Non-compliance: SECP issues 11 warning letters

Securities Market Division of SECP issues warnings for execution of blank sales and wash trades.

As a part of surveillance and monitoring activities, the Securities Market Division (SMD) of the Securities and Exchange Commission of Pakistan has issued two warning letters to non-compliant members of the stock exchange, for execution of blank sales and wash trades.

Owing to regulatory non-compliance, nine warning letters were issued to the beneficial owners of three listed companies for late filing of returns of beneficial ownership.

Published in The Express Tribune, February 10^th, 2011.