The SECP would like to clarify the perception that the law function at SECP has been abolished as totally incorrect.
ISLAMABAD: This is in reference to Amber Darr’s article “A requiem for the SECP law division” ( June 22). The Securities and Exchange Commission of Pakistan (SECP) would like to clarify the perception that the law function at the SECP has been abolished as totally incorrect. The law division has only been restructured. The legal function continues to exist under a new name: The general council and legislation department.
This department will be reporting directly to the chairman and will comprise two wings. The legislation wing has been entrusted with drafting/amending and/or vetting of all legislation for the SECP. The wing is also responsible for legally reviewing laws referred by different divisions/departments of the federal government.
The general counsel wing will provide opinions on any legal issue referred by a commissioner or the commission and also provide an opinion to any division/department of the commission on matters relating to amendment to the laws administered by the commission.
Shakil Ahmad Chaudhary
Spokesperson/Head, Internal and External Communication, SECP
Published in The Express Tribune, June 25th, 2011.
