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…
Adil Aziz
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…
Pak-Qatar Asset Management Company announces approval of Shariah Compliant Collective Investment Schemes
Pak-Qatar Asset Management Company Limited (PQAMCL) recently announced that the Securities and Exchange Commission of Pakistan (SECP) has accorded approval for the launch of its Shariah Compliant Collective Investment Schemes (Mutual Funds). PQAMCL is going for IPO of its funds. PQAMCL obtained its license to operate as an Asset Management Company and Investment Advisor in…
SECP registers 2,362 new companies in August 2022
The Securities and Exchange Commission of Pakistan (SECP) registered 2,362 new companies in August 2022, raising the total number of registered companies to 176,329. This shows an increase of 16% as compared to corresponding period last year. Total capitalization (paid-up-capital) with regard to newly incorporated companies for the current month stood at Rs4.9 billion. Foreign…
SECP proposes revamping of REITs Regulatory Framework
The Securities and Exchange Commission of Pakistan (SECP) has published a concept paper titled “Review of Landscape & Revamping Framework-REITs” for soliciting public comments. It provides a glance at Real Estate Investment Trusts (REITs) Industry and covers proposed amendment(s) in the REITs regulatory framework. The aim of proposed regulatory amendments is to introduce new REIT…
Securities & Exchange Commission of Pakistan introduces digital-only insurers and microinsurers
The Securities and Exchange Commission of Pakistan (SECP) Thursday introduced registration regime for digital-only insurers and dedicated microinsurers. This will promote digitalization and improve customer convenience through instant provision of services. In this regard, amendments to the Insurance Rules, 2017 have been notified vide SRO 1513(I)/2022, said a press release issued here. The new framework…
SECP proposes to reduce statutory Forms from 75 to 27 under Companies Act
In order to facilitate the corporate sector in complying with the applicable regulatory requirements, the Securities and Exchange Commission of Pakistan (SECP) has issued draft Companies Regulations, 2022. It is a consolidated version of nine separate regulations, earlier framed under section 512 of the Companies Act, 2017. The consolidated regulations aim to standardize forms/applications filed…
SECP registers 1,906 new companies in May 2022
The Securities and Exchange Commission of Pakistan (SECP) registered 1,906 new companies in May 2022, raising the total number of registered companies to 169,919. This shows an increase of 19% as compared to corresponding period last year. Total capitalization (paid-up-capital) with regard to newly incorporated companies for the current month stood at Rs3.5 billion. Foreign…
SECP Chairman suggests high-level Steering Committee to chart impactful roadmap for promotion of Islamic finance
The Chairman, Securities and Exchange Commission of Pakistan (SECP) Aamir Khan suggests establishment of a high-level Steering Committee tasked with charting an impactful roadmap for the future, encompassing all touch points of Islamic finance ecosystem, to promote Islamic finance in the country. He made this suggestion in his keynote address at World Islamic Finance Forum’s…