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U.K. Adopts Public Register of People with Significant Control Over U.K. Corporations

Think you can hide behind a corporate shell in order to avoid notoriety? Think again if you own a company or L.L.P. formed in the U.K. These entities are now being required to maintain a statutory register setting out the individuals who are considered “persons with significant control,” and beginning in July, the registers are to be made available to the public. Naomi Lawson and Melanie Jory of Memery Crystal, London, explain of this new, transparency-seeking legislation and provide commentary on the multitude of potentially adverse consequences.

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