Regulatory Alerts2016-08-09
Added · Updated
Clearing Houses (Licensing and Operations) Regulations, 2016
The Securities and Exchange Commission of Pakistan establishes licensing requirements for clearing houses, mandating an initial paid-up capital and net worth of not less than one billion rupees. Applicants must submit Form A with a one million rupee fee and demonstrate compliance with infrastructure, governance, and risk management standards. The regulations impose strict shareholding limits, including a maximum of fifteen percent for single shareholders and forty-nine percent for non-exchange entities, while requiring Commission approval for the appointment of the chief executive officer and independent directors.
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