Key measures introduced include:
➡️The requirement for new directors to verify their identity when being appointed to an existing company or to incorporate a new one;
➡️The need for existing directors to verify their identity when their next confirmation statement is filed over 12 months; and
➡️People with significant control are required to verify their identity within 12 months of the commencement date.
✅Firms should review their identification and verification and ultimate beneficial owner discovery controls, ensuring they take full advantage of the increasing reliability of Companies House disclosures.