Regulatory Alerts2019-11-12
Added · Updated
Amendments to the Securities Brokers (Licensing and Operations) Regulations, 2016
The Securities and Exchange Commission of Pakistan extends the compliance deadline for securities brokers from June 30, 2019, to March 31, 2020. The amendments mandate monthly filing of net and liquid capital statements with exchanges and clearing houses, while introducing specific requirements for internal control systems and prohibiting unauthorized blank sales. Additionally, the Fit and Proper Criteria are updated to include detailed examination of Credit Information Bureau reports regarding overdue payments and to establish the Commission's final authority on fitness determinations.
Share