Stock Market Plunge: SECP clarifies fluctuation
The joint task force comprising senior officers of the SECP and NAB is also expeditiously working on these cases
KARACHI:
The Securities and Exchange Commission of Pakistan (SECP) has dismissed reports that the stock market has experienced fluctuations due to the reference of brokers’ cases to the National Accountability Bureau (NAB). In a statement on Tuesday, the SECP clarified that NAB has been approached to take punitive action exclusively against those brokers who embezzled shareholders’ assets and have fled the country. The SECP said no other case against brokerage houses has been referred to NAB for any regulatory violations. The SECP chairman recently met the NAB chairman once again to pursue those particular cases of misappropriation, it said. The joint task force comprising senior officers of the SECP and NAB is also expeditiously working on these cases, it added.
Published in The Express Tribune, September 30th, 2015.
Like Business on Facebook, follow @TribuneBiz on Twitter to stay informed and join in the conversation.
COMMENTS
Comments are moderated and generally will be posted if they are on-topic and not abusive.
For more information, please see our Comments FAQ