Protecting Investors: Senate unanimously passes SECP Bill

The new bill would better assist the SECP in regulating investments made in the country.

ISLAMABAD:

The Senate on Tuesday unanimously passed the Securities and Exchange Commission of Pakistan (Amendment) Bill of 2013 aimed at regulating the domestic capital market and safeguarding the interest of investors.

The bill which has already been passed by the National Assembly will become an Act after signed by the President. The bill was introduced by Finance Minister Saleem Mandviwalla. The purpose of this bill is to amend the Securities and Exchange Commission of Pakistan Act of 1997 with a view to make it more effective in achieving its prime objective.

The proposed amendments will remove certain practical difficulties experienced in protecting the enforcement and other related actions of the commission to ensure their continuity and effectiveness in connection with regulating the capital market and safeguarding the interest of investors.

Published in The Express Tribune, March 13^th, 2013.

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