Earlier this month, Richard spoke during the debate on the Economic Crime & Corporate Transparency Bill. The Bill aims to deliver a suite of wider-ranging reforms to tackle economic crime and improve transparency over corporate entities. It will deliver reforms to Companies House; reforms to prevent the abuse of limited partnerships; additional powers to seize and recover suspected criminal cryptoassets; reforms to give businesses more confidence to share information in order to tackle money laundering and other economic crime and new intelligence gathering powers for law enforcement and removal of nugatory burdens on business.
Contributing to the debate on Lords Amendments to the Bill, Richard Fuller MP said:
Overall this is a strong Bill that has broad cross-party support in Parliament.
My only major concern is the additional, and I believe unnecessarily intrusive corporate reporting obligations that will be placed on small and micro businesses, requirements that they have been exempted from previously.
Richard's contribution can be watched here.
For more information on the Bill, please visit https://www.gov.uk/government/publications/economic-crime-and-corporate-transparency-bill-2022-factsheets/fact-sheet-economic-crime-and-corporate-transparency-bill-overarching
