Navigating AML Compliance in 2025: A Practical Guide for Asset Managers

AML and KYC compliance remains a fundamental requirement for asset managers operating in today’s increasingly complex regulatory landscape.

In 2025 - 2026, the complexity of AML and KYC obligations continues to grow. New regulatory developments, particularly in the U.S., are expanding the scope of who must comply and how. Cross-border firms now face a dual challenge: navigating multiple regulatory frameworks while meeting rising investor expectations for robust compliance practices.

Why This Matters Now

The U.S. is on the cusp of implementing one of the most significant AML regulatory expansions in years. Firms that have historically operated without the need for comprehensive AML programs may now find themselves subject to stringent requirements under the upcoming FinCEN AML Final Rule.

At the same time, EU and UK AML frameworks continue to evolve, placing further emphasis on a risk-based approach to due diligence. Firms must now demonstrate not only compliance with relevant regulations but also a clear, documented methodology for assessing risk and applying proportionate controls across varying transaction types, counterparties, and jurisdictions.

Balancing Regulatory Obligations with Commercial Objectives

For asset managers, robust KYC processes are more than regulatory hygiene. They signal to investors and regulators that the firm takes risk management seriously. In a competitive fundraising environment, demonstrating strong controls can directly impact investor confidence.

Practical Help: The 2025 KYC Guide for Asset Managers

To help firms navigate this complexity, we’ve created a practical guide that breaks down:

• A clear overview of the EU, UK, and U.S. AML regulatory frameworks relevant to asset managers

• Guidance on applying simplified, standard, and enhanced due diligence in line with risk levels

• A practical, process-led approach to KYC that balances regulatory requirements with transaction efficiency

• A comprehensive checklist to support legal and compliance teams in documenting and executing their obligations

Download the guide to ensure your firm’s KYC framework is aligned with current expectations — and ready for the regulatory developments ahead.