Additional Measures in the Future

[sumaiyakhatun26]

Following the introduction of the Economic Crime (Transparency and Enforcement) 2022 Act (“ECTE ACT”), which came into force on 01 August 2022, the UK Government is now seeking further measures with the introduction of the Economic Crime and Corporate Transparency Bill, which is already past Committee stage in the House of Commons.

The register of overseas entities will be amended to maintain consistency with changes intended to the Companies Act 2006.

Amongst the other far reaching and significant changes intended by the Bill are:

reforms to Companies House including the introduction of identity verification for all italy mobile database new and existing registered company directors
reforms to prevent the abuse of limited partnerships by tightening registration requirements and increasing transparency
additional powers to seize and recover suspected criminal crypto assets by boosting criminal confiscation powers
reforms to give businesses more confidence to share information in order to tackle money laundering and other economic crime
new intelligence gathering powers for law enforcement and removal of nugatory burdens on business.