Regulatory Alerts2019-10-23
Added · Updated
Amendments to the Futures Brokers (Licensing and Operations) Regulations, 2018
The Securities and Exchange Commission of Pakistan amends the Futures Brokers (Licensing and Operations) Regulations, 2018, to modify licensing criteria, capital requirements, and reporting obligations for futures brokers. Key changes include substituting net worth verification methods for sponsors, deleting the five million rupee net capital balance requirement, and granting a 30-day grace period for compliance with minimum capital rules. The amendments also update license renewal procedures, replace license cancellation with cessation of validity, change financial reporting frequency from monthly to quarterly, and relax experience requirements for certain personnel.
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