News

Government consultation on AML draft statutory instrument

10 September 2025

The UK government is seeking comments on a new draft Statutory Instrument (SI) aimed at closing regulatory loopholes and improving compliance across key sectors.

Following a public consultation on the effectiveness of the Money Laundering Regulations, HM Treasury has proposed targeted amendments to the 2017 framework to address weaknesses in areas such as pooled client accounts, trust registration, crypto asset regulation, and customer due diligence.

The draft Money Laundering and Terrorist Financing (Amendment and Miscellaneous Provision) Regulations 2025 seek to create a more proportionate, risk-based system that remains robust against financial crime while being practical for industry.

HM Treasury is inviting feedback from regulated firms, supervisors, and stakeholders on the clarity and operability of the draft provisions. The consultation is open until 30 September 2025.