This Practice Note provides information on the role of the Nominated Officer and the MLRO in a firm authorised by the Financial Conduct Authority (FCA) or firm registered with the FCA for Money laundering (ML) purposes (which are often, but not always, performed by the same individual) under the UK’s anti-money laundering (AML), counter terrorist financing (CTF) and counter proliferation financing (CPF) legal and regulatory regime. It sets out:

1. •

   the relevant Requirements of:

   1. ◦

      the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017, SI 2017/692 (MLRs)

   2. ◦

      the Senior Managers, Systems and Controls sourcebook in the FCA’s Handbook (SYSC)

2. •

   the appointment, approval and conduct of the MLRO as a Senior Manager under the FCA’s Senior Managers and Certification Regime (SM&CR) (SMF17)

3. •

   guidance on the role of the MLRO in:

   1. ◦

      the FCA’s Financial Crime Guide (FCG)

   2. ◦

      Joint Money Laundering Steering Guidance (JMLSG)

4. •

   the legal requirements in the MLRs, the Proceeds of Crime Act (POCA 2002) and Terrorism Act 2000 (TA