Definition of the Relevant Person – UK AML

Which one of the institutions are obliged to apply UK AML regulations ?

According the to Part 2 , point 8 of the

The relevant persons are as follows

  • (a) credit institutions;
  • (b) financial institutions;
  • (c) auditors, insolvency practitioners, external accountants and tax advisers;
  • (d) independent legal professionals;
  • (e) trust or company service providers;
  • (f) estate agents;
  • (g) high value dealers;
  • (h) casinos.

There are some exlusions for the relevant persons listed in regulation 15:


  • (a) a registered society within the meaning of section 1 of the Co-operative and Community
    Benefit Societies Act 2014 (meaning of “registered society”)(c), when it—
  • (b) a society registered under the Industrial and Provident Societies Act (Northern Ireland)
    1969(a), when it—

    • (i) issues withdrawable share capital within the limit set by section 6(b) of that Act
      (maximum shareholding in society); or
    • (ii) accepts deposits from the public within the limit set by section 7(3) of that Act
      (carrying on of banking by societies);
  • (c) a person who is (or falls within a class of persons) specified in any of paragraphs 2 to 23,
    26 to 38 or 40 to 49 of the Schedule to the Financial Services and Markets Act 2000
    (Exemption) Order 2001(c), when carrying out any activity in respect of which that person
    is exempt;
  • (d) a local authority within the meaning given in article 3(1) of the Financial Services and
    Markets Act 2000 (Regulated Activities) Order 2001(d), when carrying on an activity
    which would be a regulated activity for the purposes of FSMA but for article 72G of that
  • (e) a person who was an exempted person for the purposes of section 45 of the Financial
    Services Act 1986(f) (miscellaneous exemptions) immediately before its repeal, when
    exercising the functions specified in that section;
  • (f) a person whose main activity is that of a high value dealer, when engaging in financial
    activity on an occasional or very limited basis as set out in paragraph (3); or
  • (g) a person preparing a home report, which for these purposes means the documents
    prescribed for the purposes of section 98, 9