The new act, which demonstrates a shift in the UK’s approach to economic crime and corporate governance, is in its first phase of enactment

The Economic Crime and Corporate Transparency Act (ECCTA) is a significant piece of UK legislation that aims to tackle economic crime and improve corporate transparency by strengthening the regulatory framework, increasing accountability and ensuring that companies operate in an open manner. 

“This is one of the most significant moments for Companies House in our long history,” stated Louise Smyth, Chief Executive and Registrar of Companies, referring to the ECCTA’s passing.