SECP To Setup A Centralizes Corporate,UBO Registry

Mohammad Ali (@ChaudhryMAli88) Published April 15, 2025 | 02:00 PM

ISLAMABAD, (UrduPoint / Pakistan Point News - 15th Apr, 2025) The Securities and Exchange Commission of Pakistan (SECP) has proposed certain amendments to the Companies Regulations, 2024 (the Regulations) to set up a centralized UBO Registry for the corporate sector.

In terms of the proposed changes, companies would be required to submit UBO information, already being obtained from their shareholders, to the Commission through the eZfile portal along with other relevant regulatory returns/forms,said a press release issued here on Tuesday.

This information can be accessed by Financial Institutions, as and when required.

As a result of coordinated efforts made by various stakeholders, Pakistan was successfully removed from Financial Action Task Force (FATF) grey list in the year 2022. This achievement enhanced Pakistan’s global credibility to attract foreign investment and improve access to international financial markets.

In line with FATF standards, the centralized corporate UBO Registry will ensure maintenance of an accurate, up-to-date and comprehensive UBO data. This reform is expected not only to highlight Pakistan’s commitment to global best practices but also strengthens investor confidence in the country’s financial ecosystem.

The centralized registry concept is aimed at boosting financial transparency and aligning Pakistan’s AML/CFT framework with global standards set by FATF, Organization for Economic Cooperation and Development (OECD) and other international organizations.

The SECP remains committed to strengthening Pakistan’s financial system through transparency, collaboration, and global best practices.