The Securities and Exchange Commission of Pakistan (SECP) has introduced amendments to the Companies Regulations, 2024, creating a centralized Ultimate Beneficial Ownership (UBO) Registry for the corporate sector. This move aims to enhance the availability of accurate ownership information for companies, in line with global standards and the recommendations of the Financial Action Task Force (FATF) and the Organisation for Economic Co-operation and Development (OECD).
Under the amended regulations, companies are required to submit their UBO information through SECP’s eZfile portal for each financial year ending on or after June 30, 2025. This will include beneficial ownership data collected from shareholders, alongside other regulatory returns.
The data will be accessible to financial institutions and other stakeholders as required, further promoting transparency and integrity within Pakistan’s corporate sector.
The establishment of the centralized UBO Registry follows extensive consultations with stakeholders, demonstrating SECP’s commitment to aligning the country’s corporate regulatory framework with international best practices. The initiative is expected to strengthen investor confidence in Pakistan’s financial and regulatory systems.
