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Tag Archives: Securities and Exchange Commission of Pakistan SECP)

Non-compliance of laws: SECP springs into action against 62 violators

ISLAMABAD: Securities and Exchange Commission of Pakistan (SECP) has started show cause proceedings against 62 violators of different legal requirements. These violations pertain to Auditors’ reports, directors’ powers, delayed/non-filling of cost audit reports, investment in associated companies, misstatement of facts, takeover regulations, disclosure of directors’ interests, circulation of financial statements, employees’ provident funds and security deposits. As per details, the ... Read More »

Issues in eServices: SECP extends filing date of Form 29 till Nov 18

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has extended the filing date of Form 29 for companies which held their annual general meetings (AGM) on October 30 and October 31 till November 18 (Tuesday). Earlier, the last filing date was November 13 and 14 for the companies, which held their AGM on October 30 and 31, 2014, respectively. ... Read More »

SECP takes notice of mis-statements by insurance companies  

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP)while taking notice of mis-statements filed by an insurance company under Companies Ordinance, 1984 (Ordinance) has warned the company’s top brass to avoid such misstatements in the future. The SECP has issued an official order about the matter here the other day. The order has disposed of the proceedings initiated against an ... Read More »

OGDCL barred from selling Rs350m shares

PESHAWAR: The Peshawar High Court, hearing the writ petition filed by the Khyber Pakhtunkhwa government, has barred Oil and Gas Development Company Limited (OGDCL) from privatising shares worth Rs350 million. As per court orders issued by two-member bench comprising Justice Qaiser Rashid Khan and Justice Musarrat Hilali, the OGDCL, Privatisation Commission and Securities and Exchange Commission of Pakistan (SECP) have ... Read More »

SECP starts 42 show-cause proceedings

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has initiated 42 new show-cause proceedings in July and August due to non-compliance with legal requirements. During the last two months, the SECP’s Enforcement Department concluded 50 ongoing proceedings against the companies and chief executives, directors and auditors of the companies. Moreover, 19 investor complaints pertaining to non-issuance of shares, non-verification ... Read More »

SECP striving to ease regulatory regime

KARACHI: The Securities and Exchange Commission of Pakistan (SECP) is working towards procedural improvements to make the regulatory compliance regime easier for registered entities. SECP Chairman Tahir Mahmood said that the commission aimed at improving the business climate by reducing bottlenecks in the appointment of foreign directors in local companies and simplifying the disclosure requirements for unlisted companies. The SECP ... Read More »

Dar to present report on SECP statement of accounts to NA

ISLAMABAD: The Finance Ministry has received the annual report on statement of accounts of the Securities and Exchange Commission of Pakistan SECP) for fiscal year 2012-13. “The annual report on SECP statement of accounts is certified by the auditors” a Finance Ministry official told Customs Today while seeking anonymity here. The official informed that Finance Minister Ishaq Dar would present ... Read More »