Part

Small Mortgage and Insurance Intermediaries: Part I - General Rules

Chapter

Financial Crime

Printed on: 19/12/2024

Rulebook at: 09/09/2005

MIGI 15

Financial Crime

MIGI 15.1

Introduction

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MIGI 15.1.1

handbook-guidance
One of our statutory objectives under the FSMA is to reduce financial crime. This chapter explains how our rules aimed at reducing financial crime apply to mortgage and insurance intermediaries.
  • 31/05/2005

MIGI 15.2

Financial Crime

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What action does your firm have to take in relation to financial crime?

MIGI 15.2.1

handbook-guidance
Our money laundering rules, which are set out in the Money Laundering sourcebook (ML), do not apply to mortgage intermediaries or to insurance intermediaries carrying on insurance mediation activities relating to general insurance and pure protection contracts. However, your firm is still required to maintain appropriate safeguards against financial crime and to comply with the general legal requirements relating to money laundering. Under the Senior Management Arrangements, Systems and Controls sourcebook (SYSC) (see Part I, Chapter 3) an FSA authorised firm must ensure that it maintains adequate systems and controls to counter the risk of that firm being used to further financial crime.
  • 01/12/2004

MIGI 15.2.2

handbook-guidance
The following chapters of this Guide are also relevant:
  • 01/12/2004