Regulatory and Conduct news February 2025

On 24 February, the UK Government designated 67 individuals and entities and specified 40 vessels under the Russia Sanctions Regime. One existing designation under the Russia Sanctions Regime has been varied.

The Financial Action Task Force has added Lao PDR and Nepal to the list of jurisdictions subject to increased monitoring but removed the Philippines.

ICAEW's regulatory and disciplinary committees are looking for lay and accountant members, probate practitioners, insolvency practitioners and technical applicants. These are remunerated roles and applicants are welcome from all backgrounds and from various levels of experience.
Apply by 17 March 2025.

ICAEW welcomes the Legal Services Board’s (LSB) consultation on guidance for the new regulatory objective of ‘promoting the prevention and detection of economic crime’. We are the largest accountancy professional body supervisor in the UK for AML compliance and as a Supervisory Authority, we support the government’s efforts to prevent economic crime and welcome the measures introduced by the ECCTA 2023.

HMRC published its sectoral AML risk assessment for trust and company service providers, which are at a high risk of money laundering. Firms should use this to help them prepare their own firm-wide risk assessment.

This booklet contains a sanitised summary of feedback from law enforcement agencies (LEAs) on their use of SARs.