Measures have been introduced in Parliament to protect the UK from economic crime. The Economic Crime and Corporate Transparency Bill will reform the powers of the Registrar of Companies with new powers to check remove or decline information submitted to or already on the register. The Bill also tightens the registration and transparency requirements for limited partnerships and enables them to be deregistered if necessary. It will also give law enforcement new powers to seize cryptoassets and enabling businesses in the financial sector to share information more effectively.
Neil Williams deputy head of complex crime at Reeds Solicitors said: ‘Companies house reforms have been long overdue … The new bill would seem to provide much needed powers to bolster the effectiveness of the reforms and to properly enforce them. There will be concerns over the extent and ease by which information can be shared as...
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