RegAlert2017-01-12
Added · Updated
Debt Securities Trustees Regulations 2017
The Securities and Exchange Commission of Pakistan establishes licensing requirements for debt securities trustees, mandating a minimum equity of fifty million rupees and an entity credit rating of at least A-. Licensed entities must renew their licenses annually, with financial institutions exempt from specific licensing procedures if they meet eligibility criteria and submit annual compliance affidavits. The regulations impose strict duties on trustees to protect investor interests, including monitoring issuer covenants, enforcing security upon default, and reporting semi-annually to the Commission and securities exchanges. Trustees are prohibited from acting in issues involving associated companies, underwriting, or where significant shareholding or liability overlaps exist to prevent conflicts of interest.
SECP published 3 documents in the last 30 days — get each new one by email the day it lands.
Government of Pakistan
SECURITIES AND EXCHANGE COMMISSION OF PAKISTAN
Islamabad, 11th January, 2017
NOTIFICATION
S.R.O. 15 (I)/2017. — In exercise of powers conferred by section 169 read with sub-section (4) thereof and sections 63, 64, 65, 68 and 69 of the Securities Act, 2015 (III of 2015), and having been previously published in the official Gazette vide notification S.R.O. 1009(I)/2016 dated October 27, 2016 as required by sub-section (4) of section 169 thereof, the Securities and Exchange Commission of Pakistan hereby makes the following Regulations, namely:
Read the rest free, and get an email when SECP publishes again
Lineage: In force
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
More like this from SECP
SECP published 3 documents in the last 30 days. We email you each new one the day it's published.