We oversee the Bar in complying with the relevant rules to prevent money laundering. We have today published our annual report for the 2025/26 fiscal year, setting out the actions that we have taken to counter money laundering and terrorist financing.
All barristers have to declare at Authorisation to Practise (when they renew their practising certificate annually) whether they engage in work that falls within the scope of the Money Laundering Regulations. BSB entities must do the same on authorisation and annual renewal.
This report sets out how we are meeting our responsibility as a professional body supervisor under the Money Laundering Regulations. It highlights themes emerging from our supervision work that will assist barristers when reviewing their own controls.
Phil Golding, Director General, The Bar Standards Board said:
“As we prepare for transition of supervisory responsibility to the Financial Conduct Authority (FCA), we must ensure that barristers, chambers and BSB entities continue to meet their obligations under the Money Laundering Regulations and that controls remain strong and effective. Our website is regularly updated and contains information to help barristers to comply with the Regulations. We will be working closely with the FCA to ensure that risk is managed effectively in this transition period.”
