A person with significant control (PSC) is someone who owns or controls a company. If firms identify a discrepancy between the information they gather while carrying out their regulatory obligations on their corporate clients and the information their client has provided on the PSC register, they must report that discrepancy to Companies House or HMRC. We find that firms do not have the required policies and procedures in place to record and report any identified discrepancies.
What does your firm need to do?
The firm needs to have policies and procedures in place to record and report any identified discrepancies.
Common discrepancies
- Name
- Nature of control
- Date of birth
- Nationality
- Country of residence
- Correspondence address
- Notified date
Resources to support compliance
Read the report
Read our 2023/24 anti-money laundering supervision report for more detail on the results of our monitoring reviews.
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