SECP to host International Insure-Impact Conference 2023
The Securities and Exchange Commission of Pakistan is set to host the International Insure-Impact Conference 2023 (IIC 2023), a two-day event in Karachi on December 13 and 14, 2023, with the theme “Journey to an Insured Pakistan”. Through the IIC 2023, the SECP aims to boost the insurance sector by promoting inclusivity, innovation, and resilience…
Adil Aziz
SECP continues crack down on illegal loan apps
As part of the Securities and Exchange Commission of Pakistan’s crackdown against illegal loan apps, it has been observed that some operators have started launching their illegal loan apps through Android Package Kit (APK) files, by using alternative channels such as websites, WhatsApp, etc. instead of uploading them on Google and Apple Play stores. The…
PSX marks WIW 2023 with gong ceremony
Pakistan Stock Exchange along with numerous other exchanges and organisations across the world marked World Investor Week (WIW) 2023 through a gong ceremony held at PSX. The World Federation of Exchanges (WFE), of which PSX is an Affiliate Exchange, spearheads the WIW, the WIW is being held from October 2– 8, 2023. PSX is holding…
Dr Shamshad consultation with financial markets to bring investment
Dr. Shamshad Akhtar, the honorable Caretaker Federal Minister forFinance, Revenue, Economic Affairs chaired a meeting with the Chairman of the Securities Exchange Commission of Pakistan, bankers and heads of development finance stated that capital market reforms are critical component of the CareTaker Government’s economic revival program. The initiatives are aimed to promote growth and development…
SECP issues standardized constitutive documents for registration of Private Funds
The Securities and Exchange Commission of Pakistan has issued standardized formats of documents, along with step-by-step guidance, for the registration of private fund as a notified entity. The standardized documentation, available at SECP’s website in editable formats, will promote consistency, encourage harmonized disclosures, and reduce the turnaround time required for the registration of a private…
SECP amends AML/CFT) Regulations, 2020
The Securities and Exchange Commission of Pakistan has introduced important amendments to the Anti-Money Laundering and Countering Financing of Terrorism (AML/CFT) Regulations, 2020. The notified amendments aim to enhance the scope of regulations to effectively combat financial crimes, control money laundering, and combat the financing of terrorism (CFT) while ensuring the integrity of its financial…
SECP imposes pricing caps on digital personal loans
The Securities and Exchange Commission of Pakistan imposed pricing caps on digital personal loans by mobile applications. In a significant move towards promoting responsible lending and consumer safety, the Securities and Exchange Commission of Pakistan issued an all-encompassing set of requirements for Non-Banking Financial Companies (NBFCs) offering digital personal loans via mobile applications, said a…
SECP warns public against investing in ISMMART Group
The Securities and Exchange Commission of Pakistan (SECP) has issued a warning advising the general public against investing in fraudulent investment schemes of ISMMART Group. The SECP has noticed that an entity, namely “Ismmart Group”, owned by Shaukat Ullah Khan, is prima facie raising deposits from the public by promising them unrealistic monthly returns. It…
Finance Minister suggests listing of govt debt securities at PSX
Dr. Shamshad Akhtar, the Federal Minister for Finance and Revenue said that the securities market can play a vital role in the development of debt market through the listing of Government debt securities on Pakistan Stock Exchange. Speaking at the inauguration ceremony of the Centralized Gateway Portal, Dr Akhtar said that the issuance securities through…
SECP introduces Shariah Governance Framework 2023
The Securities and Exchange Commission of Pakistan (SECP) has notified the Shariah Governance Regulations, 2023, revamping the regulatory framework by combining and repealing the earlier Shariah Governance Regulations, 2018 and the Shariah Advisors Regulations, 2017. The new regulations, issued under Section 512(1) read with Section 451 of the Companies Act, 2017, have introduced the concepts…