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REG NETWORK FEATURE:
Declarations
Obtain verified declarations on Directors, Officers and Ultimate Beneficial Owners (UBOs) in real time. Declarations is included as part of your REG Network subscription, replacing outdated registers with current, trusted data so you can meet your anti-money laundering obligations with confidence.
Know who you're trading with. Stay compliant. Move faster.
Understanding who owns and runs the companies you trade with is no longer a box-ticking exercise, it’s a core part of managing counterparty risk. Declarations gives you a direct, digital route to verified UBO and Directors & Officers data, so your compliance team spends less time chasing paperwork and more time making informed decisions.
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Meet Ongoing Compliance Obligations
Understand who owns and runs the companies you trade with to help prevent money laundering. Automated requests and checks keep your UBO and Directors & Officers data current, so you’re never relying on an outdated register.
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Accelerate Onboarding New Counterparties
Give new counterparties a fully digital onboarding journey, with UBO and Directors & Officers verification built straight into the process. No separate forms, no chasing documents by email.
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Improve Operational Efficiency
Manage UBO and Directors & Officers identification and screening within your REG Network account, cutting the time and cost of running these checks manually.
Real-time declarations. Verified officials. Confident decisions.
Declarations replaces manual, point-in-time checks with an always-current view of who sits behind the companies you connect with. Here’s how it works, from finding a company to keeping your records current over time.
Connect and Receive
Connect to a company to receive Credit, AML and Corporate Due Diligence data in one place.
Request a Declaration
Send a request directly to a company official to complete a UBO and/or Directors & Officers declaration.
Receive Lists
Digitally receive verified lists of UBOs and Directors & Officers, ready to review.
Enhanced Due Diligence
Run a risk-based assessment through Sanctions, PEPs and Adverse Media Screening as necessary.
Automated Re-Checks
System-driven reminders re-check your connections’ UBOs and Directors & Officers, so your records stay accurate without manual follow-up.
Built on Accuracy, Trust and Risk-Based Decisions
Accurate & Current
Outdated registers and one-off checks at onboarding leave gaps that put your AML programme at risk. Declarations replaces those static records with information requested and refreshed directly from the company in question, in line with current regulatory guidance. Rather than a snapshot taken once and forgotten, you get a record that’s built to stay current as ownership and management change over time, with re-checks triggered automatically rather than left to a calendar reminder someone might miss.
Trusted Declarations
Every declaration is completed by a verified official at the company itself, not pulled from a third-party register or self-reported once during onboarding and never checked again. That direct line to the source means you can trust the names, ownership percentages and roles you’re seeing, rather than relying on data that’s several steps removed from the people it describes. It also gives your compliance team a clear, defensible audit trail of who confirmed what, and when, if that’s ever needed for an internal review or a regulator’s request.
Risk-Based Decisions
A declaration tells you who you’re dealing with, but not on its own whether that person or company presents a risk. Once you’ve received a verified UBO or Directors & Officers declaration, you can run further screening, including Sanctions, PEPs and Adverse Media checks, and decide how much additional due diligence is proportionate to the relationship. That means lower-risk counterparties move through onboarding quickly, while higher-risk relationships get the deeper scrutiny they need, all without slowing down the rest of your pipeline.
Stay Ahead of Your AML Obligations
Faster onboarding, smarter assessment and safer oversight, Declarations puts you in control of counterparty risk without slowing your business down.
Frequently Asked Questions (FAQs)
What is a Declaration on the REG Network?
A Declaration is a verified statement of a company’s Ultimate Beneficial Owners (UBOs) and/or Directors & Officers, completed directly by an official at that company and shared with you in real time through the REG Network.
Who completes a UBO and Directors & Officers declaration?
A verified official at the company you’re connected with completes the declaration, so the information comes directly from the source rather than a third-party register.
Does Declarations replace the need for further due diligence?
No. A declaration confirms who the UBOs, Directors and Officers are, but it’s a starting point rather than a full risk assessment. From there, you can run further checks such as Sanctions and PEPs screening and Adverse Media Screening, and apply enhanced due diligence where the relationship warrants it.
How often are my connections’ declarations re-checked?
The REG Network uses automated, system-driven reminders to prompt your connections to re-confirm their declarations. Exactly how often this happens varies, based on factors such as the counterparty’s country and whether you’re using REG Risk 365 for more configurable, continuous monitoring.
How does Declarations help with AML and Consumer Duty obligations?
By replacing outdated registers with current, verified data, Declarations gives you an audit trail of who owns and runs the companies you trade with, supporting your ongoing anti-money laundering monitoring and wider Consumer Duty and Fair Value obligations.