In a significant move to curb the illegal use of corporate structures, the Securities and Exchange Commission of Pakistan (SECP) has made it mandatory for all registered companies to disclose their ultimate beneficial owners
through a newly launched digital registry.
The SECP has introduced the online Ultimate Beneficial
Ownership
registry to create a centralized and accessible digital record of the real ownership behind corporate entities.
According to a communiqué issued by the Commission today, information containing details of the ultimate owners of companies will now be securely stored and maintained in this online system.
To comply with the new directive, newly established companies will have to submit their ownership details through Form 1. In contrast, existing companies will have to file this information on an annual basis using Form 19.
The initiative aims to enhance corporate transparency, ensuring that a clear and verifiable record of company ownership is readily available to the regulator.
SECP officials stated that establishing a comprehensive record of ultimate beneficial ownership is a critical step in helping prevent companies from being misused for illegal activities.
The SECP confirmed that the mandatory provision of this information is also a key requirement under modern anti-money laundering laws.