FCA Cancels HR Bank Limited Registration Under UK Money Laundering Rules

The UK Financial Conduct Authority has cancelled the registration of HR Bank Limited as an Annex I financial institution under the Money Laundering Regulations 2017.

The cancellation took effect on 7 September 2026. The FCA said the company had failed to comply with regulatory requirements and had not responded to repeated contact from the authority.

The action was taken under regulation 60(3)(b) of the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017. The FCA also cited the firm’s failure to comply with First and Second Notices issued under regulation 66.

Annex I financial institutions are businesses carrying out certain financial activities that fall within the UK’s AML supervisory framework even where they are not authorised firms for wider financial-services purposes. Registration brings obligations under the Money Laundering Regulations, including requirements around customer due diligence, risk assessment, record keeping and internal controls.

The cancellation means HR Bank Limited is no longer registered with the FCA in this capacity. The regulator’s notice focuses on the firm’s failure to engage with supervisory requirements rather than alleging a separate criminal money-laundering offence.

The action illustrates that regulatory engagement is itself an important part of AML supervision. Firms that fail to respond to information requests or formal notices can lose the registration required to conduct regulated activities, even without a separate enforcement finding that laundering occurred.