Aimed COVID-19; SECP to continue adjudication function through online hearings
ISLAMABAD: The SECP, to ensure continuity of its adjudication function, while keeping the health and safety of respondents at forefront, has decided to conduct hearings through video conferencing facility where respondents can make their hearing submissions from their respective safe locations, be it their offices or homes.
This decision has been taken in response to disruptions caused by Covid-19 emergency; however, it will be a permanent facility for participating in SECP adjudications related hearings. To this effect, Commission has approved major adjustments in standard operating procedures and internal guidelines allowing service of notices and orders through email, use of video conferencing facility for conducting hearings and extension in timelines for adjudication processes. Show Cause Notices and Orders will now be served to respondents through emails. This will be in addition to traditional postal dispatches on registered address.
Moreover, for companies whose offices might closed or access to relevant records not possible, Commission has decided to relax submission timeline on request. These facilitative changes will create ease across all regulated sectors of SECP.
During this period of collective national emergency, SECP has ensured continuity of operations, providing prompt, targeted regulatory relief and preserving our enforcement and investor protection efforts. Social media and electronic means has become the preferred medium of communication at SECP.