The framework of the people with significant control (PSC) regime, which originally took effect on 6 April 2016, is set out in Part 21A of the Companies Act 2006 (CA 2006), as amended by sections 81–83 and Schedule 3 of the Small Business, Enterprise and Employment Act 2015 and sections 44, 51 and Schedule 2 of the Economic Crime and Transparency Act 2023 (ECCTA 2023). The PSC regime seeks to address issues related to the lack of transparency in business ownership, where traditionally only the legal owner, not necessarily the beneficial owner, of an entity's shares was recorded. The PSC register provides more precise and up-to-date information on who ultimately owns and controls companies and other entities, and this information is publicly accessible through the central registry at Companies House. It is important for PSCs and other relevant legal entities (RLEs) to know what their duties and responsibilities toward the company are. This Practice Note investigates the specific duties of PSCs and other RLEs in relation to the PSC regime. For the purposes of this

The framework of the people with significant control (PSC) regime, which originally took effect on 6 April 2016, is set out in Part 21A of the Companies Act 2006 (CA 2006), as amended by sections 81–83, Schedule 3 of the Small Business, Enterprise and Employment Act 2015 and sections 44, 51 and Schedule 2 of the Economic Crime and Transparency Act 2023 (ECCTA 2023). The PSC regime seeks to address issues related to the lack of transparency in business ownership, where traditionally only the legal owner and not necessarily the beneficial owner of an entity's shares was recorded. The PSC register provides more precise and up-to-date information on who ultimately owns and controls companies and other entities, and this information is publicly accessible through the central register held at Companies House. It helps inform investors when they are considering investing in a company. It also supports law enforcement agencies in money laundering investigations. This Practice Note provides a summary of the offences that may be committed in relation to the PSC regime. Unless specifically noted

This Practice Note provides a series of practical examples and illustrations in relation to the people with significant control (PSC) regime under Part 21A of the Companies Act 2006 (CA 2006), and the requirement to report this information to the Registrar. The framework of the people with significant control (PSC) regime, which originally took effect on 6 April 2016, is set out in CA 2006, Pt 21A, as amended by sections 81–83, Schedule 3 of the Small Business, Enterprise and Employment Act 2015 and sections 44, 51 and Schedule 2 of the Economic Crime and Transparency Act 2023 (ECCTA 2023). The PSC regime aims to address concerns about the opaque nature of business ownership, whereby traditionally only the legal and not necessarily the beneficial owner of an entity’s shares was recorded. The PSC register gives more accurate and current information on who ultimately owns and controls companies and other entities and the information is publicly available on the central registry held at Companies House. It helps inform investors when they are considering investing in a company. It also

This Practice Note provides a practical overview of the people with significant control (PSC) regime and the requirement to report PSC information to the Registrar of Companies. The framework of the PSC regime, which originally took effect on 6 April 2016, is set out in Part 21A of the Companies Act 2006 (CA 2006), as amended by sections 81–83, Schedule 3 of the Small Business, Enterprise and Employment Act 2015 (SBEEA 2015) and sections 44, 51 and Schedule 2 of the Economic Crime and Transparency Act 2023 (ECCTA 2023). The PSC regime aims to address concerns about the opaque nature of business ownership, whereby traditionally only the legal and not necessarily the beneficial owner of an entity’s shares was recorded. The PSC register gives more accurate and current information on who ultimately owns and controls companies and other entities and the information is publicly available on the central registry held at Companies House. It helps inform investors when they are considering investing in a company. It also supports law enforcement agencies in money laundering

The framework of the people with significant control (PSC) regime, which originally took effect on 6 April 2016, is set out in Part 21A of the Companies Act 2006 (CA 2006) (as amended by the Small Business, Enterprise and Employment Act 2015, ss 81–83, Sch 3). The PSC regime seeks to address issues related to the lack of transparency in business ownership, where traditionally only the legal owner and not necessarily the beneficial owner of an entity's shares was recorded. The PSC register provides more precise and up-to-date information on who ultimately owns and controls companies and other entities, and this information is publicly accessible through the central register held at Companies House. This Practice Note considers the rules and guidance in relation to the protection regime whereby PSCs, or the entity in which they have a beneficial interest, can seek to prevent their information being made public. For full details of the current PSC regime and its legislative and regulatory background and links to all relevant guidance and know-how see Practice Note: PSC register—the

The Public Sector Fraud Authority (PSFA) has published the Government Counter Fraud Functional Strategy 2024–2027. The Strategy sets out the Government Counter Fraud Function’s mission and strategic objectives in order to understand, find and stop fraud against the public sector. The Strategy document covers the principles for public sector fraud, questions related to the Government Counter Fraud Function, the changing context of fraud, the Strategy over the next three years and the strategic objectives.

The Pension Scams Industry Group (PSIG) has revealed the results of its recent consultation, ‘Evolution or Extinction’ which sought to determine the organisation's future direction. The feedback indicates strong industry support for PSIG's work, particularly its Code of Good Practice. Respondents called for more proactive measures, including increased lobbying efforts, an interactive information hub, and expanded services such as training and accreditation schemes. However, despite the demand for enhanced services, the industry has not committed to providing funding for PSIG's operations. Looking ahead to 2025, PSIG plans to publish an updated Code of Good Practice, maintain its involvement with the Pension Scams Action Group, and continue offering the Pension Scams Industry Forum. The group will review its options and present a proposal for future operations later in the year.

Law360, On 20 December 2024, the Pensions Scams Industry Group (PSIG) expressed that it will not be able to play a bigger role in raising awareness without funding from the retirement sector.

Law360: The government should prioritise reform to ensure that victims of pension scams are no longer hit with massive tax bills, the Pension Scams Industry Group (PSIG) said on 31 October 2024.

The Pension Scams Industry Group (PSIG) has launched a consultation on the value it provides, its possible future direction, and potential funding options to achieve its objectives. The consultation contains details of services which PSIG either does or could provide and considers funding structures that could be used. The PSIG seeks views from pension trustees, advisers, and administrators as well anyone else with an interest in protecting pension scheme members from scams. Responses to the consultation must be submitted by 31 July 2024.

The Pensions Scams Industry Group (PSIG) has issued a press release stating that the industry is ‘prepared enough’ to get started with dashboards and has urged action.

General damages are awarded for physical and/or psychiatric injury and encompass suffering from the past, present and future. One overall sum is awarded although the damages may be divided into two elements: pain and suffering and loss of amenity (this is the reduction in the ability to perform everyday tasks)