New guidance coming into effect means companies must follow updated Registrable Beneficial Owner (RBO) requirements from their next annual return date or from September 2026, whichever is soonest.
New functionality is now available in Version 1.3.94.0
What’s Changing?
★ The ownership threshold is now ≥25% (previously >25%).
★ Anyone holding exactly 25% must now be listed on the Register of Beneficial Ownership.
★ New Beneficial Ownership Type classifications are being introduced.
★ Senior Managing Officials (SMOs) can only be recorded when no RBO exists.
Reverto System & Process Updates:
★ Update threshold logic to reflect ownership ≥25%.
★ New Nature of Interest options include: Ownership, Control via voting rights, Ownership & Control, Control via Trust, Control via Foundation, Control (Other), Control as Liquidator.
★ Add system validation so percentages are only required where applicable.
★ Ensure Register of Beneficial Ownership generation uses the new threshold.
Keeping up with regulatory change should not mean rebuilding processes in spreadsheets or relying on manual checks across a portfolio. Our job is to make sure Reverto continues to reflect the way regulated firms need to work.
If you would like to receive this update as soon as possible, please contact us.