Regulatory Alerts2021-01-20
Added · Updated
Amendments in the Public Offering (Regulated Securities Activities Licensing) Regulations, 2017
The Securities and Exchange Commission of Pakistan inserts new sub-regulation 12(5a) requiring every development financial institution engaged in underwriting to submit an affidavit confirming compliance with the Regulations, along with a fee of Rs. 100,000, within one month of the end of each calendar year. Scheduled banks already licensed as underwriters or bankers to an issue must submit a compliance affidavit one month prior to the expiry of their existing licenses. Additionally, scheduled banks engaged in underwriting and acting as bankers to an issue under regulation 12(2) are required to submit a compliance affidavit within one month of the end of each calendar year.
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