Regulatory Alerts2017-05-02
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.
Topics
Share