The Securities and Exchange Commission of Pakistan has proposed amendments to the Companies Regulations, 2024 to establish a centralized ultimate beneficial ownership (UBO) registry for the corporate sector. The changes would require companies to submit UBO information to the Commission via the eZfile portal alongside other regulatory returns and forms, creating a single repository that financial institutions could access when required. The registry is intended to ensure UBO data is accurate, up to date and comprehensive, and to strengthen financial transparency by aligning Pakistan’s anti-money laundering and counter-terrorist financing framework with standards referenced to the Financial Action Task Force and the Organisation for Economic Co-operation and Development. SECP also framed the initiative in the context of Pakistan’s removal from the FATF grey list in 2022. SECP has invited feedback from stakeholders on the proposed concept and draft amendments within 14 days, with the draft materials published on its website.
Securites & Exchange Commission of Pakistan 2025-04-15
Securities and Exchange Commission of Pakistan seeks feedback on amendments to create a centralized corporate ultimate beneficial ownership registry
The Securities and Exchange Commission of Pakistan proposes amendments to the Companies Regulations, 2024, to create a centralized ultimate beneficial ownership registry. This aims to enhance financial transparency and align Pakistan's anti-money laundering and counter-terrorist financing framework with international standards. Companies must submit UBO information via the eZfile portal, accessible to financial institutions.