Joint SECP-NAB Task Force agreed upon
NAB assured its whole-hearted support for the early, meaningful conclusion and disposal of pending cases of the SECP
PHOTO: NEWSPAKISTAN
ISLAMABAD:
In line with Chairman NAB’s firm resolve and commitment to eradicate corruption and corrupt practices from the country, the National Accountability Bureau (NAB) and the Securities and Exchange Commission of Pakistan (SECP) have agreed to the creation of a Joint Task Force comprising senior level officers of NAB and SECP in order to work expeditiously on corruption cases referred by SECP to NAB.
The Joint Task Force will investigate all corruption cases related to fraud, embezzlement, corrupt practices and cheating of the public at large – specifically those acts which have been carried out by sponsors, directors and management of brokerage houses of the stock exchanges and referred to the task force by the SECP on top priority basis – with the intention to recover investors’ hard earned money which has been misappropriated for personal benefits of the sponsors and directors of the brokerage houses.
For greater cohesion in the professional work and the constitution of the Joint Task Force at NAB Headquarters, 02 senior level officers and experts from SECP (one each from the legal and operation side) and senior level officers of NAB from Financial Crimes Investigation Wing, Operation and Prosecution wings will be part of the Joint Task Force.
NAB assured its whole-hearted support for the early, meaningful conclusion and disposal of pending cases of the SECP according to the law, and also to restore investors’ confidence and penalize accused persons responsible for causing loss to the general public and national exchequer.
Published in The Express Tribune, May 9th, 2015.
In line with Chairman NAB’s firm resolve and commitment to eradicate corruption and corrupt practices from the country, the National Accountability Bureau (NAB) and the Securities and Exchange Commission of Pakistan (SECP) have agreed to the creation of a Joint Task Force comprising senior level officers of NAB and SECP in order to work expeditiously on corruption cases referred by SECP to NAB.
The Joint Task Force will investigate all corruption cases related to fraud, embezzlement, corrupt practices and cheating of the public at large – specifically those acts which have been carried out by sponsors, directors and management of brokerage houses of the stock exchanges and referred to the task force by the SECP on top priority basis – with the intention to recover investors’ hard earned money which has been misappropriated for personal benefits of the sponsors and directors of the brokerage houses.
For greater cohesion in the professional work and the constitution of the Joint Task Force at NAB Headquarters, 02 senior level officers and experts from SECP (one each from the legal and operation side) and senior level officers of NAB from Financial Crimes Investigation Wing, Operation and Prosecution wings will be part of the Joint Task Force.
NAB assured its whole-hearted support for the early, meaningful conclusion and disposal of pending cases of the SECP according to the law, and also to restore investors’ confidence and penalize accused persons responsible for causing loss to the general public and national exchequer.
Published in The Express Tribune, May 9th, 2015.