The Securities and Exchange Commission of Pakistan (SECP) and the Karachi Stock Exchange, in a meeting on Wednesday, discussed various important market-related matters including the proposed new broker registration regime.
Discussing the concept paper on the new broker registration regime, SECP officials reiterated that the regime would help in strengthening the market by allowing only ‘fit and proper’ brokers to operate, says a joint statement issued by both the managements.
“The regime will provide a framework where only qualified, experienced, sustainable, technically and financially strong market participants would operate as brokers,” the statement adds.
The concept paper has been sent to the exchanges for soliciting comments and will be finalised after feedback of the stakeholders.
Published in The Express Tribune, December 8th, 2011.
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