The UK Government has confirmed its decision to transfer anti-money laundering (AML) supervision from the current 22 accountancy and legal regulators, including CILEx Regulation, to a Single Professional Services Supervisor (SPSS). This role will be undertaken by the Financial Conduct Authority (FCA).
In its consultation response published on 21 October 2025, the Government outlined that implementation will require:
- Agreement on the FCA’s delivery plan, and
- Primary legislation, which will depend on parliamentary scheduling.
CILEx Regulation highlighted this development in its October 2025 newsletter to ensure CILEX members and supervised firms are aware of the changes.
The original consultation on reforming AML and counter-terrorist financing supervision was launched on 30 June 2023.
- Original consultation paper
- CILEx Regulation response – submitted 29 September 2023.
The current consultation runs from 6 November to 24 December 2025, and CILEx Regulation is actively reviewing the proposals with the intention of responding to all 28 questions posed.
What This Means for You
- No Immediate Change: CILEx Regulation will continue to act as your AML supervisor until the transition is complete.
- Future Supervision by FCA: Once legislation is passed and the FCA’s delivery plan is agreed, AML supervision for professional services will move to the FCA.
- Impact on Processes: Expect changes to reporting requirements, compliance checks, and guidance once the FCA assumes responsibility.
- Stay Informed: We will share updates on timelines and practical implications as soon as they are confirmed.
- Your Input Matters: If you have views on the consultation, consider submitting a response before 24 December 2025.
FAQs
- When will the FCA take over AML supervision? There is no confirmed date yet. The transition depends on parliamentary time for passing legislation and agreement on the FCA’s delivery plan.
- Do I need to change anything now? CILEx Regulation remains your AML supervisor until the transition is complete. Continue to follow current requirements.
- Will my firm’s AML obligations change under the FCA? Yes, there may be changes to processes and reporting requirements. Details will be shared once the FCA publishes its framework.
- How can I respond to the consultation? You can submit your views directly to the Government consultation before 24 December 2025.
- Will CILEx Regulation still provide AML guidance? Yes, we will continue to provide guidance and support until the FCA has taken over AML supervision.
- Where can I find updates? Updates will be published on our website and in member newsletters as further information becomes available.
