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Economic Crime and Corporate Transparency Act

The Economic Crime and Corporate Transparency Act 2023 is a comprehensive legislative framework led by the Department for Business and Trade, HM Treasury, and other agencies to combat financial crime and improve corporate transparency. The Act establishes beneficial ownership registers, corporate enforcement mechanisms, and whistleblowing protections, with ongoing implementation through statutory instruments and regulations.

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2026

5 events
24 Apr 2026 | Written question Department for Business and Trade linked

To ask the Secretary of State for Business and Trade, what assessment he has made of the potential merits of conducting a public consultation and review of whistleblowing law as part of the measures a

To ask the Secretary of State for Business and Trade, what assessment he has made of the potential merits of conducting a public consultation and review of whistleblowing law as part of the measures announced in the UK anti-corruption strategy …

▤ View document · ↗ GOV.UK

2025

5 events
3 Mar 2025 | Committee report linked

The Government must review the Modern Slavery Act 2015 and make changes to Section 54 to improve transparency. In particular the Government should: a. Change provision 54(5) such that the areas of reporting in modern slavery statements become mandatory. b. Remove the provision in which companies are allowed to claim to have taken ‘no steps’ to address modern slavery. c. Introduce penalties and name and shame scheme for companies not disclosing Modern Slavery statements. d. Consider the creati...

The Government must review the Modern Slavery Act 2015 and make changes to Section 54 to improve transparency. In particular the Government should: a. Change provision 54(5) such that the areas of reporting in modern slavery statements become mandatory. b. …

▤ View document · ↗ GOV.UK
12 Feb 2025 | Committee report linked

The planned reforms to the role of Companies House leave huge gaps and it is still too easy to register companies fraudulently. The Economic Crime and Corporate Transparency Act 2023 introduces significant changes to the role of Companies House, including new powers to remove inaccurate information from the company register and share data with other government bodies. Prior to the Act, Companies House had limited powers to check the validity of information provided to it, meaning it was easy ...

The planned reforms to the role of Companies House leave huge gaps and it is still too easy to register companies fraudulently. The Economic Crime and Corporate Transparency Act 2023 introduces significant changes to the role of Companies House, including …

▤ View document · ↗ GOV.UK
12 Feb 2025 | Committee report linked

Prior to the introduction of ECCTA in March 2024, Companies House had limited scope to share data or insight with other public bodies such as HMRC. The new measures under ECCTA include the ability to proactively share information with other government departments and law enforcement agencies36. Although Companies House and HMRC said they had been working closely for many years, the organisations told us they are now able to share intelligence with each other with no barriers.37 Companies Hous...

Prior to the introduction of ECCTA in March 2024, Companies House had limited scope to share data or insight with other public bodies such as HMRC. The new measures under ECCTA include the ability to proactively share information with other …

▤ View document · ↗ GOV.UK
12 Feb 2025 | Committee report linked

In March 2024, the first measures of ECCTA came into force. ECCTA introduces significant changes to the role of Companies House which are intended to improve the reliability of the information on the company register and reduce the risk of false registrations. These measures included new powers to check information for company registrations, remove inaccurate information and share information with other government departments and law enforcement agencies.51 Companies House told us it has take...

In March 2024, the first measures of ECCTA came into force. ECCTA introduces significant changes to the role of Companies House which are intended to improve the reliability of the information on the company register and reduce the risk of …

▤ View document · ↗ GOV.UK
12 Feb 2025 | Committee report linked

Some measures introduced under ECCTA will not be fully operational until Companies House develops the necessary systems and capability, or until further secondary legislation is in place. This includes verifying directors’ identities.53 Companies House told us identity verification will be introduced on a voluntary basis from spring 2025 and become mandatory from autumn

Some measures introduced under ECCTA will not be fully operational until Companies House develops the necessary systems and capability, or until further secondary legislation is in place. This includes verifying directors’ identities.53 Companies House told us identity verification will be …

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2024

7 events

2023

3 events

2022

6 events
30 Jun 2022 | Committee report linked

The Government’s unwillingness to bring forward legislation to stem the flow of dirty money is likely to have contributed to the belief in Russia that the UK is a safe haven for corrupt wealth. It is shameful that it has taken a war to galvanize the Government into action. The measures in the Economic Crime (Transparency and Enforcement) Act 2022, while welcome, do not go far or fast enough and do little to address the fundamental mismatch between the resources of law enforcement agencies and...

The Government’s unwillingness to bring forward legislation to stem the flow of dirty money is likely to have contributed to the belief in Russia that the UK is a safe haven for corrupt wealth. It is shameful that it has …

▤ View document · ↗ GOV.UK
2 Feb 2022 | Committee report linked

Reform of Companies House is essential if UK companies are no longer to be used to launder money and conduct economic crime. We welcome the work being done by the Department for Business, Energy and Industrial Strategy and by Companies House to modernise the legal framework and operations of Companies House. However, the pace of change is slow. The problems with UK company structures were identified by the Government in 2014 in the UK Anti-Corruption Plan. While there have been welcome innova...

Reform of Companies House is essential if UK companies are no longer to be used to launder money and conduct economic crime. We welcome the work being done by the Department for Business, Energy and Industrial Strategy and by Companies …

▤ View document · ↗ GOV.UK
2 Feb 2022 | Committee report linked

Waiting until the operational transformation of Companies House is complete risks further delay beyond 2025 if, as with many public sector change and IT projects, 78 Economic Crime unexpected difficulties slow project delivery. Given the urgency of the problem, the Government should seek ways to implement as many reforms as possible sooner, before embedding a full transformation.

Waiting until the operational transformation of Companies House is complete risks further delay beyond 2025 if, as with many public sector change and IT projects, 78 Economic Crime unexpected difficulties slow project delivery. Given the urgency of the problem, the …

▤ View document · ↗ GOV.UK
2 Feb 2022 | Committee report linked

We are disappointed that the Registration of Overseas Entities Bill is still awaiting introduction, more than five years after it was promised, and after scrutiny by a Joint Committee. Improving transparency of ownership of UK property is an important step that needs to be taken in order to improve defences against misuse of UK assets and companies by criminals and kleptocrats.

We are disappointed that the Registration of Overseas Entities Bill is still awaiting introduction, more than five years after it was promised, and after scrutiny by a Joint Committee. Improving transparency of ownership of UK property is an important step …

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2 Feb 2022 | Committee report linked

We urge the Government to include a Registration of Overseas Entities Bill in the Queen’s Speech for the next Parliamentary session. (Paragraph 247) Economic Crime 79

We urge the Government to include a Registration of Overseas Entities Bill in the Queen’s Speech for the next Parliamentary session. (Paragraph 247) Economic Crime 79 Type: recommendation | Number: 56 | Response status: not_addressed Government response: The government agrees …

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2020

1 event