New Format of Reporting of Beneficial Ownership Information in Terms of the New Anti-Money Laundering Package – Publication of Implementing Regulation by the EU Commission

Although the extract does not set out a detailed deadline, the direction of travel is clear: supervisory expectations will shift toward more structured, higher-quality UBO data and greater consistency in how firms submit ownership information. Compliance teams should treat this as a data-governance and reporting-operations change, not merely a template update. Practical steps include mapping current BO data fields to the new format, reconciling gaps in UBO identification and verification, updating onboarding and periodic-review workflows, and confirming that reporting systems or vendor solutions can generate the required submissions.

Firms should also assign clear ownership across compliance, legal, operations and technology, train relevant staff, and retain evidence of data validation and testing. Executives should monitor forthcoming EU and MFSA guidance for application dates and transitional arrangements, and consider whether group-wide reporting, outsourcing and third-party dependencies are affected. Early preparation can reduce submission errors and supervisory challenge, while improved BO data quality can strengthen AML risk management and cross-border consistency.