Understanding New ACSP Anti-Money Laundering Regulations for Company Directors and How Fundsure Can Help

The UK’s fight against economic crime has taken a significant step forward with the implementation of the Economic Crime and Corporate Transparency Act 2023 (ECCTA). This landmark legislation introduces stricter regulations for company directors and Persons with Significant Control (PSCs), particularly around identity verification and anti-money laundering (AML) compliance. For company directors navigating these changes, partnering with an Authorised Corporate Service Provider (ACSP) like Fundsure can simplify compliance and ensure adherence to the new rules. In this blog post, we’ll break down what these laws mean for company directors and how Fundsure’s expertise can support your business.

What Are the New Laws for Company Directors?

The ECCTA, which received Royal Assent on 26 October 2023, aims to enhance transparency, combat economic crime, and strengthen the reliability of data held by Companies House. A key component of this legislation affects company directors and PSCs, with specific requirements starting in Spring 2025. Here’s what directors need to know:

• Mandatory Identity Verification
  From Autumn 2025, all new and existing company directors and PSCs must verify their identity either directly with Companies House or through an ACSP. This measure is designed to prevent criminals from hiding behind false identities or nominee structures, making it harder for illicit activities like money laundering to go undetected. Existing companies have a 12-month transition period to comply, meaning directors of established businesses must complete verification by Autumn 2026.

• Director Disqualification Sanctions
  The ECCTA introduces a new sanctions measure under the Sanctions and Anti-Money Laundering Act 2018, known as “director disqualification sanctions.” Individuals subject to these sanctions will be prohibited from acting as a company director or participating in the promotion, formation, or management of a company. Violating these sanctions is a criminal offence, reinforcing the importance of compliance.

• Increased Transparency and Accountability
  The Act enhances Companies House’s powers to verify identities, remove fraudulent entities from the register, and share data with law enforcement and other bodies. This means directors must ensure their information is accurate and up to date, as discrepancies can trigger investigations. The legislation also aims to close loopholes that allow opaque corporate structures to facilitate money laundering or terrorist financing.

• ACSP Involvement
  Starting in Spring 2025, third-party providers, such as those offering company formation or identity verification services, must register as ACSPs with Companies House. These providers must be supervised under the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (MLR 2017) and meet strict identity verification standards. For directors, this means working with a registered ACSP like Fundsure to ensure compliance with the new verification requirements.

• Impact on Limited Partnerships
  From Spring 2026, limited partnerships will need to file information through an ACSP and provide more detailed data to Companies House. This is particularly relevant for directors involved in Scottish limited partnerships, which have been flagged for potential misuse in large-scale money laundering.

These changes are part of a broader effort to protect the UK economy from fraud, money laundering, and terrorist financing while maintaining the UK’s reputation as a transparent and business-friendly environment.

Challenges for Company Directors

The new regulations introduce several challenges for directors:

• Time and Complexity: Verifying identities and ensuring compliance with AML regulations can be time-consuming, especially for directors managing multiple companies or complex corporate structures.

• Risk of Non-Compliance: Failure to comply with identity verification or AML requirements could lead to penalties, sanctions, or criminal liability, including director disqualification.

• Increased Scrutiny: With Companies House’s enhanced powers to query information and share data with law enforcement, directors face greater accountability for the accuracy of their filings.

• Transition Period Pressure: Existing directors must act within the 12-month transition period to verify their identities, which may require coordination with an ACSP.

How Fundsure Can Help

As a registered ACSP, Fundsure is well-positioned to guide company directors through these new requirements, ensuring compliance while minimizing disruption to your business.

Here’s how Fundsure can support you:

• Seamless Identity Verification
  Fundsure is authorized by Companies House to conduct identity verification on behalf of directors and PSCs. We use robust, compliant processes to meet Companies House’s identification standards, which differ from the risk-based approach of traditional AML client due diligence (CDD). By handling the verification process, Fundsure saves you time and ensures your details are accurately submitted.

• Expert AML Compliance Support
  Fundsure specializes in governance, risk, and compliance services across the UK. We can help your business establish and maintain AML policies, controls, and procedures as required under the MLR 2017 (where applicable). This includes conducting firm-wide risk assessments, implementing customer due diligence, and appointing a Money Laundering Reporting Officer (MLRO) where necessary. Our expertise ensures your business mitigates money laundering risks effectively.

• Streamlined Company Formation and Filing
  For directors setting up new companies or managing existing ones, Fundsure offers comprehensive services, including company formation, registration, and filing with Companies House. As an ACSP, we ensure all filings meet the ECCTA’s transparency requirements, reducing the risk of errors or regulatory scrutiny.

• Guidance on Director Disqualification Sanctions
  Fundsure can advise on the implications of the new director disqualification sanctions and help you stay compliant to avoid penalties or criminal liability. Our team keeps you informed about your obligations and any updates to the regulatory landscape.

• Tailored Support for Limited Partnerships
  For directors involved in limited partnerships, Fundsure can assist with the additional filing requirements starting in Spring 2026. We’ll ensure your partnership’s information is submitted accurately through our ACSP services, helping you navigate the increased transparency demands.

• Ongoing Compliance Monitoring
  Fundsure provides ongoing support to keep your business compliant with evolving AML regulations. We help you maintain accurate records, update policies, and respond to any Companies House queries, giving you peace of mind as regulations tighten.

Why Choose Fundsure?

Fundsure’s registration as an ACSP demonstrates our commitment to meeting the highest standards of AML compliance and identity verification. Our team of experts is dedicated to simplifying the complexities of the ECCTA and MLR 2017 for company directors. By partnering with Fundsure, you benefit from:

• Expertise: Deep knowledge of UK AML regulations and Companies House requirements.

• Efficiency: Streamlined processes to save you time and reduce administrative burdens.

• Compliance Assurance: Confidence that your business meets all legal obligations, minimizing the risk of penalties or sanctions.

• Tailored Solutions: Customized support for directors, PSCs, and limited partnerships across England, Scotland, Wales, and Northern Ireland.

Next Steps for Company Directors

To prepare for the new laws, directors should take the following steps:

1. Verify Your Identity: Start the identity verification process early, either directly with Companies House (from 8 April 2025) or through an ACSP like Fundsure. Early action avoids last-minute pressure during the transition period.

2. Review AML Policies (if applicable): Ensure your business has a documented AML risk assessment and compliant policies, controls, and procedures. Fundsure can assist with this process.

3. Appoint an MLRO (if applicable): If your business is subject to MLR 2017, appoint a Money Laundering Reporting Officer with sufficient authority and resources to oversee compliance.

4. Partner with an ACSP: Engage Fundsure to handle identity verification, company filings, and AML compliance, ensuring a smooth transition to the new requirements.

Conclusion

The ECCTA and updated AML regulations mark a new era of transparency and accountability for UK company directors. While these changes introduce additional responsibilities, they also strengthen the UK’s defenses against economic crime, benefiting legitimate businesses. Fundsure, as a registered ACSP, is your trusted partner in navigating these reforms. From identity verification to AML compliance and company filings, we provide the expertise and support you need to stay compliant and focus on growing your business.

Contact Fundsure today to learn how we can help you meet the new requirements with ease and confidence. Visit our website or reach out to our team for tailored guidance on the ECCTA and AML compliance.