Regulatory News July 2026

Regulation and Conduct News July 2026

15 Jul 2026

Find out about our new ICAEW Regulatory Board members. Read Practice Assurance insights from our quality assurance reviewers plus access resources and updates relevant to your role.

Share effective anti-money laundering and economic crime measures

13 Jul 2026

The UK is preparing for its upcoming Financial Action Task Force (FATF) mutual evaluation and HM Treasury is seeking real-world case studies that demonstrate how the UK’s economic crime framework delivers results in practice.

Respond by 7 September.

2027 Probate and oaths fees consultation

13 Jul 2026

Recognising inflationary and other pressures on registered firms and to continue delivering our programme of activity to fulfil our objectives under the Legal Services Act, we propose a 1% increase to 2027 probate and oaths accreditation fees and a 95% reduction in the levy. Please review the information provided and respond to our proposed budget, fee and levy levels for 2027 by 14 August 2026.

PII implications for firms and members relocating abroad

10 Jul 2026

Before you consider moving abroad and plan to continue to practise in the UK or serve UK clients, you need to check if you still need compliant professional indemnity insurance (PII). Obtaining ICAEW-compliant cover can become more difficult once you or your firm are based overseas because insurance is regulated by territory. Follow the guidance provided to find out what you need to know.

Pre-packs and regulation: 17 years of scrutiny and reform

10 Jul 2026

For more than 17 years, pre-pack administrations have been the subject of regulatory scrutiny and reform. Allison Broad, Head of Insolvency Monitoring at ICAEW, examines the evolution of SIP 16 oversight, highlights common issues identified through regulatory reviews, and considers what the Insolvency Service’s 2026 changes mean for practitioners and future monitoring.

Evidence requirements for registering as a tax agent

09 Jul 2026

New guidance is available for when you are applying as a tax agent with HMRC. Ensure your processes are up to date.

Practice Assurance Monitoring Report 2026 webinar – insights from our reviewers

09 Jul 2026

In our recent webinar on ICAEW's Practice Assurance Monitoring Report 2026, Dean Neaves, Senior Manager, Quality Assurance Department, joined Quality Assurance Reviewers Dan Bevington and Hilary Barrett to discuss findings from more than 2,000 reviews completed in 2025. While the report highlights recurring areas requiring attention, the results show that most firms are meeting expected standards, with high levels of compliance, positive feedback on the monitoring process and strong awareness of cyber security risks.

Have your say on proposed changes to LeO Scheme Rules for complaints handling

08 Jul 2026

ICAEW-accredited probate firms are invited to respond to the Office for Legal Complaints’ consultation on proposed changes to the Legal Ombudsman’s Scheme Rules, case fees and publication of decisions. Share your views by midday on 2 September 2026.

ICAEW appoints three new Regulatory Board members

08 Jul 2026

We are pleased to introduce three new members of the ICAEW Regulatory Board (IRB): Jane Fowler, Marina Gibbs and Julie Hendry. They began their initial three-year terms at the start of July, with Jane joining as a non-lay member and Marina and Julie joining as lay members.

RI applications: changes to the audit experience table

01 Jul 2026

The application form for responsible individuals (RIs) has been updated to include more reflection on how well an applicant demonstrates core auditing behaviours. ICAEW’s Elaine Griffiths, Director of Regulatory Practice, and Helena Murray, Head of Regulatory Practice (Audit), discuss the changes and what they mean for firms and RIs.

Changes to the Money Laundering and Terrorist Financing Regulations 2026 now in effect

01 Jul 2026

Parliament has approved the Money Laundering and Terrorist Financing (Amendment) Regulations 2026, introducing 15 targeted reforms to strengthen the UK’s AML regime while reducing unnecessary compliance burdens on firms. The amendments came into effect on 30 June 2026.

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Regulatory and Conduct news July 2026

A round-up of regulatory news items

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