UK PLANS REFORM OF COMPANIES REGISTER

On 5th May, Bloomberg reported that Companies House has plans to change the corporate registration system to increase the transparency of company ownership and management information while protecting personal data to prevent fraud.  Directors will be able to suppress personal details such as addresses, whilst making it clearer who is setting up, managing and controlling companies, improving the accuracy and usability of data on the register, and improving information sharing on company accounts to ensure “faster and more sophisticated identification of possible criminal activity.  The consultation was launched on 5th May

https://www.bloomberg.com/news/articles/2019-05-04/u-k-to-reform-companies-register-to-protect-data-of-executives

https://repairschematic.com/uk-plans-biggest-overhaul-of-companies-house-in-170-years/

https://www.gov.uk/government/news/businesses-and-consumers-to-be-given-increased-protections-from-criminal-activity

https://www.gov.uk/government/consultations/corporate-transparency-and-register-reform

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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