Question to the Department for Business, Energy and Industrial Strategy:

To ask the Secretary of State for Business, Energy and Industrial Strategy, what steps the Government is taking to identify (a) the incorporation of legal entities not within the scope of the persons of significant control regime and (b) other such money laundering risks related to trends in company activity.

Legal entities not in scope of the persons of significant control regime are entities which are outside the UK’s framework of company and partnership law. The relevant incorporation rules will be set in the relevant legislation. They may be subject to separate regulatory process and oversight, for example by the Charities Commission or the Financial Reporting Council, or exist by will of Parliament, such as legal entities in the health and education sectors and other government arm’s length bodies.

The UK’s most recent National Risk Assessment was published on 26 October 2017.