RegAlert2024-05-31
Added · Updated
Futures Brokers (Licensing and Operations) Regulations 2018
The Securities and Exchange Commission of Pakistan establishes licensing requirements for futures brokers, including a minimum net worth of Rs. 10 million for standard brokers and Rs. 5 million for Agri-Only brokers. Applicants must secure prior Commission permission, maintain sponsor shareholding thresholds, and pass fit-and-proper person criteria before obtaining a one-year license. The regulations mandate ongoing compliance with capital adequacy, reporting obligations, and operational standards, with the Commission empowered to suspend or cancel licenses for non-compliance.
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Government of Pakistan
Securities and Exchange Commission of Pakistan Islamabad, 25th September, 2018 NOTIFICATION S. R. O. 1164(I)/2018.- In exercise of the powers conferred by sub-section (1) of section 114 read with sections 47, 48, 51, 52, 58, 59, 60, 61, 62, 63, 64, 66, 68 and 95 of the Futures Market Act, 2016, (XIV of 2016), the Securities and Exchange Commission of Pakistan hereby makes the following regulations, the same being previously published in the official Gazette vide S.R.O. 600(I)/2018 dated May 9, 2018, namely:
CHAPTER I
PRELIMINARY
- Short title and commencement. - (1) These regulations shall be called the Futures Brokers
(Licensing and Operations) Regulations, 2018.
(2) These regulations shall come into force at once.
(3) These regulations shall apply to Futures Brokers dealing in Futures contracts based on specified commodities and financial instruments offered by or traded on futures exchange other than a securities exchange. - Definitions.-(1) In these regulations, unless there is anything repugnant in the subject or context, –
(a) "Act" means the Futures Market Act, 2016 (XIV of 2016); (b) “Annexure” means annexure appended to these regulations; (c) “advertisement” means dissemination or conveyance of information, or an invitation or solicitation, in respect of the services that the futures broker is licensed to carry on, by any means or in any form, including by means of, — (i) publication in a newspaper, magazine, journal or other periodical; (ii) display of posters, notices, billboards, hoardings etc.; (iii) circulars, handbills, brochures, pamphlets, books or other documents; (iv) letters addressed to individuals or bodies; (v) photographs or cinematograph films; (vi) sound broadcasting, television, the Internet or other media; or (vii) tele-marketing and SMS marketing. (d) “Companies Act” means the Companies Act, 2017 (XIX of 2017) [(da) “Agri-Only futures broker” mean a sub-category of futures broker, which can
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Lineage: In force
Show all related documents (11)
- Amends
- Amendments to the Futures Brokers (Licensing and Operations) Regulations, 20182019Notification No. 1478(I) dated 2018-12-07not in RegAlertNotification No. 1819(I) dated 2023-12-13not in RegAlertNotification No. 1912(I) dated 2022-10-14not in RegAlertNotification No. 2445(I) dated 2025-12-12not in RegAlertNotification No. 553(I) dated 2021-04-29not in RegAlert
- Issued under
- The Securities Act, 2015 (Act No. III of 2015)2015The Securities and Exchange Commission of Pakistan Act, 1997 (Act No. XLII of 1997)1997
- Refers to
- The Companies Act, 2017 (Act No. XIX of 2017)2017Anti-Money Laundering Act, 2010 (Act No. VII of 2010)2010The Companies Ordinance, 1984 (Ordinance No. XLVII of 1984)1984
Timeline
This document amends: Amendments to the Futures Brokers (Licensing and Operations) Regulations, 2018
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
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