From 6 April 2016, UK companies have been required to maintain a register of persons with significant control over them (a “PSC register”). This requirement is intended to increase the transparency of corporate ownership, by...more
From 24 July 2017, UK companies whose shares are admitted to trade on the London Stock Exchange’s AIM market, and other companies listed on prescribed markets, will no longer be exempt from the requirements to keep and...more
This week, the Fourth Anti-Money Laundering Directive came into force in the UK. Among the changes arising from the transposition of the Directive in the UK has been to broaden the "persons with significant control" (PSC)...more
In April last year, the UK Government introduced changes to the Companies Act 2006 requiring most companies and LLPs to produce, keep and maintain a register of any people or relevant legal entities that have significant...more
On 6 April 2016, changes to the Companies Act 2006 introduced the regime relating to the disclosure of persons with significant control (PSC regime). In brief, the new regime requires unlisted UK companies to take reasonable...more
The UK’s Department for Business, Energy & Industrial Strategy has published a “Discussion paper on the transposition of Article 30 [of the 4th Money laundering Directive]: beneficial ownership of corporate and other legal...more
The U.K. government recently enacted amendments to the U.K. Companies Act 2006, which requires non-listed U.K. companies and limited liability partnerships to maintain and file a register of people with significant control...more
In Depth - From 30 June 2016 all UK companies (other than most listed companies) and LLPs will need to include details of persons with significant control or influence (“PSC”) on their annual confirmation statements...more
On 6 April 2016, amendments to the Companies Act 2006 (the “Act”) came into effect that require companies incorporated under the Act (including companies limited by guarantee) and limited liability partnerships to produce and...more
New UK laws, which came into force on April 6th, impose an obligation publicly to disclose the ultimate beneficial owners or controllers who have "significant control" over UK incorporated companies. The UK is the first...more
From 6 April 2016, UK companies and limited liability partnerships (LLPs) are required to maintain a publicly available register of people with significant control (PSC Register). From 30 June 2016, the information on the PSC...more
Effective immediately, most UK companies, Societates Europaeae and UK Limited Liability Partnerships (LLPs) are required to maintain a register of People with Significant Control (“PSC Register”). Set out below is a brief...more
The New Register - From 6 April 2016, most UK companies, LLPs and Societas Europaea became required to maintain a register of “persons with significant control” (PSCs). A PSC is defined as an individual who ultimately...more
1. With effect from April 6, 2016, all companies incorporated or formed under the UK Companies Acts, other than exempt companies (see paragraph 3), and all limited liability partnerships (LLPs) incorporated under the UK...more