Violation: SECP warns listed companies
SECP issued four warning letters to members of the Karachi Stock Exchange for operational malpractice in July
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.
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.