In our response to the 2023 consultation response, we emphasised that AML supervision must be proportionate and led by sector expertise to remain effective.
While the FCA’s new remit does not extend to property agency businesses, we will continue to engage with Government to ensure that AML regulation for agents remains practical, risk-based, and clearly understood.
Read the consultation outcome on GOV.UK →
What this means for property agents
Estate and letting agency businesses will remain registered with HMRC for AML/CTF supervision, with the same requirements for reporting and record-keeping. There are no new fees or registration processes to complete because of these reforms.
The new model only affects supervision for other professional sectors, but Propertymark will continue to monitor developments as the UK Government and FCA implement the new structure.
Implementation and next steps
The reforms will require primary legislation, meaning any changes will take time to come into effect. Planning is already underway between HM Treasury, the FCA, and existing supervisors (including the Office for Professional Body Anti-Money Laundering Supervision and HMRC) to ensure a smooth transition.
A further consultation is expected in November 2025 on the powers and duties of the FCA in its expanded role. We will review this carefully and highlight any implications for agents.
Supporting members with AML compliance
Members can access guidance, training, and templates to help agents meet their AML responsibilities and prepare for any future updates to the regulatory framework.
- Our AML Factsheet, a practical summary of key obligations under the Money Laundering Regulations
- How to comply with the Money Laundering Regulations (estate agents) guide, a detailed guide tailored to estate and letting agents
- AML compliance training and webinars
- Regular updates through Propertymark insight and member newsletters.
