ECCTA 2023: UK PSC regime reforms - abolition of company PSC registers, identity verification (PSCs and RLEs), and expanded Companies House notifications

Published by a LexisNexis Corporate expert

Practice notes

The Economic Crime and Corporate Transparency Act 2023 (ECCTA 2023)

ECCTA 2023 obtained Royal Assent on 26 October 2023 and is being introduced in phases across a series of commencement dates. A number of its measures will not take effect until detailed secondary legislation and guidance are set, while others require new technical systems and tools before they can operate. The Act’s core aims are to deter the misuse of UK corporate structures for crime and terrorism, enhance the UK’s broader response to economic crime, and support enterprise by improving the efficiency of the UK’s companies registry, including the reliability of its data. Since 6 April 2016, companies (and certain other types of entity) have been obliged to gather and record details of people with significant control (PSCs). The PSC framework was created to ensure accurate, current information is available on who ultimately owns and controls specified entities, thereby informing potential investors and assisting law enforcement agencies with investigations. While most provisions concerning companies also apply, with modifications, to other entities within scope...

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Web page updated on 21/05/2026

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