The UK's corporate register is expected to shrink significantly over the next year as new identity verification rules for company directors and beneficial owners come into force on Tuesday, according to specialists in corporate transparency and financial crime. From 18 November, all new directors and persons with significant control (PSCs) must verify their identity with Companies House before they can form or run a company. Existing directors and PSCs will be phased into the system over the next 12 months, completing verification when they next file a confirmation statement.