ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) issued four warning letters to members of the Karachi Stock Exchange for operational malpractice in July, according to a statement issued by SECP on Monday. Five warning letters were issued to beneficial owners of the listed companies for late filing of returns, the statement added. Additionally, six show-cause notices were served to the beneficial owners of the listed companies and a show-cause notice was also issued to a brokerage house for a violation of the 2001 Brokers and Agents Registration Rules. The statement further said that the prevailing regulatory framework is continuously being improved for the development of a conducive market and in this regard, seven amendments were approved to the existing regulations.
Published in The Express Tribune, August 16th, 2011.