Regulatory Alerts2025-10-22
Added · Updated
COSOB Guidelines No. 01-2025 of October 22, 2025, on Procedures for Identifying and Verifying Beneficial Owners (Version 0.2)
The Commission for the Organization and Supervision of Stock Exchange Operations (COSOB) issued Guidelines No. 01-2025 to mandate strict identification and verification procedures for beneficial owners by regulated entities. The document defines beneficial ownership as holding 20% or more of capital or voting rights, or exercising control, and requires enhanced due diligence for high-risk clients and politically exposed persons. It establishes a risk-based approach requiring regulated firms to collect specific data, verify identities through independent sources, and maintain ongoing monitoring to prevent money laundering and terrorist financing.
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