Tag Archives: Securities and Exchange Commission of Pakistan

SECP files criminal case against former executive of leading bank for insider trading

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ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has filed a criminal case against a former senior banker of a leading bank in the country.

SECP directs companies to provide source of funds amounting Rs5 million and above

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ISLAMABAD: Securities and Exchange Commission of Pakistan (SECP) has asked all the registered companies to provide source of funding amounting Rs5 million or above received during a financial year.

SECP approves listing of wheat futures contracts on PMEX

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ISLAMABAD: Securities and Exchange Commission of Pakistan (SECP) has approved listing of wheat futures contracts on Pakistan Mercantile Exchange Limited (PMEX) in an endeavor to augment the portfolio of agricultural commodities in domestic futures market.
Wheat futures contract is a pilot project, which will be carried out in district Sheikhupura, Muridke and adjoining areas, said a statement on Tuesday.
The prominent stakeholders such as Pakistan Agricultural Coalition, Agriculture Department, Government of the Punjab, have also been involved in the consultation process for launch of this product to ensure its acceptability by the market participants. PMEX is a technology driven, electronic, transparent and regulated market and it will provide participants a great alternative to the traditional trading market that is burdened with middlemen and profiteers.
The salient features of the PMEX wheat futures contracts include compulsory delivery, swift payment to seller/farmers, quality certification of wheat and availability of multiple grades of wheat for trading.
The participation of investors at a national level market of PMEX will result in better price discovery and benefit the growers by fetching better price for their produce. The PMEX wheat futures contract has been modelled in such a way that it will provide the processors an opportunity to procure good quality wheat.
The addition of wheat futures contract will strengthen the agricultural product portfolio of PMEX that earlier included paddy rice and red chilli futures contracts.
This approval is a step towards developing an international level agri-product financing and trading ecosystem. The SECP has already approved collateral management framework in consultation with State Bank of Pakistan, Pakistan Banks Association, provincial governments and farmers’ associations; notification for this has been approved by the federal cabinet and is in the process of issuance.
Under the framework a collateral management company would be established for overseeing agri-commodity warehouses, Central Depository Company of Pakistan Limited and banks have shown interest in investing in the collateral management company, which is a critical component for putting in place electronic warehousing receipts. Here it is pertinent to highlight that issuance and trading of electronic warehousing receipts is one of the main goals of national financial inclusion strategy.

Integrated portal of company, tax registration becomes functional

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ISLAMABAD: An integrated platform for company and tax registration with Securities and Exchange Commission of Pakistan (SECP) and Federal Board of Revenue (FBR) has become functional, said a statement on Tuesday.

SECP files criminal case for manipulating prices of 28 scrips

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ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) filed another criminal complaint against Darson Securities (Private) Limited (Darson) and three clients for manipulating the prices of 28 scrips from April 1, 2012 to May 15, 2014. The case has been filed in the Karachi sessions court.

Modarab companies to provide information of individuals having Rs10m investment

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ISLAMABAD: Securities and Exchange Commission of Pakistan (SECP) has made mandatory for modaraba companies to provide information of individuals, who have made Rs10 million and above investment.

SECP launches crackdown against 30 illegal trading operators

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ISLAMABAD: Securities and Exchange Commission of Pakistan (SECP) has launched crackdown against 30 unlicensed operators engaged in illegal trading operations in currency and commodity futures in various cities of the country.

SECP issues draft amendments to Sukuk regulations for development of Islamic capital market

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ISLAMABAD: Securities and Exchange Commission of Pakistan (SECP) has issued draft amendments to Sukuk regulations in order to develop the Islamic capital market and reducing cost of issue and easing regulatory burden.

SECP signs agreement with audit profession regulator

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ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) and the Audit Oversight Board (AOB), an audit profession regulatory body, signed an MOU on Friday at the SECP head office in Islamabad.

SECP files criminal case for manipulating Pak Electron shares

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ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) filed criminal case against CEO of Cedar Capital (Private) Limited (CCPL) and his two prominent clients for manipulating the prices of the share of Pak Electron Limited (PAEL) at Pakistan Stock Exchange.