Opportunity to use the new Companies House PSC Discrepancy Reporting Service in private beta

"Would you be interested in using the new private beta service to submit your reports?," the Companies House is asking as it continues its user research for its Fifth Money Laundering Directive project. 

Those that have already taken part in research sessions previously, are being asked to volunteer again, with their feedback said to help shape the development of this service. 

According to Companies House, it is particularly interested in volunteers who currently report PSC discrepancies using the existing SmartSurvey solution. 

This online service enables obliged entities, such as company formation agents, financial institutions and estate agents, who are required, under the Fifth Anti Money Laundering Regulations, to report discrepancies in the PSC register kept at Companies House with the information they have been given about beneficial owners of entities they are undertaking customer due diligence on.

This is a legal requirement on the obliged entities and the service enables discrepancy reports to be given online to enable an efficient reporting and feedback loops for those caught by the legislation.

To volunteer for the Companies House latest survey, or if you would like more information, please email Lee Robins at Companies House: lrobins@companieshouse.gov.uk with 5MLD private beta as the title of the email.

The Fifth Anti-Money Laundering Directive (5MLD) came into force in the UK on 10 January 2020, through the Money Laundering and Terrorist Financing (Amendment) Regulations 2019.