Regulatory Alerts2024-05-31
Added · Updated
Futures Exchanges (Licensing and Operations) Regulations 2017
The Securities and Exchange Commission of Pakistan establishes licensing requirements for futures exchanges, mandating an initial application fee of five million rupees and an annual renewal fee of one million five hundred thousand rupees. Applicants must maintain a minimum net worth of five hundred million rupees, or one billion rupees if also holding a securities exchange license, and comply with strict governance standards including board composition and fit-and-proper criteria for directors and senior management. The regulations further require the implementation of robust risk management, cyber security, and business continuity systems, alongside the establishment of settlement guarantee and investor protection funds.
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