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People with Significant Control fact sheet

17th February 2016

From 6th April 2016 all UK companies will be required to maintain a new register of People with Significant Control (“PSC register”).

The register was introduced by the Small Business, Enterprise and Employment (SBEE) Act 2015 and the aim is to increase transparency and reduce financial crime such as money laundering. Failure to comply with these new legal requirements is a criminal offence.

To find out more about the register and what you are required to do to comply with the legislation please read our fact sheet.

For further information on this briefing please contact Linn-Marita Sen,  editor of this publication.

 

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