In this episode, we discuss the government's proposed review of the current AML supervisory regime. At the moment, AML-regulated firms are overseen by almost 30 different supervisory bodies ranging from larger statutory bodies like the FCA and smaller professional bodies. The government is proposing a restructure of these bodies make it more efficient and to prevent any superviosory gaps as commited to within its Economic Crime Plan 2023-26. Consultation closes on 20th September so don't miss your chance to have a say.
Useful links
The report - Reform of the Anti-Money Laundering and Counter-Terrorism Financing Supervisory Regime: Consultation
The survey - Reform of the Anti-Money Laundering and Counter-Terrorism Financing Supervisory Regime survey