The UK’s new mandatory disclosure rules for
unlisted companies are at best another compliance hoop to jump
through. But at their worst, they could be a deterrent to
The rules require that unlisted UK-incorporated companies
compile a register detailing their ultimate owners. From April
2016, this must then be filed with the Registrar of Companies
to be made publicly available.
For many companies this is a straightforward exercise, but
for others, tracking down distant and sometimes anonymous
investors could prove challenging.
"I suspect it may be difficult for some companies, but
it’s really something they should be disclosing
anyway," said Oliver Parry, a senior corporate governance
adviser at the Institute of Directors. "My only criticism