Government hands anti-money laundering powers to the FCA

CIMA on UK’s move to transfer AML/CTF supervision to FCA

Chartered Institute of Management Accountants (CIMA) has stated that although the UK government’s announcement to transfer AML/CTF supervision to FCA is not the outcome of what it recommended, it recognises the complexity of the present supervisory landscape.   The UK government had announced to make Financial Conduct Authority (FCA) the supervisor for Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) for legal, accountancy, and tr…

AML regime responsibility to pass to FCA amid 'blitz on pointless admin'

The government have announced the responsibility for regulating the anti-money laundering and counter terrorist financing regimes will pass to the financial conduct authority

HMT consultation response: Reform of the Anti-Money Laundering and Counter-Terrorism Financing Supervision Regime

On 21 October 2025, HM Treasury (HMT) published its response to its 2023 consultation on reform of the anti-money laundering/counter-terrorist financing (AML/CTF) supervision regime. The consultation response summarises the responses from stakeholders and sets out the government’s decision to consolidate responsibility for AML/CTF supervision of legal, accountancy and trust and company service providers through the creation of the Single Profess…

Government hands anti-money laundering powers to the FCA

The government’s reform of anti-money laundering and counter-terrorism financing supervision will significantly change and diminish the roles of the legal regulator and HMRC. Today, the Treasury revealed the outcome of its consultation on reforming anti-money laundering and counter-terrorism financing supervision, primarily for professional services, by creating a Single Professional Services Supervisor (SPSS), with the Financial Conduct Authori…

Government strips SRA of anti-money laundering powers

Responsibility for AML and counter-terrorism financing supervision will pass to the Financial Conduct Authority.