IPA statement on today’s announcement of AML supervision reform

21 October 2025

As you may have seen, the Government has today announced a range of new measures related to regulation.

Among these is a proposal for the Financial Conduct Authority (FCA) to assume responsibility for supervising legal, accountancy and trust and company service providers for Anti-Money Laundering (AML) and Counter-Terrorist Financing (CTF) purposes. This proposal has been put forward following the conclusion of HM Treasury’s 2023 consultation on reforming the UK’s AML/CTF supervisory regime.

The IPA is considering these proposed changes carefully and will work with the FCA and other stakeholders to understand the impact on our members and the insolvency profession more widely.

We will keep our members informed of relevant developments. At the moment, a further consultation is planned on the potential powers and duties for the FCA in assuming these responsibilities.