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British businesses must collect and store data on their beneficial owners as of Wednesday, under a milestone deadline for the U.K.'s plan to launch a public register aimed at improving corporate transparency. Regulations adopted last year require businesses to develop internal registers that include the names, nationalities and birth months and years of individuals who hold more than 25 percent of shares or voting rights, or who wield control over the firms through voting rights or the power to appoint board directors. From June, firms that aren't listed on securities markets and limited liability partnerships must begin submitting the information...