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Status: You are viewing the version of the handbook as on 2005-06-30.

ML 8.1 Application of this sourcebook

Sole traders

ML 8.1.1R

The only provisions of this sourcebook which apply to a sole trader with no employees are those specified in ML 8.1.2 R.

ML 8.1.2R

Application to certain sole traders (see ML 8.1.1 R)

Chapter

Subject matter

Parts applicable to a sole trader with no employees

ML 1

Application and purpose

The whole chapter

ML 2

The general money laundering duties

The whole chapter

ML 3

Identification of the client

The whole chapter

ML 4

Reporting

Only ML 4.3.4 R applies

ML 5

Findings of deficiencies

The whole chapter

ML 6

Awareness and training

The whole chapter except ML 6.2.1 R (2)

ML 7

The MLRO and other arrangements

Only

ML 7.2

ML 7.3

Except ML 7.2.2 E (1)(a) and ML 7.2.2 E (1)(b) and ML 7.2.2 E (2)

Except ML 7.3.2 R (1)(d) and ML 7.3.2 R (1)(e)

ML 8

Sole traders and authorised professional firms

The whole chapter

Authorised professional firms

ML 8.1.3R

This sourcebook does not apply to authorised professional firms when carrying on non-mainstream regulated activities.