Non-transferable risk and PSC: Difference between pages

Revision as of 09:50, 28 February 2018

Anti money laundering

A PSC is a Person with Significant Control over a company or a limited liability partnership (LLP).

The concept is designed to detect and deter money laundering.

In the UK and other jurisdictions companies and LLPs are required to identify any relevant PSCs and disclose them on the public record.

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-Non-transferable risks are risks which must be borne by an organisation.
+''Anti money laundering''
+A PSC is a Person with Significant Control over a company or a limited liability partnership (LLP).
-Non-transferable risks might be avoided or accepted and retained or reduced as appropriate. In the case of non-transferable business risks (which by definition are not avoided) it is important that the firm has a distinctive competence in the relevant areas.
+The concept is designed to detect and deter money laundering.
-For example, a pharmaceutical company's non-transferable risks would include the risk that failure to gain approval for use of a new drug means that the research and development costs have been wasted.
+In the UK and other jurisdictions companies and LLPs are required to identify any relevant PSCs and disclose them on the public record.
+== See also ==
+* [[Anti money laundering]]
+* [[Company]]
+* [[Know-your-customer]]
+* [[Limited liability partnership]]
+* [[Money laundering]]
-== See also ==
+[[Category:Context_of_treasury]]
-*[[Transferable risk]]
+[[Category:Accounting,_tax_and_regulation]]