The UK government has launched a consultation proposing that the Financial Conduct Authority (FCA) should assume responsibility for anti-money laundering and counter-terrorist financing (AML/CTF) supervision of legal, accountancy, and trust and company service providers. Published by HM Treasury on 6 November 2025, the consultation seeks industry feedback on new powers, proposed responsibilities, and legislative changes. The deadline for responses is 11:59pm on 24 December 2025. (Source).
The reform aims to streamline AML/CTF oversight by giving the FCA clear authority over these professional services sectors. According to the proposal, this centralisation is intended to:
- Reduce compliance duplication and related costs
- Enable more consistent enforcement and reporting standards
- Allow faster intervention in cases of regulatory breaches
Currently, several professional bodies act as supervisors for AML/CTF compliance in their respective industries. The proposed changes would see the FCA replace these bodies, aligning supervision with the regulator’s approach used for financial services firms. Feedback is also requested on how to best implement these reforms while maintaining effective safeguards for the affected sectors.
The consultation document highlights potential impacts on payment and withdrawal flows, especially where legal and accountancy services intersect with regulated casino operations. Uniform FCA supervision could lead to clearer expectations for compliance and may affect how payment processes are managed within these sectors.
Those wishing to respond can email their submissions to [email protected] by the stated deadline.
| Key Proposal | Affected Sectors | Consultation Deadline |
|---|---|---|
| FCA to supervise AML/CTF for professional service firms | Legal, accountancy, trust & company service providers | 24 December 2025 |
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