Islamabad: The Securities and Exchange Commission of Pakistan issued four warning letters to the members of stock exchanges for operational malpractices in July. Moreover, five warning letters were issued to beneficial owners of the listed companies for late filing of returns.
In addition, six show-cause notices were served on the beneficial owners of the listed companies under Section 224 (4) of the 1984 Companies Ordinance. A show- cause notice was also issued to a brokerage house for a violation of the 2001 Brokers and Agents Registration Rules.
The prevailing regulatory framework is continuously being improved for the development of a conducive market. In this regard, seven amendments were approved to the existing regulations.
The SECP also granted approval to Engro Powergen Qadirpur Limited under its Employees Stock Option Scheme to incorporate certain amendments into its scheme. During the month, the SECP resolved seven complaints pertaining to the brokers/ exchanges and one complaint pertaining to companies.
For more information, contact:
Shakil Ahmad Chaudhary
Head, Internal and External Communication
Securities and Exchange Commission of Pakistan (SECP)
NIC Building, 63 Jinnah Avenue, Islamabad
Tel: +9251 921 4005 or 921 4009 (Ext. 378)
Fax: +9251 920 6459
Cell: +92302 855 2254