Regulatory Alerts2025-04-15
Added · Updated
Amendments to Non-Banking Finance Companies and Notified Entities Regulations, 2008
The Securities and Exchange Commission of Pakistan amends the Non-Banking Finance Companies and Notified Entities Regulations, 2008 to introduce Shariah compliance requirements and update fee structures for Collective Investment Schemes and Pension Funds. Effective July 1, 2025, new management fee caps are established for various scheme types, such as up to 3.00% for Equity Schemes and 2.50% for Equity sub-funds, while earlier caps remain applicable until June 30, 2025. Asset Management Companies and Pension Fund Managers must obtain Shariah compliance certificates, engage external Shariah auditors, and submit specific disclosures regarding governance frameworks and non-compliant assets. Additionally, the regulations mandate the payment of Market Development Charges from remuneration and require the disclosure of distributor lists on digital platforms.