The FCA as single AML supervisor for professional services
When does the FCA take over AML supervision of legal, accountancy and trust or company service providers?
2 records since 18 June 2026 · last moved 7 September 2026 · next 2027/28
The matter file · as at 26 October 2026
The FCA will become the single AML supervisor for legal and accountancy services and for trust or company service providers. It will replace OPBAS and the professional-body supervisors. The change needs primary legislation. The Government expects the first firms to move before the end of 2028, and all firms in scope by mid-2030.
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Position over time
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The Government expects the FCA to supervise the first firms before the end of 2028, and all in-scope firms by mid-2030.
Timeline
- 18 June 2026UKregulatoryAML & financial crimeSupervision & standardsStage moved
FCA to become the single professional-services AML supervisor
HM Treasury's government response confirms the FCA will replace OPBAS and the professional-body supervisors as the single AML supervisor.
Primary source: HM Treasury ↗ - 7 September 2026 · +81 daysUKregulatoryAML & financial crimeSupervision & standards
Government gives a timetable for FCA AML supervision of professional services: first firms before end-2028, all in-scope firms by mid-2030
The Government expects the FCA to begin supervising the first legal, accountancy and trust or company service businesses before the end of 2028, and all in-scope firms by mid-2030.
Primary source: House of Lords (Government reply, Lord Pitt-Watson) ↗