Transparency and Trusts: The implications of the new PSC Register for trustees

Posted by: Diana Davidson and Christine Payne Smith | Date posted : 15/09/2016

Recently there has been a succession of initiatives aimed at increasing the transparency of asset-holding structures.  The rate at which these proposals have been announced, together with the administrative burdens they impose, may have left some with a sense of ‘information overload’.  However, as the penalties for failing to comply with the new obligations can be severe, it is vital that adequate consideration is given to them.  An important example of this is the position of trustees in relation to the new PSC register regime which this note considers.

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This publication is a general summary of the law. It should not replace legal advice tailored to your specific circumstances.

© Farrer & Co LLP,  September 2016