Insider trading: SECP denies getting any request from OGRA

SECP says as an apex regulator of the securities market it is part of its mandate to regulate the markets.


Our Correspondent May 02, 2013
SECP has said that Ogra has so far not approached it for anything. PHOTO: FILE

ISLAMABAD:


According to a statement issued by the Securities and Exchange Commission of Pakistan - in response to a story which said that Ogra had asked the regulator to chalk out a mechanism for cracking down on brokers and company officials allegedly involved in the insider trading in shares of oil and gas companies and refineries - the SECP has said that Ogra has so far not approached it for anything.


In the statement SECP also reiterated that as an apex regulator of the securities market it is part of its mandate to regulate the markets, to curb unfair market practices, bring transparency and for the protection of investors, and in doing so it actively monitors the trading activities in the stock market and takes punitive action against the non-compliant market participants.

Published in The Express Tribune, May 3rd, 2013.

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