On 29th May, Companies House issued a release about a consultation document released on 5th May on changes proposed in respect of corporate transparency and reform of the register. The package of reforms is described as a big milestone for Companies House and will be the most significant change since the register was created in 1844. The proposals include –
- that directors, people with significant control (PSC) and those filing information should have their identity verified;
- whether more information should be disclosed about shareholders;
- extending the powers of Companies House to query information and making it easier to remove inaccurate information;
- to change the way it stores and controls access to personal information; and
- to see the exchange of intelligence with other organisations made easier so it can quickly identify possible criminal behaviour.
Responses are required by 5th August.
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