Company data – the full picture for legal professionals
Following the Panama Papers scandal, introduction of the PSC register, and increasingly complex ownership structures, Chris Bull talks to Roger Carson and Wayne Johnson about why getting a grip on company data has been so critical.
The leak of the Panama Papers serves as a forceful reminder to corporate lawyers to business leaders, and to professionals the need to grasp quickly the facts of complex ownership structures and to determine ultimate beneficiaries. The challenge starts with locating individual records: details of the company or legal entity, its directors, and its shareholders. In the UK we are fortunate to have Companies House, a single entity, managing the data, but even when dealing with a single registry, the task of unpicking complex structures is made difficult by individuals bent on obfuscation.
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