NOTIFICATION

S.R.O. 1581 (I)/2021- In exercise of the powers conferred by section 40B of the Securities and Exchange Commission of Pakistan Act, 1997 (XLII of 1997), read with sub-section (3) of section 64 of the Securities Act, 2015 (III of 2015), the Securities and Exchange Commission of Pakistan is pleased to grant exemption to the banking companies licensed and authorized by the State Bank of Pakistan to open Roshan Digital Accounts (RDA) and performing the function of distributing units of Collective Investment Schemes (CIS) and/ or Voluntary Pension Schemes (VPS) of multiple Asset Management Companies (AMCs) to their RDA holders, from the requirement of obtaining license under sub-section (1) of section 64 of the securities Act, 2015 (III of 2015), to undertake regulated securities activity as securities advisor:

Provided that such banking companies shall comply with all other requirements prescribed under the applicable regulatory framework.

[File No. SY/SECP/8/13]

( Bilal Rasul )
Secretary to the Commission

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Issued under

The Securities Act, 2015 (Act No. III of 2015)2015 · PK-LAW
“read with sub-section (3) of section 64 of the Securities Act, 2015 (III of 2015)”