Regulatory Alerts2020-09-07
Added · Updated
Public Offering (Regulated Securities Activities Licensing) Regulations, 2017
The Securities and Exchange Commission of Pakistan mandates that persons acting as bankers to an issue, consultants to an issue, and underwriters must obtain a license to operate. The regulations establish eligibility criteria, application procedures, and licensing conditions, while repealing the Underwriters Rules, 2015. Existing underwriters registered prior to the regulations have one year to comply, whereas bankers and consultants have six months. Development financial institutions and scheduled banks are exempt from licensing for these roles provided they meet specific eligibility criteria and pay prescribed fees.
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