An EU directive will aim to create improved corporate culture, with new regulations forcing companies to maintain records on beneficial owners.
EU companies that are required to prepare and maintain a People with Significant Control (PSC) register will face further obligations from the end of this month (June 2017).
The EU Fourth Anti-Money Laundering Directive introduced the PSC regime last year, and required qualifying companies to take all reasonable steps to hold "adequate, accurate and current information" about their ultimate beneficial owners on an internal beneficial ownership register.
From 26 June 2017, legal entities will have to file their internal registers with a central beneficial ownership register. The information can be filed online and will include informatio
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