RegAlert2021-12-14
Added · Updated
Circular No. 32 of 2021 – Regulatory Framework for Account Opening by AMCs
The Securities and Exchange Commission of Pakistan amends Circular No. 26 of 2021 to update the regulatory framework for account opening by Asset Management Companies. The amendments mandate Customer Risk Profiling for Collective Investment Schemes and Variable Portfolio Schemes, while making suitability assessments optional for Money Market and low-risk Income Schemes. Sehl accounts are restricted to customers of Branchless Banking, Electronic Money Institutions, and scheduled banks, with AMCs required to enforce investment limits per CNIC. Additionally, the document updates documentation requirements for online account openings and modifies fields for Next of Kin and education details.
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SECURITIES AND EXCHANGE OF PAKISTAN
Specialized Companies Division
Policy, Regulation and Development Department
No. SCD/CIRCULAR/182/2021 December 08, 2021
Circular No. 32 of 2021
Subject: Regulatory Framework for Account Opening by Asset Management Companies (AMCs)
The Securities and Exchange Commission of Pakistan in exercise of powers conferred under sub-section (3) of section 282B of the Companies Ordinance, 1984 (XLVII of 1984) hereby make following amendments in Circular No. 26 of 2021 dated October 07, 2021:
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Lineage: Amended
Timeline
Amended 1 time · last 2022-10-12
- 2022-10-12
SECPCircular No. 9 of 2022 – Regulatory Framework for Account Opening by AMCsamends
Source: Securities and Exchange Commission of Pakistan — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works