GOVERNMENT OF PAKISTAN
SECURITIES AND EXCHANGE COMMISSION OF PAKISTAN -.-.-.- Islamabad, the 30th December, 2021

NOTIFICATION

S.R.O. 1665 (I)/2021.- In exercise of the powers conferred under section 169 of the Securities Act, 2015 (III of 2015), the Securities and Exchange Commission of Pakistan is pleased to make the following amendments in the Securities Brokers (Licensing and Operations) Regulations, 2016, the same having been previously published in the official Gazette vide notification S.R.O. 1462(I)/2021 dated November 10, 2021, as required under sub-section (4) of section 169 of the Securities Act, 2015 and subsection (4) of the section 114 of the Futures Market Act, 2016 for eliciting public opinion, namely:-

AMENDMENTS

In the aforesaid Regulations, in regulation 6, in sub-regulation (1A), -

(a) after the word “Commission” the expression “to a securities broker or category of securities brokers” and for the term “each” the term “and the” shall be substituted; and

(b) for the first proviso the following shall be substituted, namely: -

“Provided that the minimum net worth requirement for Trading and Self Clearing category shall be increased to rupees 60 million with effect from April 01, 2022 and shall be further increased to rupees 75 million with effect from April 01, 2023 or such extended dates as specified by the Commission.”.

[File No. SMD/SE/2(267)/2016]