What is the criminality test?
Regulation 26 has introduced a criminality test. It applies to a range of regulated persons, including external accountants.
This means all existing UK MiPs and new UK MiP applicants who are supervised for AML/CTF by CIMA will have to satisfy regulation 26.
It is satisfied by the person in question demonstrating they do not have any unspent convictions for the offences set out in Schedule 3 of the Regulations.