Tag: FCA AML Audit
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FCA AML Audits: The Regulator May Change, but the Risk Will Not Divide Neatly
The FCA is expected to take over direct AML supervision, but legal regulators will retain wider professional oversight. Conveyancing risks will not divide neatly between them.
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The FCA Is Set to Take On Legal Sector AML Oversight: What It Means for Law Firms
The UK government announced that the FCA will start supervising anti-money laundering (AML) for legal professionals by late 2028, unifying oversight previously handled by multiple bodies. FCA AML audits are on the way. The transition mandates stricter compliance standards and emphasises effective control measures, urging law firms to prepare well in advance.