Regulatory Alerts2026-06-30
Added · Updated
Master Circular for Mutual Funds, Collective Investment Schemes, and Investment Advisory Services as of June 30, 2026
The Securities and Exchange Commission of Pakistan establishes simplified account opening criteria for Asset Management Companies, categorizing customers into Sehl, Sahulat Sarmayakari, and Sarmayakari accounts with specific annual investment limits of 1,000,000, 3,000,000, and unlimited Rupees respectively. The document mandates digital onboarding procedures, including NADRA verification, OTP authentication, and enhanced due diligence for high-risk customers, while restricting Sehl accounts to money market and low-risk income schemes. It also permits AMCs to rely on identity verification conducted by regulated financial institutions via secure API integration and requires compliance with these digitization and AML/CFT standards within specified deadlines.