Changes to the professional body supervisors regime for anti-money laundering

Posted on24 April 2026

Under The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 there are currently 22 organisations that regulate compliance with anti-money laundering and counter-terrorism financing rules. For the legal profession this includes, CILEX, Council of Licensed Conveyancers, General Council of the Bar and the Law Society.

The Government is planning to centralise supervision in this area and move the regulation function to the Financial Conduct Authority. This will be for anti-money laundering and counter-terrorism financing only. The other functions of the legal regulators will remain unchanged.

This will require a legislative change which is expected around May 2027 with full implementation expected in late 2028.

The FCA are keen to engage with the profession and is inviting firms and practitioners to participate in the design of the new supervision model. If you would like to assist with the FCA’s research you can express your interest via this form. The deadline for expressions of interest is 1 May 2026.

Additional information can also be found on the Law Society’s website at: Changes to the UK anti-money laundering supervisory regime | The Law Society.

As your local law Society, we are also here to represent member interests. In you have any feedback or concerns on the proposal regulatory change please get in touch.

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