FCA AML Audit
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The FCA’s High-Stakes AML Takeover of the Legal Sector
The transition from SRA to FCA oversight for AML represents an “architectural reset” of the UK legal regulatory climate. While the 2017 Regulations remain unchanged, the move to a “Single Professional Services Supervisor” replaces the SRA’s collaborative, guidance-based approach with the FCA’s assertive, data-driven enforcement. This shift aims to eliminate the fragmented supervisory landscape that…
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The FCA is Coming: Why Your Next AML Audit is the Most Critical One Yet
A “changing of the guard” is underway in the world AML supervision. As recently reported by the Law Society Gazette, the UK government is moving toward a single supervisory model, with the FCA set to take over AML oversight from the SRA and other professional bodies. For many law firms, the reaction has been a…