The PSC regime is not new, having created obligations on UK limited companies and UK LLPs (LLP) to maintain a register of persons with significant control (PSC) since June 2016. What is new, and is of significance to private...more
Important reforms designed to increase the transparency of the ownership and control of UK companies and English law LLPs were introduced in the UK on 6 April 2016. Among the most significant of these was a requirement for UK...more
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
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
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
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
The Register of People with Significant Control (the “Register”) is a new statutory register which most UK companies and limited liability partnerships (“LLPs”) will be required to keep to ensure that individuals (and certain...more
From 6 April 2016, UK companies must identify and maintain a public register of persons with significant control. Those persons must supply companies with necessary information or face criminal and other penalties....more
As noted in the Corporate & Financial Weekly Digest edition of February 5, the UK Government on January 25 published two regulations in relation to new requirements for UK-incorporated companies and UK-formed limited...more
The Small Business, Enterprise and Employment Act 2015 introduces important reforms by the UK Government aimed at increasing transparency over the ownership and control of UK companies and English law LLPs. One of the most...more
The Corporate & Financial Weekly Digest edition of January 8 discussed draft guidance published by the UK Government’s Department for Business, Innovation and Skills (BIS) in December 2015 on the meaning of persons with...more
On January 25, the UK Government published two regulations in relation to new requirements for UK-incorporated companies and UK-formed limited liability partnerships (LLPs) to keep a register of people with significant...more
UK companies and LLPs will be required to keep a register of people with “significant control” over the company (the “PSC Register”) from 6 April 2016 which will be publically accessible and will need to be filed at Companies...more