SECP to reform PMEX for creating linkage with rural economy: Akif Saeed
The Chairman, Securities & Exchange Commission of Pakistan (SECP) Akif Saeed said regulatory and structural reforms will be introduced along with product development to link Pakistan Mercantile Exchange (PMEX) with the rural economy of Pakistan. The Chairman SECP, accompanied by senior officials, met the Board of Directors and senior management of Pakistan Mercantile Exchange (PMEX)…
Adil Aziz
Chairman SECP for continuous engagement with market participants
SECP team visits PSX The Chairman, Securities & Exchange Commission of Pakistan (SECP) Akif Saeed, during his visit to Karachi, met with the management and Board of Directors of Pakistan Stock Exchange (PSX), National Clearing Company of Pakistan Limited (NCCPL) as well as the Executive Committee of Pakistan Stock Brokers Association (PSBA) representing brokerage industry….
SECP issues digital lending standards
The Securities and Exchange Commission of Pakistan (SECP), taking notice of rising concerns involving mis-selling, breach of data privacy, and coercive recovery practices of licensed digital lending companies, has issued directive to safeguard public interest and ensure fair treatment of borrowers in digital lending ecosystem. The circular can be accessed from SECP website at https://www.secp.gov.pk/document/circular-no-15-of-2022-requirements-fornbfcs-engaged-in-digital-lending/?wpdmdl=46436&refresh=63abedc5978a21672211909۔…
Zero chance of Pakistan’s default; assures Dar
Federal Finance and Revenue Minister Senator Muhammad Ishaq Dar while rejecting the rumors about Pakistan’s going to default assured that Pakistan has resilience and will survive all challenges. Pakistan has a very beautiful future. However, he stressed on joint and targeted efforts by the public and private sectors to come out of this pressing economic situation….
SECP Constitutes new benches for expeditious disposal of appeals
The Securities and Exchange Commission of Pakistan, subsequent to appointment of three Commissioners by the Federal Government, completing its quorum of Commissioners, has sanctioned its approval to constitute new Benches, to hear appeals under Section 33 of the SECP Act, 1997. The Commission had been operating with only 2 Commissioners in the past year, which…
SECP registers 7 new Private Funds in 2022
The Securities and Exchange Commission of Pakistan (SECP) has registered seven (7) new private funds under the Private Funds Regulations during the calendar year 2022. Given that the Private Funds industry for past many years had only five funds, the registrations of two Venture Capital (VC) funds, four Private Equity and Venture Capital (PE&VC) funds…
SECP register 2,380 new companies in November
The Securities and Exchange Commission of Pakistan (SECP) registered 2,380 new companies in November, 2022, indicating an increase of 10% as compared to corresponding period last year. Total capitalization (paid-up-capital) of the newly incorporated companies is PKR1.9 billion. The total number of registered companies now stands at 182,598. Among the newly incorporated companies, about 59…
SECP issues concept paper on Risk Based Capital Regime for insurance sector
The Securities and Exchange Commission of Pakistan (SECP) has issued a concept paper on Risk Based Capital (RBC) Regime, outlining the possibility of shifting from existing solvency-based regime towards an RBC regime for Pakistan’s insurance sector. The proposed framework is consistent with international best practice, aimed at improving corporate governance, enterprise risk management and public…
SECP issues draft Unlisted Companies (Buy-Back of Shares) Regulations, 2022 for soliciting public opinion
The Securities and Exchange Commission of Pakistan (SECP) has approved the draft, “Unlisted Companies (Buy-Back of Shares) Regulations, 2022”, detailing the procedures of purchase of shares issued by unlisted public and private companies. The proposed regulations will facilitate startups, and boost investor confidence by providing an easy exit option to the shareholders. The draft regulations…
SECP emphasizes non-bank financial sector to establish sustainable AML/CFT compliance culture
The Securities and Exchange Commission of Pakistan (SECP) stressed the need to cultivate a sustainable and resilient culture of anti-money laundering and counter-financing of terrorism (AML/CFT) compliance within the non-bank financial sector. SECP Commissioner Sadia Khan, while talking at the training program arranged by the Mutual Funds Association of Pakistan (MUFAP), highlighted the critical role…