Competition and Markets Authority’s Post

Closing 16 August, the Competition and Markets Authority consultation on guidance to businesses running trader recommendation platforms is relevant to anyone running such a platform and anyone who might need to find a trader. So pretty much everyone. The guidance explicitly refers to the Consumer Protection from Unfair Trading Regulations but the principles are the same in the DMCC Act. #consumerprotectionlaw #misleadingadvertising #advertisingregulations #cprs #DMCC #ConsumerProtectionfromUnfairTradingRegulations

Trading partnerships Registration of trading partnerships with the Swedish Companies Registration Office. Information about the corporate form Trading partnerships are operated by one or more partners or associates. Partners can be natural or legal persons. In a trading partnership, the partners are personally liable for the business’s contracts and debts. They are jointly and severally liable. This means that a person having a claim on the company can demand payment of the entire amount from any of the partners. The partners are liable for the business’s  debts to the entire extent of their net wealth. A limited partnership is a variant of a trading partnership. In a limited partnership, there is at least one partner whose liability is unlimited, and who is called a general or full partner (komplementär). There is also at least one partner with limited liability who is termed a limited partner or sleeping partner. When you apply to register a trading partnership, you must provide information about the limited partner’s liability....Read more https://lnkd.in/epMkmKP8

Did you know that law firms who use automated payment collection tools can get paid 40% faster than those who don't? Payment collection plays a crucial role in ensuring financial stability and mitigating risks for law firms. This weeks blog looks at the significance of debt recovery and explores some of the benefits that come with incorporating automated tools into your processes. https://hubs.la/Q02yn99z0 #Cashroom #PaymentCollection #LawFirms

This latest update will require companies to report their ownership structures and beneficial owners. It looks like a lot of work but with the right technology, the process can be simplified. We can see this in banks already who conduct KYC and KYB for customers and business verification respectively. Youverify is a global AML compliance solutions provider that help companies verify information on ownership and control and adequately satisfy this new regulation.

Sharing an important change for business with a January 1st time frame for some business. Read more below!

Considering the new US regulations which are also imposed in many other countries, I wanted to note 2 very important notes. 1. Know Your Business AKA KYB, is a service that depending on the country and regulations can be tricky. Company House Authorities firstly not always update their databases, not only timely but most importantly with accurate data and most of the times there are missing data points. A great number of countries often don't allow and/ or provide access or even provide integration to the authorities' databases - making real-time KYB and thus digital onboarding in real-time challenging. Youverify, globally first provides KYB in real-time FOR 50 COUNTRIES and we are adding countries constantly. We also provide consultation and support on how to achieve real-time onboarding and speaking on the subject real-time KYB. In the event that a country in question does not provide/ allow access to Business Registration Authorities, we utilize Global Screening, AML and Sentiment Analysis on the companies themselves to overcome roadblocks of countries' infrastructures not being in place. Local country regulators approve the above method in absence of systems. This allows Youverify to provide the best, most cost effective and most world-wide covered KYB solution in real-time. Please reach out to me to discuss further and book a quick demo, alternatively please register on our website: https://www.youverify.co #youverify #kyb #realtimeonboarding #digitalonboarding #aml #transactionmonitoring #regtech #fintech #merchantservices

Trading partnerships Registration of trading partnerships with the Swedish Companies Registration Office. Information about the corporate form Trading partnerships are operated by one or more partners or associates. Partners can be natural or legal persons. In a trading partnership, the partners are personally liable for the business’s contracts and debts. They are jointly and severally liable. This means that a person having a claim on the company can demand payment of the entire amount from any of the partners. The partners are liable for the business’s  debts to the entire extent of their net wealth. A limited partnership is a variant of a trading partnership. In a limited partnership, there is at least one partner whose liability is unlimited, and who is called a general or full partner...Read more https://lnkd.in/epMkmKP8

Announcing a new era of transparency: Thanks to a new law, many companies will soon be required to report basic information to the U.S. government about who owns and controls them. Click to learn more.   #BeneficialOwnership #FinCENupdates #BOIreporting

Looking to get your invoices paid faster? 💡 Did you know, that law firms who use automated payment collection tools can get paid 40% faster than those that don't? Our automated debt recovery processes help law firm to reduce the likelihood of their invoices becoming overdue. In case you missed it, check out our blog looking at why payment collection is crucial to law firms https://hubs.la/Q02DH9-J0 #Cashroom #PaymentCollection #GetPaid

Prioritizing regulatory compliance is crucial for businesses. It's not just about following the law, but also about safeguarding executives, preserving company reputation, and fostering trust. Compliance is essential for navigating legal complexities, mitigating risks, and promoting ethical business practices. Let's make sure we prioritize #ComplianceMatters, #ExecutiveSafety, #ReputationManagement, #CorporateEthics, #LegalResponsibility, and #RiskMitigation.