24/06/2026
🖌️ The publication of the Government’s AML/CTF Supervision Reform consultation response marks a significant milestone for the accountancy profession and the wider AML supervisory framework.
The response confirms the Government’s intention for the PPI Complaints Deadline, Financial Conduct Authority to become the AML supervisor for accountancy, legal and trust and company service providers, creating a single supervisory model designed to deliver greater consistency, transparency and risk-based oversight across the sectors.
At the IAB, we have engaged closely throughout this process and welcome the clarity that this announcement provides for firms, members and the profession as a whole.
While the supervisory landscape is changing, the core principles remain the same. Strong compliance, robust systems, evidence-led decision making and a genuine understanding of risk will continue to be essential.
Over recent years, the IAB has invested heavily in preparing members for a more data-driven and outcomes-focused environment, including the development of AML Complete and the strengthening of our supervisory approach. These investments were made because we recognised the direction of travel and the increasing expectations being placed on firms.
📌 As further detail emerges on implementation and transition arrangements, we remain committed to supporting our members through the changes ahead and ensuring they are well positioned to operate successfully within the future framework.
We will be reviewing the consultation response in detail and will provide further updates and guidance to members in due course.