The Department of Business, Energy and Industrial Strategy (BEIS) has opened a consultation on ‘Corporate transparency and register reform’. This considers wide ranging and radical reforms.
Its reform proposals cover:
- The type of information companies to disclose with Companies House.
- Increasing ID checks on directors and persons of significant control, allowing third party agents to make ID checks, monitoring those who are setting up companies.
- Measures to improve the exchange of intelligence between Companies House and UK Law Enforcement bodies.
- New penalties for certain failures and to prevent abuse.
- Measures to protect personal information.
BEIS is seeking the views of everyone, its lists the following people and organisations:
- Directors of companies
- Business representative bodies
- Wider civil society groups
- Academics and think tanks
- Members of the public
Responses by 9 August 2019
As this is a fairly hefty consultation document, BEIS have provided the consultation questions via an online ‘survey’ which simplififies the process of making a response.
BEIS consultation Response survey
BEIS consultation: Corporate transparency and register reform