Fit and proper checks for accountancy firms under AML rules

19 Jun 2026

Major changes ahead as Financial Conduct Authority set to take over anti money laundering (AML) supervision of professional services firms

Government confirms Financial Conduct Authority will take over supervision of anti money laundering (AML) at accountancy and law firms with extended checks set to be introduced and a possible start date of late 2027.

Under the new anti money laundering (AML) supervision framework, accountancy institutes like ICAEW, ICAS and ACCA will no longer be responsible for compliance and their current role as professional body supervisors (PSB) will be removed, although there will be a reasonable transition period.

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