Companies House: Guidance relating to ACSPs and ID verification published

On 19 February 2025, Companies House published three sets of guidance in relation to the new authorised corporate services provider (ACSP) regime being introduced under the Economic Crime and Corporate Transparency Act 2023 (ECCTA). This will enable third party agents to file documents for clients at Companies House and conduct identity verification of directors and others. 

The guidance follows the updating of the Registrar’s rules guidance on 5 February 2025 – see further here. Eligible individuals and business entities will be able to apply for registration as an ACSP from 25 February 2025, with individuals being able to seek identity verification via an ACSP from 25 March 2025. 

Companies House has published the following:

• Guidance: Applying to register as a Companies House authorised agent: This sets out who can apply to be an ACSP (all ACSPS must already be registered with an anti-money laundering supervisory body), the information to be provided and the steps following registration. Once a registration application is accepted, Companies House will create an authorised agent account for the business.
• Guidance: Being an Authorised Corporate Service Provider: This sets out the legal responsibilities for being an ACSP, what happens if those legal responsibilities are not complied with and how the authorised agent account set up with Companies House can be used.
• Guidance: How to meet Companies House identity verification standard: This sets out the minimum checks and information ACSPs will need to conduct and obtain to meet Companies House’ identity verification standard to comply with their legal responsibilities as an ACSP when they are verifying the identity of an individual. The evidence and information obtained will have to be kept by the ACSP for 7 years.  

HMT: HMT, FCA and BoE confirm support for transition to T+1 settlement

On 19 February 2025, HM Treasury (HMT), the Financial Conduct Authority (FCA) and the Bank of England (BoE) confirmed that they support the industry recommendation to move to T+1 settlement in UK markets by 11 October 2027, as set out in the Accelerated Settlement Taskforce Technical Group’s report published on 6 February 2025.

Further details are in our Global Regulation Tomorrow post here.