “the FCA”; (b) in subsection (2)(b)— (i) for “the primary recipient” there were substituted “the FCA”; (ii) for the words from “, the PRA” to the end of that subsection there were substituted “under the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017”; (c) subsection (2A) were omitted; (d) in subsection (3)(a), for “this Act” there were substituted “the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017”; (e) subsections (5) to (8) were omitted; (f) any reference to “primary recipient” in regulations made under section 349 of FSMA were a reference to “the FCA”. ; (e) in paragraph (4)(a)— (i) for “a credit institution or a financial institution” substitute “a credit institution, a financial institution or a cryptoasset business”; (ii) for “credit institutions or financial institutions” substitute “credit institutions, financial institutions or cryptoasset businesses”; (f) in paragraph (4)(b)— (i) in the opening words, for “credit or financial institution”, substitute “credit or financial institution or cryptoasset business”; (ii) in paragraph (i), for “credit institutions or financial institutions” substitute “credit institutions, financial institutions or cryptoasset businesses”; (iii) in paragraph (ii), for “credit institutions or financial institutions” substitute “credit institutions, financial institutions or cryptoasset businesses”; (g) in paragraph (7), for “credit institutions or financial institutions” substitute “credit institutions, financial institutions or cryptoasset businesses”.
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