Wednesday , July 8 2020
Breaking News
Home / Tag Archives: Securities and Exchange Commission of Pakistan SECP)

Tag Archives: Securities and Exchange Commission of Pakistan SECP)

SECP chairman’s appointment challenged in NAB court

ISLAMABAD: An application has been filed with the National Accountability Bureau (NAB) against the appointment of Shaukat Hussain Abbasi as chairman of the Securities and Exchange Commission of Pakistan (SECP). The application filed by advocate Nawaz Kharal challenged the appointment, claiming it was illegal, without jurisdiction, based on favouritism, nepotism, violation of transparency, level playing field and deviation from the ... Read More »

Hussain Lawai resigns as PSX Board chairman

LAHORE: In an emergent meeting of the Pakistan Stock Exchange (PSX), the board considered and accepted Hussain Lawai’s resignation as PSX Board chairman with immediate effect. Earlier, Securities and Exchange Commission of Pakistan (SECP) had directed PSX vide direction dated July 10, 2018, to immediately remove Hussain Lawai as PSX Board of Directors Chairman. The SECP issued the direction considering ... Read More »

FIA shifts Lawai to Islamabad for further investigation

ISLAMABAD: The Federal Investigation Agency (FIA) shifted banker Hussain Lawai to Islamabad for further investigation in a money laundering probe. The FIA team flew from the Karachi’s Jinnah International Airport with Lawai at 4pm. The banker will be investigated by senior FIA authorities in the federal capital. Lawai was arrested by the FIA on July 6 on money laundering charges ... Read More »

From 9:30am-1:00pm, 2:00pm-4:00pm SECP increases business hours

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP), in order to facilitate the people, has extended its business hours for public dealings. According to a statement, the Commission in its 18th meeting has approved the revised timing for public dealing by the Companies Registration Offices (CROs). The CROs will be open for transaction of business with the public from ... Read More »

77,000 people served notices: 15,000 out of 64,000 companies file income tax returns Dec 31

ISLAMABAD: Federal Board of Revenue (FBR) has given a list of 10,000 companies to the Securities and Exchange Commission of Pakistan (SECP) that have not filed their income tax returns yet. Sources said that only 15,000 out of over 64,000 registered companies filed income tax returns by the last date of December 31, 2014. The figure was also lower than ... Read More »

15,000 out of 64,000 registered companies file income tax returns Dec 31

ISLAMABAD: Federal Board of Revenue (FBR) has given a list of 10,000 companies to the Securities and Exchange Commission of Pakistan (SECP) that have not filed their income tax returns yet. Sources said that only 15,000 out of over 64,000 registered companies filed income tax returns by the last date of December 31, 2014. The figure was also lower than ... Read More »

12% growth: SECP registers 2,192 companies in 6 months of FY 2014 against 1,950 in 2013

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has registered 2,192 new companies during first half (July-December) of current fiscal year as compare to 1,950 companies registered during the same period last year, reflecting growth of 12 per cent in new incorporation. The SECP incorporated 469 companies in only in December 2014. The new incorporation includes two foreign companies ... Read More »

17 out of 29 issues offered: SECP approves book-building regulations 2015

ISLAMABAD: Continuing the practice of both the developed and emerging markets, the Securities and Exchange Commission of Pakistan (SECP) has approved the draft Book-Building Regulations, 2015 for issue of shares to the public. According to the SECP, the existing book-building regulations, which are part of the listing regulations of stock exchanges, are not being enforced effectively as they are not ... Read More »

SECP fixes growth rate for life insurance and family takaful at 7%, 9%, 11% for 2015

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has specified growth rate scenarios for life insurance and family takaful illustration at 7pc, 9pc and 11pc for 2015. The SECP specified the growth rate scenarios through a circular. Life insurance and family takaful product illustration is an integral part of the overall sales process. It helps enhance transparency, provides better ... Read More »

New companies law: SECP asks Law Review Commission to submit draft till March 31

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP), in a meeting headed by Chairman Zafar Hijazi, has urged the Corporate Law Review Commission Secretariat to submit the final draft of the new companies law by March 31, 2015, which will provide a breathing space for smaller companies by way of lesser regulation and an encouraging regime for raising and ... Read More »

Exemption from IFRS provisions: SECP turns down Engro Powergen Qadirpur’s plea

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) turned down the Engro Powergen Qadirpur (EPQ) plea for relaxation of disclosure requirements of International Financial Reporting Standards (IFRS). The commission explained that maximum disclosure of information of financial statements was required, and exemptions from provisions of IFRS will suppress the objective of comparability and transparency through financial statements. EPQ, a ... Read More »

SECP sets Hascol floor price per share at Rs20 as concept of price band discarded

KARACHI: The Securities and Exchange Commission of Pakistan (SECP) while discarding concept of price band or cap on the floor price, set the floor price for book building of Hascol at Rs20 per share. According an SECP release, the commission determined strike price at Rs56.50 per shares through the book building, i.e. 182.5pc above the floor price. It recalled that ... Read More »

Guidelines for maintaining websites: SECP prods public limited cos into action

ISLAMABAD: Taking notice of the considerable delay in maintaining websites, the Securities and Exchange Commission of Pakistan (SECP) issued guidelines, directing the public limited companies to maintain their websites properly. According to the commission, some public limited companies have failed to maintain their websites despite a considerable lapse of time. It is to be noted that earlier the SECP had ... Read More »

SBP 6-month moratorium on KASB Bank: SECP allows KSL trading on 100% cash

KARACHI: the Securities and Exchange Commission of Pakistan (SECP) has allowed KASB Securities Limited (KSL) to start business again after it has lifted ban on trading imposed on Nov 18 following the imposition of a six-month moratorium on KASB Bank by the SBP for failing to meet capital adequacy requirements. The bank is the parent company of the brokerage house and ... Read More »

Business on 100% cash: SECP allows KSL to start trading

KARACHI: the Securities and Exchange Commission of Pakistan (SECP) has allowed KASB Securities Limited (KSL) to start business again after it has lifted ban on trading imposed on Nov 18. According to the chief regulator, the ban was lifted on the Karachi Stock Exchange’s (KSE) suggestion of allowing the KSL limited trading. The SECP has directed the KSL to execute ... Read More »

SECP not merging 3 small Islamic investment entities after KASB put in 6mth SBP moratorium

KARACHI: The Securities and Exchange Commission of Pakistan (SECP) has clarified a press report that the Commission is considering merging three small Islamic investment entities after the State Bank of Pakistan (SBP) took control of KASB Bank Limited and said that no such proposal is under consideration. The SECP said the Frist Prudential Modaraba by KASB was being managed by ... Read More »

SECP not merging 3 small Islamic investment entities after KASB put in 6mth SBP moratorium

KARACHI: The Securities and Exchange Commission of Pakistan (SECP) has clarified a press report that the Commission is considering merging three small Islamic investment entities after the State Bank of Pakistan (SBP) took control of KASB Bank Limited and said that no such proposal is under consideration. The SECP said the Frist Prudential Modaraba by KASB was being managed by ... Read More »

Opening: KSE on course to recovery as index gains 94pts, 0.30pc to reach 31333pt

KARACHI: The stock market after remaining a picture of complete chaos and confusion, picked up momentum and restarted upward march with benchmark KSE-100 index gained 94.24 points or 0.30 percent to reach 31,333 points in early trading on Friday. The Karachi Stock Exchange opened at the overnight closing of 31239.04 points and appeared positive, showing signs of recovery, although it ... Read More »

SECP not merging 3 small Islamic investment entities after KASB put in 6mth SBP moratorium

KARACHI: The Securities and Exchange Commission of Pakistan (SECP) has clarified a press report that the Commission is considering merging three small Islamic investment entities after the State Bank of Pakistan (SBP) took control of KASB Bank Limited and said that no such proposal is under consideration. The SECP said the Frist Prudential Modaraba by KASB was being managed by ... Read More »

Rs50m loan among violation: SECP takes up 62 show-cause, 30 already concluded

ISLAMABAD: While enforcing compliance of corporate and allied laws, the Securities and Exchange Commission of Pakistan (SECP) began proceedings on 62 show cause notices served on different companies for non-compliance of legal requirements. The violations legal requirements included auditors’ reports, directors’ powers, delayed/non-filling of cost audit reports, investment in associated companies, misstatement of facts, takeover regulations, disclosure of directors’ interests, ... Read More »