AML/CTF/CPF
Industry News
The guidance aims to provide clarity on the criteria for UK businesses disclosing their beneficial owners (BOs).
Key points include:
➡️ Central PSC Register: Clarifies that Companies House now maintains the sole statutory PSC register, and companies are no longer required to keep their own local version;
➡️ Identity Verification Requirements: Sets out how PSCs, directors and LLP members must complete Companies House identity verification so that companies can meet their statutory filing obligations; and
➡️ PSC information: Clarified expectations for the information PSCs must supply to businesses so that they can meet their reporting requirements.
✅ Firms should review their ownership discovery controls, incorporating the updated guidance to ensure UBO registers are comprehensive and align with heightened regulatory expectations.
