Towards implementation of The Economic Crime and Corporate Transparency Act (2023)
The Economic Crime and Corporate Transparency Act (ECCTA), enacted in October 2023, represents a major reform of the UK’s corporate and economic crime framework. The Act reshapes the UK’s corporate landscape by embedding transparency, accountability, and enforcement powers into company law, to create an economically safer corporate environment.
The implementation of ECCTA follows a timeline designed to balance the need for reform with practical considerations. The government has a structured roll out plan across multiple phases, with full implementation expected by 2027, reflecting the scale of transformation required, involving approximately 50 statutory instruments.
Improve corporate transparency and ensure accurate company information.
Strengthen Companies House as an active regulator.
Tackle economic crime with stronger investigative and enforcement powers.
Enhance business trust in the UK as a safe and transparent market.
Companies House Reform: Mandatory ID checks, stronger powers to query and reject filings.
Corporate Criminal Liability: “Failure to prevent fraud” offence and expanded senior manager accountability.
Information Sharing: Stronger intelligence sharing between businesses and law enforcement and other authorities.
Cryptoassets: Powers to seize, freeze, and recover criminal cryptoassets.
Providing corporate governance best-practice and company secretarial services to companies.
Equiniti is a leader in securing voting and participation in shareholder meetings and corporate transactions.
Distributing your dividends, managing your meetings and keeping your shareholders and investors engaged.
