header-logo header-logo

Home Login E-newsletter About us
11 August 2023 / Julie Norris
Issue: 8037 / Categories: Features , Procedure & practice , Criminal
printer mail-detail

AML: Radical reform on the cards?

© Copyright LexisNexis 2026. All Rights Reserved.
Anti-money laundering supervision is under scrutiny & law firms are urged to make their voices heard: Julie Norris examines the potential options for change
  • Under reforms currently being considered, responsibility for the supervision of anti-money laundering and counterterrorism could be taken away from the Solicitors Regulation Authority and given to a new body, meaning firms could be subject to dual regulation in future.

HM Treasury is consulting on radical structural reform to anti-money laundering (AML) and counterterrorism (CT) supervision in the regulated business sector as part of the government’s wider effort to crack down on dirty money entering the UK. It recently announced it is gathering feedback on four new potential supervision models, with the stated objectives of, among other things, selecting one that enhances the effectiveness of supervision and improves coordination across the system.

While any changes introduced will impact an array of regulated businesses including accounting firms, barristers’ chambers and conveyancers, it is clear some of the proposals would be more far-reaching for law firms than others. Whichever

If you are not a subscriber, subscribe now to read this content
If you are already a subscriber sign in
...or Register for two weeks' free access to subscriber content

MOVERS & SHAKERS

Read All
Sponsored by
London Solicitors Litigation Association—John McElroy

London Solicitors Litigation Association—John McElroy

Fieldfisher partner appointed president as LSLA marks milestone year

Kingsley Napley—Kirsty Churm & Olivia Stiles

Kingsley Napley—Kirsty Churm & Olivia Stiles

Firm promotes two lawyers to partnership across employment and family

Foot Anstey—five promotions

Foot Anstey—five promotions

Firm promotes five lawyers to partnership across key growth areas

NEWS
Read All
NLJ this week: Divorce ‘nuclear weapon’ freezes assets but entangles outsiders
Freezing orders in divorce proceedings can unexpectedly ensnare third parties and disrupt businesses. In NLJ this week, Lucy James of Trowers & Hamlins explains how these orders—dubbed a ‘nuclear weapon’—preserve assets but can extend far beyond spouses to companies and business partners 
NLJ this week: What counts as ‘rent’? Court says labour alone won’t do
A Court of Appeal ruling has clarified that ‘rent’ must be monetary—excluding tenants paid in labour from statutory protection. In this week's NLJ, James Naylor explains Garraway v Phillips, where a tenant worked two days a week instead of paying rent
Your magistrates’ court needs you!
Thousands more magistrates are to be recruited, under a major shake-up to speed up and expand the hiring process
NLJ this week: Freed but failed—justice system leaves the innocent empty-handed
Three men wrongly imprisoned for a combined 77 years have been released—yet received ‘not a penny’ in compensation, exposing deep flaws in the justice system. Writing in NLJ this week, Dr Jon Robins reports on Justin Plummer, Oliver Campbell and Peter Sullivan, whose convictions collapsed amid discredited forensics, ‘oppressive’ police interviews and unreliable ‘cell confessions’
NLJ this week: Clarity on whistleblowing, settlements and tribunal limits
A quiet month for employment cases still delivers key legal clarifications. In his latest Employment Law Brief for NLJ, Ian Smith reports that whistleblowing protection remains intact even where disclosures are partly self-serving, provided the worker reasonably believes they serve the ‘public interest’ 
Copyright © 2026 LexisNexis
back-to-top-scroll