Meet claims : ACE Securities trading rights forfeited

KARACHI: The board of directors of the Karachi Stock Exchange (KSE) on Friday forfeited the trading right entitlement (TRE) certificate of ACE Securities due to its financial precariousness. In a statement, the KSE said the forfeiture will not affect the rights of its clients and creditors in any manner as the brokerage house remains responsible for discharging all its financial obligations. The KSE also invited other TRE certificate holders of KSE as well as investors/clients of the brokerage house to submit their claims with the default and arbitration wing of the KSE along with all the documentary evidence and duly filled investors’ claim forms. The statement said the KSE will scrutinise all the invited claims received with available records of the former TRE certificate holder, Central Depository Company and payments/receipts proving documents, including bank statements/cheques, to ascertain their legitimacy.

Published in The Express Tribune, May 16^th, 2015.

Like Business on Facebook, follow @TribuneBiz on Twitter to stay informed and join in the conversation.