Islamabad, Apr 15, 2025: The Securities and Exchange Commission of Pakistan (SECP) has put forward proposed revisions to the Companies Regulations, 2024 (the Regulations), with the objective of establishing a centralized Ultimate Beneficial Ownership (UBO) Registry within the corporate sector.
Under the suggested revisions, businesses will be obligated to provide UBO data, which they currently gather from shareholders to the Commission via the eZfile portal, alongside other pertinent regulatory forms and filings.
This data will be accessible to Financial Institutions whenever necessary.
As a result of coordinated efforts by key stakeholders, Pakistan successfully exited the Financial Action Task Force (FATF) grey list in 2022.
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This accomplishment boosted Pakistan’s international reputation, facilitating the attraction of foreign investments and enhancing access to global financial markets.
In line with FATF guidelines, the establishment of a centralized UBO Registry will ensure that UBO information is accurate, current, and thorough.
This initiative is anticipated to underscore Pakistan’s commitment to international best practices, as well as to bolster investor trust in the nation’s financial environment.
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The creation of the centralized registry is designed to foster greater financial transparency while aligning Pakistan’s Anti-Money Laundering and Counter-Financing of Terrorism (AML/CFT) protocols with global standards set by FATF, the Organisation for Economic Co-operation and Development (OECD), and other international entities.
