The Securities and Exchange Commission (SEC) will require corporations to submit beneficial ownership (BO) disclosures through a new online system starting 30 January to streamline compliance and strengthen corporate transparency.

The regulator said Thursday it will launch the Hierarchical and Applicable Relations and Beneficial Ownership Registry (HARBOR), a web-based registry for BO disclosures that can be accessed at https://harbor.sec.gov.ph/ or through the Electronic Filing and Submission Tool (eFAST). 

HARBOR enables the secure submission and updating of beneficial ownership data and is integrated with eFAST, the Commission’s official portal for reportorial requirements.

Through HARBOR, the SEC said it reduces manual handling of beneficial ownership information, improving data quality and enabling more timely access to reliable information for compliance monitoring and regulatory coordination.

Key transparency reform

“Beneficial ownership disclosures are a key transparency reform that supports good governance and helps prevent the misuse of corporate structures for illicit activities,” SEC chairperson Francisco Lim said.

“Through HARBOR, the SEC streamlines the filing process while strengthening BO data management, enabling the Commission to provide timely and meaningful support to partner agencies in lawful enforcement actions,” he added.

Beneficial owners refer to natural persons who ultimately own or exercise effective control over a corporation, whether directly or indirectly.

With the launch of HARBOR, the SEC issued the 2026 version of the General Information Sheet (GIS), which removes the page on BO disclosures, reflecting the shift to HARBOR as the Commission’s web-based registry for beneficial ownership submissions and updating. Previously, BO disclosures were submitted through eFAST as part of the GIS.

No need to re-submit BO declaration every year

Under the new system, companies will no longer need to re-submit the same beneficial ownership declaration every year unless there are changes, including the addition of new beneficial owners. Instead, filers will be required to revalidate previously submitted information.

To access HARBOR, filers must have an active account on the Electronic SEC Universal Registration Environment (eSECURE), and only active and authorized filers through eFAST may submit BO declarations via HARBOR.

The SEC said the launch, under Memorandum Circular No. 15, Series of 2025, strengthens beneficial ownership reporting in line with the Philippines’ FATF commitments and builds on reforms that helped the country exit the grey list in February 2025.