We have updated our AML Supervision Change – FCA Consultation webpage to reflect the latest developments in the Government’s plans to reform anti-money laundering (AML) supervision across the legal and accountancy sectors.
The update follows HM Treasury’s publication of its June 2026 policy response, which confirms the Government’s intended framework for transferring AML/CTF supervision from the current professional body supervisors to a Single Professional Services Supervisor, to be operated by the Financial Conduct Authority (FCA).
Key additions to the webpage include:
- Details of the Government’s confirmed policy approach to registration, supervision, enforcement and accountability arrangements.
- Information on the FCA’s proposed powers, including inspections, information requests and a risk-based supervisory approach.
- Confirmation that legal professional privilege and existing whistleblowing protections will remain in place.
- Expanded information on how the changes may affect firms in future, including registration requirements and fit and proper testing.
- New FAQs addressing common questions about implementation, FCA registration and the transition process.
- A new “Next Steps” section outlining areas where further detail is expected, including supervisory fees, transition arrangements and implementation timelines.
There is currently no confirmed date for the transfer of AML supervision, and CILEx Regulation remains the AML supervisor for regulated firms during the transition period.
