RegAlert2017-05-02
Added · Updated
Public Offering (Regulated Securities Licensing) Regulations, 2017
The Securities and Exchange Commission of Pakistan mandates licensing for persons acting as bankers to an issue, consultants to an issue, and underwriters. Existing underwriters registered prior to the regulations must comply within one year, while bankers and consultants must obtain licenses within six months. The regulations establish eligibility criteria, including minimum equity and experience requirements, and set fresh license fees at Rs. 500,000 for bankers and underwriters and Rs. 200,000 for consultants. Development financial institutions are exempt from licensing as underwriters but must obtain prior approval and submit annual compliance affidavits.
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GOVERNMENT OF PAKISTAN
SECURITIES AND EXCHANGE COMMISSION OF PAKISTAN
Islamabad, the 2nd May, 2017
NOTIFICATION
S.R.O. 245 (I)/2017.— In exercise of powers conferred by sub-section (4) of section 169 read with sections 63, 64, 65, 68, 69 and 80 of the Securities Act, 2015, (Act No III of 2015), the Securities and Exchange Commission of Pakistan is pleased to make the following regulations, the same have been previously published in the official Gazette vide Notifications No.S.R.O.03(I)/2016 dated 1st January, 2016, S.R.O.35(I)/2016 dated 20th January, 2016 and S.R.O.356(I)/2016 dated 21st April, 2016, namely; -
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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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SECP published 3 documents in the last 30 days. We email you each new one the day it's published.