The “Persons with Significant Control” (“PSC”) Register Regulations

Posted: 16th June 2017
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From 26 June 2017 unlisted UK companies and LLPs must keep their “Register of People with Significant Control” continuously updated on the Companies House website. Previously it was only necessary to update Companies House once a year.

If your use for the Register is for undertaking AML checks, it is still necessary to get corporate clients to confirm the register is up to date as well as confirmation from the people named in the register that they agree it is accurate. Regulation 28(9) states that you “do not satisfy your requirements” to check beneficial owners by just relying on a PSC register.

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