Bhavesh Panchal

The FCA has provided feedback on its 2025 multi-firm review of customer due diligence (CDD), enhanced due diligence (EDD) and ongoing due diligence controls across various regulated sectors. The feedback relates to the following topics: Policies and procedures. CDD and EDD processes. Compliance monitoring and audit. The FCA’s review is part of its wider financial crime supervisory work, with the aim of raising standards and sharing practical insights.

The Financial Conduct Authority (FCA) held a webinar on 18 March regarding its expectations for cryptoasset firms’ anti-money laundering (AML), counterterrorist financing (CTF) and proliferation financing frameworks (AML framework) under the new cryptoasset regime in accordance with the Financial Services and Markets Act 2000 (FSMA).

HM Treasury has just published a consultation paper seeking views on proposed legislative changes to the appointed representatives (AR) regime under the Financial Services and Markets Act 2000 (FSMA). The regime, which allows unauthorised persons to carry on regulated activities under the oversight of an authorised principal firm, remains a key entry point for many firms into the UK financial services market, with approximately 34,000 ARs currently operating under around 2,400 principals.