Overview
At REG Technologies, we’re continually improving the Network to help customers manage due diligence efficiently and confidently. Recent updates focus on expanding the Statements area, introducing Ultimate Beneficial Ownership (UBO) Declarations, Director Declarations, and enhancements to existing policies.
These updates provide a seamless way to request, review, and monitor critical company information within the REG Network. Customers can now complete more of the onboarding and ongoing compliance processes directly in the system, saving time and reducing reliance on manual checks or external communications.
This guide explains the new features, their benefits, and how to use them effectively.
Updated Statements Area
The Statements area is where customers request key documentation from their business connections, such as:
Policy statements (PII Certificate, Anti-Bribery, Modern Slavery Act, etc.).
Ultimate Beneficial Ownership declarations.
Director information.
Key Updates:
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Ultimate Beneficial Ownership (UBO) Data:
Customers can now request ownership information for companies further up the ownership chain.
This helps ensure compliance with AML and anti-financial crime checks by screening individuals for sanctions, political exposure, or adverse media.
UBO data is captured directly from the company, filling gaps where no public register exists.
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Director Declarations:
UK companies automatically provide director information via Companies House feeds.
For companies outside the UK without publicly available director information, the system allows companies to declare their directors.
Information provided is then screened for sanctions, PEPs, and adverse media.
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Policy Updates and Self-Certification:
Customers can request documents such as ESG, KYC, and business continuity policies.
Companies can self-certify, reducing manual upload efforts while maintaining compliance transparency.
Information is shared with all relevant business connections, providing a “one-stop” reference.
Private Declarations
Some information, such as UBO or director declarations, is considered private:
Visibility is controlled by the submitting company.
Customers can choose which business connections can view each declaration.
Requests can be tracked, and review or expiry dates set for regular updates.
Benefits:
Ensures sensitive data is shared only with appropriate connections.
Supports repeatable, auditable due diligence processes.
Bulk Requests
The REG Network allows customers to request multiple statements or declarations in bulk:
Customers select the statements required (e.g., ESG policies) across all connections.
Requests are sent in one action, saving time and improving compliance coverage.
Recipients can respond by uploading documentation or self-certifying.
This makes it easier to manage due diligence across multiple relationships efficiently.
Using the Features
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Add Business Connections:
Connections must be registered on the REG Network.
Invitations are quick, simple, and free.
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Request Statements:
Navigate to Active Connections page → locate required connection → REG intelligence → Statements.
Choose the required private declaration or policy.
Add a note →
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Monitor Responses:
View updates in My Statements or via notifications.
Track who has submitted or updated information.
Conduct screening checks on submitted UBO or director data.
Why This Matters
Provides comprehensive coverage for due diligence, even when public data is limited.
Reduces manual effort in collecting critical compliance information.
Streamlines onboarding and ongoing monitoring for UK and international companies.
Helps identify and mitigate risks related to sanctions, PEPs, and adverse media exposure.
Need More Help?
For further guidance on declarations or screening, visit the Knowledge Hub or contact Support for assistance.