The board was briefed on evaluations and recommendations given to avoid such a crisis in the future. PHOTO: PID
The Securities and Exchange (SECP) Policy Board meeting was held on Saturday to consider various policy matters and issues.
The major issue presented for information and approval of the Policy Board was the inquiry report, led by Shamim Ahmad Khan’s Committee, constituted to study the 2008 stock market crisis. The board was briefed on evaluations and recommendations given to avoid such a crisis in the future.
The board was also briefed on capital market reforms to strengthen the regulatory regime and the status of demutualisation and integration of the stock exchange.
The board approved constitution of Small Dispute Resolution Committees under Section 117 of the Insurance Ordinance 2000 and increase in minimum paid-up capital requirements for insurers. An update on evaluation of International Organisation of Securities Commissions (IOSCO) of the SECP was also given.
Published in The Express Tribune, August 16th, 2015.
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