The trainer delivers corporate finance and corporate law courses to lawyers and non-lawyers and her style is very interactive and visual. She trained as a corporate finance solicitor at Clifford Chance and qualified there, working on main market floats and takeovers as well as being seconded to Collins Stewart stockbrokers. At Gouldens (now Jones Day), She worked on a variety of AIM transactions including floats, secondary fundraisings and takeovers. During her time at Gouldens, she was seconded to Hanson plc to assist as temporary deputy counsel and with Hanson's European Brick business sale. Since 2003, she has been teaching and training: for the first 8 years at BPP Law School and latterly on a freelance basis for a variety of universities, law firms and training companies. She is a consultant professional support lawyer and a recommended member of the Legal Education and Training Group.
PSC Registers were brought into being by the Small Business, Enterprise and Employment Act 2015 (SBEEA) to enhance ownership transparency of UK companies and increase trust in the UK as a place to do business.
As of 6th April 2016, all UK companies were required to create a PSC Register documenting who are their PSCs or, if the identity or full information of the PSCs is not yet known, to commence investigations. It is a criminal offence not to comply with these new provisions.
As of 30th June 2016, UK companies were required to update a public PSC register at Companies House in the Confirmation Statement which replaced the Annual Return. However, this system has now been replaced by ‘event-driven’ notification to Companies House.
18 moths on and companies are still struggling with this new legislation with many getting it wrong.
What is a PSC? In very basic terms it is a shareholder who owns over 25% of a UK company. However, there are “5 Specified Conditions” including anyone who “holds the right to exercise, or actually exercises significant influence or control over Company Y”. It is this aspect of the legislation which is causing the most concern and difficulty for companies looking to establish who their PSCs are. Note also that there is a proactive obligation on PSCs themselves to notify companies.
If getting your head around the PSC regime was not difficult enough, from 26th June 2017, companies were required to update their registers on an event-driven basis and new entities have been brought into scope due to implementation of the Fourth Money Laundering Directive. The trainer has the latest position from Companies House on this and their approach to enforcement.
This course is essential for anyone wishing to gain an overview of the extensive (and somewhat unwieldy) legislation, statutory guidance, non-statutory guidance and regulations together with some practical advice. The course is relevant to anyone involved with UK companies, whether they are in the UK or overseas.
What Redcliffe’s clients are saying about the course;
“Well structured and presented”
“Very clear, responded knowledgeably to all questions”
“Broke down daunting topics into manageable segments”
“Very good course notes to refer back to”
“Information explained clearly, good work materials and the lecturer was excellent in answering complicated question”