Economic Crime and Corporate Transparency Act
The Economic Crime and Corporate Transparency Act is reshaping the way UK companies operate—and we’re here to help you stay ahead.
As a registered Authorised Corporate Service Provider (ACSP), FCLS offers identity verification and compliance support for directors, PSCs, and anyone filing on behalf of a company. We guide you through the new requirements with clarity and care, ensuring your clients meet their obligations without the hassle. With our expert support and updated FirstOrder Secretarial software, you’re always one step ahead of the changes.
The legislation introduces new responsibilities for company officers and those involved in corporate filings, including mandatory identity verification for directors and People with Significant Control (PSCs). These changes are designed to improve transparency and reduce economic crime—but they also bring added complexity. That’s where we come in. Our ACSP status means we’re authorised to carry out identity checks on your behalf, helping you stay compliant without disrupting your workflow.
Economic Crime and Corporate Transparency Act
Whether you’re managing a portfolio of companies or advising clients on their obligations, our service is designed to make compliance simple. We provide a seamless identity verification process, integrated with our FirstOrder platform, and backed by a team who understands the practical realities of corporate governance. With FCLS, you get more than just a tick-box solution—you get a trusted partner who helps you navigate regulatory change with confidence.
Our ECCTA Compliance Services Include:
- Identity verification for directors
We carry out identity checks on new and existing company directors, ensuring full compliance with the new verification requirements. - Identity verification for People with Significant Control (PSCs)
We verify PSCs on your behalf, helping you meet the new transparency obligations without delay. - ACSP-authorised filings
As a registered Authorised Corporate Service Provider (ACSP), we can submit filings that require verified identities directly to Companies House. - FirstOrder Secretarial software integration
Our platform supports seamless identity verification and filing management, helping you stay compliant with minimal disruption. - Ongoing compliance support
We keep you informed of upcoming changes and ensure your clients remain compliant as the legislation evolves.
Frequently asked questions
What is the Economic Crime and Corporate Transparency Act 2023?
The Economic Crime and Corporate Transparency Act 2023 is a UK legislation aimed at enhancing corporate transparency and combating economic crime.
How does the Economic Crime and Corporate Transparency Act affect businesses?
The Act imposes stricter compliance requirements on businesses, ensuring they maintain transparency in their operations and financial dealings.
What are the key provisions of the Economic Crime and Corporate Transparency Act 2023?
Key provisions include enhanced reporting requirements, measures to prevent money laundering, and increased penalties for non-compliance.
What is corporate transparency compliance?
Corporate transparency compliance refers to the adherence to regulations that require businesses to disclose certain information about their operations and ownership.
How can businesses ensure compliance with the Economic Crime and Corporate Transparency Act?
Businesses can ensure compliance by conducting regular audits, updating their reporting practices, and seeking expert legal advice.
What are the penalties for non-compliance with the Economic Crime and Corporate Transparency Act?
Penalties for non-compliance can include fines, legal action, and reputational damage.
Who is affected by the Economic Crime and Corporate Transparency Act?
All businesses operating in the UK, including corporations, partnerships, and sole traders, are affected by this legislation.
What is the role of FCLS Group Limited in relation to the Economic Crime and Corporate Transparency Act?
FCLS Group Limited provides expert guidance and services to help businesses navigate the requirements of the Economic Crime and Corporate Transparency Act.
What resources are available for understanding the Economic Crime and Corporate Transparency Act?
Resources include government publications, legal advisories, and consultancy services like those offered by FCLS Group Limited.
How does the Economic Crime and Corporate Transparency Act relate to UK economic crime legislation?
The Act is part of a broader framework of UK economic crime legislation aimed at preventing financial crimes and promoting corporate accountability.