FCA to become sole AML/CTF supervisor for 60,000 firms
The government is integrating professional services into the FCA’s AML/CTF supervisory framework to improve efficiency and simplify a complex regulatory regime.
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HM Treasury has published a consultation on reforms to the UK’s anti-money-laundering (AML) and counter-terrorist financing (CTF) supervisory regime, which runs until June 30.
The proposals set out the creation of a Single Professional Services Supervisor (SPSS), with the FCA identified as the preferred future supervisor for parts of the