Commentary

A7.119 Money Laundering Regulations—record-keeping

Administration and compliance

A7.119 Money Laundering Regulations—record-keeping

A7.119 Money Laundering      Regulations—record-keeping

Every firm carrying on relevant business is      required to keep the following records:

  1.  

    •     a copy of any documents and information obtained by the      'relevant person' (see A7.115) to satisfy the customer due      diligence requirements under the 2017 Regulations

  2.  

    •     sufficient supporting records (consisting of the original      documents or copies) in respect of a transaction (whether or not the      transaction is an occasional transaction) which is the subject of      customer due diligence measures or ongoing monitoring to enable the      transaction to be reconstructed1

The records must be kept for

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