OPBAS’s latest report warns that despite progress across 41,000+ firms, PBSs still fshow gaps in AML enforcement and intelligence sharing, urging sharper action as the FCA takes on direct supervision

OPBAS reports that while professional-body supervisors (PBSs) overseeing lawyers and accountants are generally more effective than at any point since 2018, weaknesses persist in areas such as enforcement action, supervisory consistency and intelligence-sharing. The watchdog also raises concerns that the dual role of some bodies as both membership organisations and AML supervisors may limit their willingness to take robust disciplinary action, as the UK prepares to transition to a simplified supervisory model in which the FCA…