Our Corporate Governance Expert Group contributed to our response to BIS' consultation on the Register of People with Significant Control - Scope, nature and extent of control, fees, the protection regime and warning and restriction notices.
We supported BIS' initiative to consult on the draft regulations needed to finalise the register of people with significant control (PSC Register) and welcomed the opportunity to form part of the PSC Register Guidance Working Group developing the non-statutory guidance on the PSC register.
We noted that it would be useful if the final regulations and guidance were issued for a further complete consultation and views taken on board in order to ensure the widest possible understanding of the regime before it comes into effect.
We encouraged BIS and HM Treasury continue to work for improvement in the 4th Money Laundering Directive to exempt all AIM and ISDX companies from this regime as these are all DTR5 issuers.
Click here to download the response (pdf)