The Securities and Exchange Commission of Pakistan has launched a digital registry for Ultimate Beneficial Owners (UBOs), requiring all registered companies to disclose their true ownership details online to improve transparency and strengthen compliance with anti-money laundering regulations.
According to the regulator, the digital registry will store information about the ultimate beneficial owners of registered companies, ensuring that details of individuals who ultimately control or benefit from corporate entities are properly documented and accessible through an online system.
Under the new framework, all companies registered with the SECP will be required to provide information regarding their ultimate beneficial owners. The regulator said the step is part of broader efforts to enhance transparency in the corporate sector and ensure that company ownership structures are clearly identified.
The SECP stated that newly incorporated companies will be required to submit beneficial ownership information through Form-1, while companies that are already registered must provide the required details through Form-19 on an annual basis.
Officials said the digital UBO registry will help establish a transparent and reliable record of company ownership, making it easier to identify the individuals who ultimately control corporate entities.
The commission added that maintaining accurate records of beneficial ownership is also a key requirement under anti-money laundering (AML) regulations and international financial transparency standards.
By introducing the digital registry, the SECP aims to prevent the misuse of corporate structures for illegal activities and strengthen regulatory oversight of the corporate sector.
The regulator noted that improved disclosure of beneficial ownership information will play an important role in discouraging the use of companies for unlawful purposes and enhancing confidence in Pakistan’s corporate governance framework.
