C810 - Commission Implementing Regulation (EU) 2026/2354 on formats for submitting beneficial ownership information

Published on 22 October 2026, the Regulation applies from 10 July 2027 and is directly binding on all member states. For compliance teams, this means upcoming changes to how beneficial ownership data is collected, validated, and reported. The common formats aim to enhance data quality, consistency, and interoperability among registers, reducing fragmentation and easing cross-border information sharing.

While the deadline is not immediate, firms should begin assessing their current reporting processes and systems. Key actions include: reviewing data collection and validation procedures; mapping data fields to the new formats; updating IT systems and vendor solutions; and training staff on the new requirements. The Regulation applies to a broad range of entities, including CASPs, CIFs, ASPs, UCITS management companies, AIFMs, and self-managed funds.

Firms should also monitor for further technical guidance from CySEC and the European Commission. Business impacts: Non-compliance could lead to regulatory scrutiny and penalties, particularly given the AML/CFT focus. However, the standardisation offers opportunities to streamline reporting, improve data accuracy, and reduce long-term compliance costs.

Firms with robust data governance will be better positioned. RegCanary recommends that compliance, legal, and IT teams collaborate to assess the impact and develop an implementation roadmap. With over eight months to prepare, a phased approach is advisable.

Keep an eye on Circular C738 for related requirements. This is a moderate-impact regulatory development with medium urgency, requiring proactive planning but not immediate action.