SECP approves disclosure framework under global principles

ISLAMABAD: In adherence to internationally recognized standards of regulation and oversight, the Securities and Exchange Commission of Pakistan (SECP) has approved disclosure framework to provide participants and general public with sufficient information for better understanding of Financial Market Infrastructures (FMIs), regulatory, supervisory, and oversight policies of SECP with respect to… Continue reading

PSX Holds Gong Ceremony to Mark Issuance & Listing of PHL PES II

Karachi: Pakistan Stock Exchange (PSX) held a gong ceremony today to mark the successful book building and listing of Power Holding Limited’s (PHL’s) Rs 200 Bn Pakistan Energy Sukuk II (PES II). The book building process managed by Pakistan Stock Exchange, was a landmark event which concluded on May 19,… Continue reading

SECP conducts a series of AML/CFT awareness sessions

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP), in collaboration with United Nations Office on Drugs and Crime (UNODC), conducted a series of online capacity building workshops for the financial and corporate sector. The sessions covered the subjects of risk-based approach to ML/TF, terrorism financing/ targeted financial sanctions and… Continue reading

Audit regulator deregisters an audit firm of chartered accountants

ISLAMABAD: The Audit Oversight Board has removed Qadeer & Company, Chartered Accountants from its register of auditors of public interest companies. The firm had committed multiple violations of the law including failure to rotate audit partner as required by the code of ethics, failure to disclose an audit partner to… Continue reading

SECP initiates consultative process to revamp NBFC regime

ISLAMABAD: The Securities and Exchange Commission of Pakistan has issued draft of amendments in the Non-Banking Finance Companies (Establishment and Regulation) Rules, 2003 for public consultation. In order to promote an enabling business environment and provide ease of doing business, the SECP, through these amendments, has proposed introduction of perpetual… Continue reading

SECP proposes amendments in Securities and Futures Advisors (Licensing & Operations) Regulations

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has proposed amendments in Securities and Futures Advisors (Licensing & Operations) Regulations, 2017 to propel the initiatives of the Commission for broadening investor base and enhancing outreach of capital market. Through these amendments, the SECP has proposed to allow individuals to… Continue reading

2.24 million Non-Bank Microfinance borrowers provided relief

ISLAMABAD: As reported on June 30, 2020, the Non-bank Microfinance Companies (NBMFCs) have reschedule loans of worth Rs36billion of total 2,244,605 individuals and micro-enterprises. The SECP had relaxed the regulatory requirements for non-bank finance sector allowing them to defer or reschedule the loan repayments of their borrowers during COVID-19 pandemic…. Continue reading