A government review of People with Significant Control (PSC) regulations in 2019 concluded that the PSC register 'is meeting its objectives'. The costs to business have been proportionate and in line with the original estimates. 

The Parliamentary Under-Secretary of State for Business, Energy and Industrial Strategy (BEIS), Kelly Tolhurst, summarised the findings ahead of publishing the government's report on the statutory post-implementation review of the People with Significant Control (PSC) regulations

This has been the first review since the register was established. BEIS notes that register is widely used, has a positive economic effect and contributes to the fight against criminal use of companies.

The report notes the importance of ensuring the reliability of the PSC register information and says that this is 'being considered and will be addressed as part of the wider review of the corporate transparency and register reform.'

The PSC regulations therefore remain in their current form and BEIS will continue to monitor the operation of the register. The next statutory post-implementation review of the PSC regulations will be carried out within the next five years.

A copy of the post-implementation review report will be laid before Parliament.

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