The U.K.โ€™s financial services regulator will take a more central role as part of the governmentโ€™s plans to simplifyโ€”and improveโ€”efforts to clamp down on money laundering and terrorist financing.

Neil Hodge is a freelance business journalist and photographer based in Nottingham, United Kingdom. He writes on insurance and risk management, corporate governance, internal audit, compliance, and legal...