Inquirer
SEC issues tighter rules on beneficial ownership
The Securities and Exchange Commission (SEC) has revised its rules on beneficial ownership disclosures to enhance transparency, accountability, and prevent corporate misuse for illicit activities.
The new rules, outlined in SEC Memorandum Circular (MC) No. 15, or the Beneficial Ownership Disclosure Rules of 2026, will take effect on January 1, 2026.
These regulations apply to all domestic and foreign corporations, partnerships, and one-person corporations under SEC jurisdiction, including their officers and shareholders.
SEC Chairperson Francis Lim stated that strengthening beneficial ownership transparency is crucial for reducing the risk of corporate entities being exploited for illegal purposes.
The revised rules streamline disclosure processes, enabling the SEC to better utilize structured data for lawful access by authorized authorities.
Key updates include enhanced checks for accuracy of ownership information and disclosure requirements for individuals owning at least 20% of a company, aligning with Anti-Money Laundering Council rules.
Access to this beneficial ownership data will be restricted to authorized government agencies under strict safeguards.
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