Director Certification: SECP extends deadline to June 2012

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has granted extension in the timeline prescribed in the code for mandatory certification for minimum one director in companies under corporate governance orientation programmes up to June 30, 2012, according to a statement issued by the commission on Monday. In addition, for the purposes of extending necessary flexibility to listed corporate sector with respect to the choice of institution for the said certification, the stock exchanges have been advised to amend their listing regulations, it added. This move will not only support the listed companies, but will also create positive competition among the institutions offering such certification programmes and raise the benchmarks for the same.

Published in The Express Tribune, July 19^th, 2011.