FCA appointed to AML/CTF supervision across the professions

The FCA has won the support of HM Treasury to consolidate under the regulator responsibility for supervising all Anti-Money Laundering (AML) and Counter-Terrorist Financing (CTF) measures across accountancy, legal, trust, company services and "potentially" other sectors, including estate and letting agencies.

By Neasa MacErlean

This work is now shared across 23 different supervisors such as the accountancy bodies. Consolidation is seen as a "key element of simplification", according to Lucy Rigby, the government minister signing off the decision.