Izabella Brooks discusses new identity verification requirements in the FT Adviser
Izabella’s article was published in the FT Adviser, 7 April 2025, and can be seen here.
In an article for the FT Adviser, Izabella Brooks, Associate, explores the implications of new identity verification measures introduced within the financial services sector.
She highlights how these regulatory updates are reshaping compliance practices, impacting client onboarding processes, and presenting both challenges and opportunities for financial advisers.
Will new identity verification requirement reform Companies House?
Designed to reduce economic crime and support national security by improving the transparency of UK corporate entities, significant reforms to the role of Companies House form the centrepiece of the Economic Crime and Corporate Transparency Act 2023 (ECCTA).
It will introduce some of the biggest reforms to Companies House since company registries establishment in 1844.
As part of a wider legislative package, the ECCTA’s primary objective is to prevent the abuse of corporate structures and allegedly award the registrars a stronger role in making the UK “a great place to do business”.
Targeted at companies, limited partnerships, other types of corporate entity, and the registration of overseas entities, it further aims to enhance the integrity of the UK’s corporate landscape by providing more accurate information on the public register.
The ECCTA reforms come into force in stages. Arguably, their central objective is to enable the transformation of Companies House from being a passive collector of information to an active gatekeeper, which is equipped with robust powers to combat financial crime and further ensure the accuracy of company data.
Read the full article here: Will new identity verification requirement reform Companies House? (FT Adviser)
