Regulatory Alerts2015-10-15
Added · Updated
Joint Inspection Regulations 2015
The Securities and Exchange Commission of Pakistan establishes a joint inspection regime for Securities Brokers, Broker Participants, and Broker Clearing Members of NCCPL. The regulations mandate quarterly risk-based selection of brokers for inspection by an Oversight Committee, requiring at least 25% of inspections to occur without prior notice. Inspections are conducted by teams comprising members from Securities Exchanges, the Central Depository, and NCCPL, with reports due within 75 days and non-compliances subject to limited scope re-inspections. The framework defines specific timelines for notices, reporting, fee structures, and the composition of the Oversight Committee responsible for supervising these activities.
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