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Legal strategies to tackle fraud in early-stage investments in Asia
In the wake of the recent eFishery scandal early-stage investors are recalibrating their approach to due diligence and risk tolerance.
Corporate Directors: New regulations require identity verification
United Kingdom | Publication | February 2025
On January 20, 2025, regulations were made regarding the identity verification of corporate directors, including those of corporate pension scheme trustees. There is no indication when they will come into force.
The Companies Act 2006, as amended by the Economic Crime and Corporate Transparency Act 2023, will require those involved in setting up and running companies to verify their identity. Verification can be obtained via either the registrar of companies, or by an authorised corporate service provider, according to the procedure set out in the regulations. Once verified, each individual will have a unique identifier allocated to them.
More detail on the verification process, including information that will need to be submitted, will be set out in rules published by the registrar. Companies House will also produce guidance on undertaking successful identity verification checks.
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