ML 8.1 Application of this sourcebook
Sole traders
The only provisions of this sourcebook which apply to a sole trader with no employees are those specified in ML 8.1.2 R.
Application to certain sole traders (see ML 8.1.1 R)
|
Chapter |
Subject matter |
Parts applicable to a sole trader with no employees |
|
|
Application and purpose |
The whole chapter |
||
|
The general money laundering duties |
The whole chapter |
||
|
Identification of the client |
The whole chapter |
||
|
Reporting |
Only ML 4.3.4 R applies |
||
|
Findings of deficiencies |
The whole chapter |
||
|
Awareness and training |
The whole chapter except ML 6.2.1 R (2) |
||
|
The MLRO and other arrangements |
Only |
||
|
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) |
||
|
Sole traders and authorised professional firms |
The whole chapter |
||
Authorised professional firms
This sourcebook does not apply to authorised professional firms when carrying on non-mainstream regulated activities.