HM Treasury (HMT) has launched a consultation on proposed reforms to the UK’s anti-money laundering and counter-terrorist financing (AML/CTF) supervision regime. The proposals would designate the Financial Conduct Authority (FCA) as the sole AML/CTF supervisor for legal, accountancy, and trust and company service providers (TCSPs), replacing the current framework involving 22 Professional Body Supervisors (PBSs) and aspects of HMRC’s supervisory role. The consultation closes on 24 December 2025

HM Treasury (HMT) has issued a consultation and call for evidence on the Bank Referral Scheme (BRS), inviting responses by 22 December 2025. The exercise examines how the scheme, which requires major lenders to refer small and medium-sized enterprise (SME) customers rejected for finance to designated finance platforms, could be improved to increase access to finance and reduce barriers for smaller firms.

HM Treasury (HMT) has launched a consultation on proposed reforms to the civil enforcement processes of the Office of Financial Sanctions Implementation (OFSI), aimed at improving the efficiency, transparency and effectiveness of financial sanctions enforcement in the UK. Key proposals include the introduction of a settlement scheme for monetary penalties, an Early Account Scheme (EAS) to allow subjects to provide a full factual account early in investigations, a streamlined process with indicative penalties for minor breaches such as reporting or licensing offences, updates to OFSI’s public guidance on case assessments and penalty discounts for voluntary disclosure and cooperation as well as changes to statutory penalty maximums. These reforms would apply only to OFSI’s civil enforcement powers in relation to financial sanctions and the UK Maritime Services Ban and Oil Price Cap and would not affect criminal enforcement or non-financial sanctions. Responses are sought by 13 October 2025.

As part of considering the lessons learned following the failure of Silicon Valley Bank (SVB) in March 2023, HM Treasury (HMT) is consulting on proposals to enhance the UK’s resolution regime for banking institutions (banks, building societies, and PRA-designated investment firms). Under the proposals, a new mechanism would be introduced to facilitate the use of certain existing stabilisation powers to manage the failure of small banks. This would enable certain associated costs to be met by industry rather than the taxpayer. The consultation seeks feedback on the proposed source of funds and scope of application. Responses are sought by 7 March 2024.

HM Treasury has launched a consultation seeking views on the value case for a UK Green Taxonomy as part of the UK’s wider sustainable finance framework. Responses are sought by 6 February 2025.

HM Treasury (HMT) is consulting on the effectiveness of the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (MLRs), which place requirements onto a range of businesses to identify and prevent money laundering and terrorist financing. Responses are sought by 9 June 2024.

The Transition Plan Taskforce (TPT) has announced that its mandate has been extended by HM Treasury (HMT) until at least 31 July 2024, with a possible further extension of three months to end of October 2024, in order to support the Transition Finance Market Review (TFMR), which was launched on 22 January 2024.

HM Treasury (HMT) has extended the deadline for its consultation on the Phase 3 Exposure Draft for Task Force on Climate-related Financial Disclosure (TCFD)-aligned disclosure in annual reports. The consultation now closes on 26 September 2024.

HM Treasury (HMT) has announced the first use of its domestic counter-terrorism financial sanctions regime targeting Northern Ireland related terrorism. A full asset freeze has been imposed on Brian Sheridan, an individual suspected of facilitating terrorism and associating with members of the New Irish Republican Army (New IRA). The sanctions, implemented under the Counter-Terrorism (Sanctions) (EU Exit) Regulations 2019 (SI 2019/577), extend to companies controlled by Sheridan, including Brisher Ltd. This action prohibits all UK persons and entities from maintaining any direct or indirect financial relationship with Sheridan or his associated companies without a licence from HMT, effectively freezing all funds and economic resources owned, held, or controlled by him in the UK.

HM Treasury (HMT) has issued a Money Laundering Advisory Notice for high risk third countries. The notice contains advice about risks posed by jurisdictions with unsatisfactory money laundering and terrorist financing controls and sets out which jurisdictions will be included in the upcoming amendment to Schedule 3ZA of the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017, SI 2017/692. These countries listed as high risk replicate the list by the Financial Action Task Force (FATF) as high risk or under increased monitoring.

HM Treasury (HMT) has launched a consultation seeking views on proposals for the design and administration of the UK carbon border adjustment mechanism (CBAM). The government announced that it would introduce CBAM from 1 January 2027 on imports of certain carbon intensive imported goods. The consultation is seeking views from interested parties, including importers and their agents, other businesses, individuals, tax advisers, trade and professional bodies. The consultation closes at 11.59pm on 13 June 2024.

HM Treasury (HMT) has issued a call for evidence to explore potential changes to the credit union common bond requirement in England, Scotland and Wales. Responses are due by 6 March 2025.