ISLAMABAD, April 21, 2026 – Pakistan’s corporate regulator has directed all registered companies to ensure timely submission of ultimate beneficial ownership (UBO) information, warning of penalties for non-compliance.
The Securities and Exchange Commission of Pakistan said on Tuesday that companies must file Form-19 through its eZfile portal in accordance with Section 123A of the Companies Act, 2017. The filing is required alongside annual returns and aims to improve corporate transparency.
UBO disclosure identifies the natural persons who ultimately own or control a company, whether directly or indirectly. This includes individuals exercising significant influence, even if they are not formally listed as shareholders or directors.
The regulator said several companies have yet to comply with the requirement and urged them to complete filings without delay. It added that firms must provide accurate details of ownership structures, including shareholding percentages and control arrangements, through the online system.
Companies are also required to maintain an internal register of beneficial owners and update it annually or whenever changes occur, the SECP said.
The watchdog stressed that UBO disclosure is critical to preventing the misuse of corporate entities and strengthening Pakistan’s framework against money laundering and illicit financial flows.
Failure to submit Form-19 constitutes a violation of the law and may result in penalties of up to 1 million rupees ($3,600) for directors or responsible officers, and up to 10 million rupees for the company.
The SECP warned that legal proceedings will be initiated against firms that fail to meet the April 30, 2026 deadline, underscoring its push to enforce compliance and improve governance standards across the corporate sector.