The Committee underlines the imperative of implementing beneficial ownership rules and robust reform of Companies House, including new powers for the company registrar to verify information to ensure accuracy as well as discretionary powers to remove corporate entities from the register for wrongdoing and ensure robust identity verification requirements. It is important that beneficial ownership registers are as transparent as possible.

The Committee underlines the imperative of implementing beneficial ownership rules and robust reform of Companies House, including new powers for the company registrar to verify information to ensure accuracy as well as discretionary powers to remove corporate entities from the register for wrongdoing and ensure robust identity verification requirements. It is important that beneficial ownership registers are as transparent as possible. Type: conclusion | Number: 1 | Paragraph: 8 | Response status: accepted Government response: The Government agrees with the Committee’s conclusion. The Government is committed to reforming Companies House, which will be legislated for within the upcoming Economic Crime and Corporate Transparency Bill. Building on the recently enacted Economic Crime (Transparency and Enforcement) Act, the Ec