Regulatory Alerts2021-01-20
Added · Updated
Amendments to the Securities and Futures Advisers (Licensing and Operations) Regulations, 2017
The Securities and Exchange Commission of Pakistan amends the Securities and Futures Advisers (Licensing and Operations) Regulations, 2017, to introduce new licensing criteria for individuals, including mandatory certifications from the Institute of Financial Markets and inclusion on the Active Taxpayer List. The amendments reduce the required professional experience for securities and futures advisers from five years to three years and lower the educational qualification from a post-graduate degree to sixteen years of education. Additionally, a capital requirement of Rs. 500,000 is imposed on individuals, and specific references to the Companies Ordinance, 1984, are updated to the Companies Act, 2017.
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