Regulatory Alerts1999-08-30
Added · Updated
Anti-Corruption Measures
The Securities and Exchange Commission of Pakistan prohibits its officers and staff from contacting companies, management, or the public regarding official matters via telephone or other media without prior authorization from the concerned Commissioner. Authorized officers may obtain requisite information to remedy deficiencies in documents submitted to the Commission or Registrars of Companies based on a recorded decision on the relevant file. Non-compliance with these instructions subjects the offender to disciplinary action under relevant rules and potential criminal proceedings.
Anti-Corruption Measures. August 30, 1999 Circular No. 14 Reference No. 6(11)Admn/SECP/99 The following instructions are hereby issued, without prejudice to the relevant "conduct, efficiency and discipline rules", for strict compliance:- i) The officers and staff working with the Commission shall not contact any of the companies and their management, and the general public in connection with any official matter on telephone or through other media, without previous authorisation of the Commissioner concerned. ii) For the purpose of removing a deficiency in documents submitted to the Commission or Registrars of Companies, the requisite information may be obtained by an authorized officer on the basis of a decision recorded on the relevant file. 2. Infringement of or non-compliance with the above instructions may lead to disciplinary action under the relevant rules and also criminal proceedings against the person concerned. (Abdul Rehman Qureshi) Commissioner (CL) Distribution:-
- All Officers and staff at Headquarter's office
- All the CROs.
- Notice Board Copy for information to the Chairman and the Commissioners.