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<p>We are aware of the report provided by LSE, University of Warwick and the Centre
for Public Data. We consider its methodology to be highly misleading. It has arbitrarily
used a different definition of ‘beneficial owner’ from that in the Economic Crime
Act 2022. This means that it counts as ‘non-compliant’ many overseas entities who
have provided the required information.</p><p> </p><p>As of 7 September 2023, over
29,000 overseas entities have registered with Companies House. So far, over 1,200
warning notices have been issues to unregistered overseas entities. Warning notices
are a pre-cursor to the imposition of a financial penalty. Financial penalties to
the value of around £660,000 have so far been issued. The Government currently has
no plans to publish a list of unregistered entities.</p>
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