Following the Panama Papers scandal, introduction of the PSC register, and increasingly complex ownership structures, Chris Bull talks to Roger Carson and Wayne Johnson about why getting a grip on company data has been so critical.
The leak of the Panama Papers serves as a forceful reminder to corporate lawyers to business leaders, and to professionals the need to grasp quickly the facts of complex ownership structures and to determine ultimate beneficiaries. The challenge starts with locating individual records: details of the company or legal entity, its directors, and its shareholders. In the UK we are fortunate to have Companies House, a single entity, managing the data, but even when dealing with a single registry, the task of unpicking complex structures is made difficult by individuals bent on obfuscation.
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ABOUT CHRIS BULL | LEGAL INDUSTRY ADVISOR
Chris Bull is the founding Director of professional services advisory firm Kingsmead Square, working with professional service firm leaders as a retained advisor on strategy, operations, transformation and delivering their business plans.
He has a number of Retained Advisory and NED roles in the sector and is KPMG’s ambassador for the professional practices sector. He has been a leading pioneer in professional firm business management for 20 years, with experience in legal, accounting, consulting, financial services and outsourced services organisations.
Founded in 2011 by entrepreneurs Roger Carson and Wayne Johnson, and operating from the UK, encompass is the creator of unique, innovative Know Your Customer (KYC) software for banking, finance, legal and accountancy that enable better, faster commercial decisions. The company is driven by the belief that the best decisions are made when people understand the full picture.
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