News

Government announces future changes to AML regulation

11 November 2025

Back in 2023, the Treasury ran a consultation proposing reform of the anti-money-laundering (AML) supervision regime. It included four different options for change.

Following this consultation, HM Treasury has published its decision to make the Financial Conduct Authority (FCA) the single professional services supervisor for anti-money laundering and counter-terrorism financing. This means that the 22 private sector professional bodies that currently supervise legal and accountancy services – including us – will ultimately no longer do this work.

We have made significant progress in recent years increasing and improving our approach to anti-money laundering supervision, making sure we are proactive and targeted, while supporting compliance. We are disappointed we won’t be able to build on that work.

The government has now opened a consultation on proposals for the key duties, powers, and accountability mechanisms that the FCA will need. It asks respondents for their views on whether these are the right changes to make to supervisory powers.

We will work closely with the FCA, government and all other stakeholders to make sure there is a smooth transition to the new arrangements. In the meantime, we will continue our work to make sure solicitors and law firms are doing all that is needed to keep dirty money out of our society.

View the proposals and respond to the consultation.

You can also view our latest AML annual report, which details the action we have taken in the last year.