UK AML shake-up - a single supervisory role for the FCA

The UK government has consulted on legislation that will see the current fragmented network of professional services AML/CFT supervisory bodies replaced with a single FCA-led regime. The move could signal tougher scrutiny, higher compliance expectations and significant change for legal and accounting firms. Keith Nuthall speaks to stakeholders in the accounting and legal professions and explains that while there is room for improvement, all-out change does bring with it some valid concerns.