According to Global Witness, 13% of UK companies fail to name “people of significant control”.
From 6 April 2016 UK companies (except listed companies) and limited liability partnerships (LLPs) must hold a register of People with Significant Control (PSC). The PSC register will include information about the individuals who own or control companies including their name, month and year of birth, nationality, and details of their interest in the company.
Global Witness stated that of the 4.1m corporations registered with Companies House, more than 500,000 had not named their “people of significant control”. Companies House said that only 1.5 per cent of the companies on its register were non-compliant with the rules.
Source: FT
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