New Sanctions Checks from 14 May 2025?

Does anybody have a definitive interpretation of the new regulations? These are for Agents to do checks on Tenants and Landlords.

However, it appears to cover only New Tenants and New Landlords, which they call Prospective. If I have been with an agent for several years, do they need to retrospectively check me?

If the tenant has been there for 4 years, do you need to retrospectively check the tenant? Or does it only reply to new tenancies and new Landlords coming to a new Agent?

The Gov website: https://www.gov.uk/government/publications/financial-sanctions-guidance-for-letting-agents/financial-sanctions-guidance-for-letting-agents

Section 4 clearly states: Instructions from prospective landlords or prospective tenants. As an existing Landlord, I would not be a new prospective landlord to my agent? Any ideas?

Or is this just another regulation we have to jump through?

I presume from an agent’s point of view, they would want to check all their clients?

Some say it applies some not?

Bryan