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Tightening of PSC Register Requirements Under U.K. Regulations

By: Clare Oliva on Jun 29, 2017 2:41:33 PM

On June 23, 2017, Companies House in the U.K. announced an update to their People with Significant Control (“PSC”) requirements in their efforts to strengthen the U.K. anti-money laundering and terrorist financing measures. As a result of these changes, effective June 26, 2017, PSC information will no longer be updated on the company’s annual confirmation statement. Instead, the company’s PSC Register must be updated within 14 days of the change and the appropriate form (Companies House Forms PSC01 though PSC09) must be filed within 28 days of the change. For more details, see Companies House announcement, “Changes to UK Anti-Money Laundering Measures”.

For more background on the U.K.’s PSC requirements, see our blog article, “What You Should Know About PSC Register Requirements Under U.K.’s Entity Transparency Laws”.

Topics: International Secured Transactions