Prime Minister Imran Khan will chair the federal meeting today, to review the political, economical and coronavirus situation in the country. According to details, the meeting will discuss a 14-point agenda. The issue of revoking the licenses of pilots with fake degrees has also been included in the agenda. Furthermore, the matter of prohibited arms … Read more
The Securities and Exchange Commission of Pakistan (SECP) has advised non-life insurance companies to grant one month free of cost extension in insurance coverage to all motor insurance policyholders amid COVID-19. The ongoing lockdown situation across the country has resulted in a significant decline in traffic density. With intercity public transport almost at a significant … Read more
The SECP has allowed deferment of repayment of principal and rescheduling of loans, based on borrowers’ requests o facilitate borrowers of non-bank lending companies (NBFCs). To further facilitate small borrowers and micro-enterprise, the regulators has advised the non-bank microfinance companies (NBMFCs) to accept such requests made through SMS, emails and phone calls. The SECP has … Read more
The Securities and Exchange Commission of Pakistan S E C P advised all companies to modify their usual planning for annual general meetings in light of threat posed by the evolving COVID-19 situation to protect the well-being of shareholders. The advisory comes after one more case of coronavirus confirmed in the country taking the nationwide … Read more
The Securities and Exchange Commission of Pakistan (SECP) will extend its One Stop Shop (OSS) facility for company registration to Baluchistan and KPK. SECP Commissioner Shaukat Hussain, Commissioner (SECP) said this while speaking at the launching ceremony of Government of Balochistan’s plan for Transformation of Traditional Businesses into Corporate Bodies. Shaukat apprised the audience that … Read more
The Securities and Exchange Commission of Pakistan (SECP), to explore opportunities and challenges in the digitization of insurance business, organized a workshop on “Promotion of Digital Insurance – Opportunities, Challenges and Way Forward”. The workshop was aimed at encouraging stakeholders to utilize platform of Regulatory Sandbox for introducing innovation. The SECP Commissioner (Insurance) Shaukat Hussain … Read more
The Securities and Exchange Commission of Pakistan (SECP) signed Memorandums of Understanding (MOU) with five leading universities to promote financial literacy among youths. SECP’s Commissioner Investor Education Department, Shaukat Hussain inked the MoUs. While universities were represented by their respective Vice Chancellors, Registrars and Directors. These HEC recognized universities included University of Balochistan, Mehran University … Read more
The Securities and Exchange Policy Board met in Karachi at the SECP Southern Regional Office under the Chairmanship of Professor Khalid Mirza. The Policy Board was advised by the Chairman SECP that a letter had been issued in regard to recall of officers deputed to a Law Enforcement Agencies (LEA) and a response would hopefully … Read more
The Securities and Exchange Commission of Pakistan (SECP) and Asian Development Bank (ADB) jointly organized a workshop for stakeholder consultations on Financial Market Development 2020-25. The long term road-map will be focusing on demand and supply measures to broaden and deepen the financial system in Pakistan. Senior level representatives from the ADB, State Bank of … Read more
The Securities and Exchange Commission of Pakistan (SECP) has issued revised and more elaborative Anti Money Laundering and Counter Financial Terrorism (AML/CFT) Guidelines for Non-Profit Organizations (NPOs). The new guidelines explicitly highlights the consequences of money laundering, terrorist financing, predicate crimes and other abuses on the NPO sector. According to spokesman of SECP, The AML/CFT … Read more
The Securities and Exchange Commission of Pakistan (SECP), will facilitate the revival of distressed companies, has notified the Corporate Rehabilitation Regulations, 2019. The regulations, issued under section 41 of the Corporate Rehabilitation Act, 2018 (CRA) broadly cover procedures for maintenance of Penal of Insolvency Experts, manner of determination of remuneration of Insolvency Experts, and Code … Read more
The Securities and Exchange Commission of Pakistan (SECP), in collaboration with United Nations Office on Drugs and Crime (UNODC), conducted series of workshops for SECP regulated financial institutions to enhance understanding of the risk-based approach to prevent money laundering and terror financing. Over 500 professionals from Securities and Commodities markets, Insurance/Takaful companies, Non-Banking Finance Companies … Read more
The Securities and Exchange Commission of Pakistan (SECP), to safeguard interests of common public has initiated winding up proceedings against 6 companies, allegedly involved in illegal and unauthorized business activities. These companies are M/s Memon Corporation (Private) Limited, M/s Pak Memon Impex (Private) Limited, M/s Neamat Ullaha & Amjad Javed and Company (Private) Limited, M/s … Read more
The Securities and Exchange Commission of Pakistan (SECP), to safeguard the interests of public, advises people not to invest in fraudulent investment and Ponzi schemes promising hefty profits and unrealistic incentives to trap innocent people. It has come to the SECP’s knowledge that companies namely M/s. BH Online Jobs (SMC-Private) Limited, Corporate Automobiles (Private) Limited … Read more
The Securities and Exchange Commission is to recall all staff members seconded to the LEAs and also transfer back cases wrongfully referred to NAB. According to the details, the Securities and Exchange Policy Board meeting held under the Chairmanship of Professor Khalid Mirza. Firm directions were given by the Board to the Commission to recall … Read more
The Securities and Exchange Commission of Pakistan (SECP) has approved the Growth Enterprise Market Listing Regulations to enable Small and Medium Enterprises (SMEs), Green field projects, Not for Profit and other companies to raise capital through capital markets conveniently. SECP has advised Pakistan Stock Exchange (PSX) to arrange publication of new regulations in the official … Read more
