Vistra survey exposes ECCTA readiness shortfall

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country.The survey highlights that more than half of company directors admit their organisations are not yet compliant with the new requirements, despite the regime beginning on 18 November 2025.According to Vistra’s survey of 100 company directors at international firms with UK operations, 52% said their organisations have not completed the necessary identity verification.This is in line with Companies House data, which indicates that about 800,000 of the estimated seven million required individuals have completed the process.Firms that fail to verify their directors before submitting their next confirmation statement, or Persons with Significant Control (PSCs) when required in the following year, risk significant fines and reputational harm.The ECCTA requires all directors, PSCs, LLP members, and anyone filing on behalf of a company to verify their identity with Companies House.However, only 56% of directors surveyed are confident they have correctly identified all PSCs within their organisations.Inaccurate identification or verification of PSCs can result in severe penalties, including fines, bans on document filing, and possible removal from the Companies House register.Awareness of the ECCTA’s requirements remains a challenge.Nearly one in three respondents were unaware of the law’s obligations or deadlines.Given that the ECCTA represents the most significant reform to UK corporate transparency since Companies House was established in 1844, this lack of awareness is a cause of concern.Compliance challenges extend beyond identity verification.Among respondents whose companies meet the Failure to Prevent Fraud offence criteria, only 53% believe they are compliant, despite the offence having come into force on 1 September 2025.This regulation applies to companies meeting two of three criteria: annual turnover over £36m, assets above £18m, and more than 250 employees. Non-compliance can result in unlimited fines.Despite the UK’s reputation for strong corporate governance and influence on international standards, the survey shows that UK-based firms are the least prepared globally.Only 72% of UK directors surveyed were aware of the ECCTA, compared to 76% in the EU, 90% in APAC, and 100% in the US.UK respondents also had the lowest compliance rates for identity verification (38%) and the Failure to Prevent Fraud offence (44%). 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