Regulatory Alerts2018-01-30
Added · Updated
Securities Brokers (Licensing and Operations) Regulations 2016
The Securities and Exchange Commission of Pakistan establishes licensing requirements and operational rules for securities brokers, including eligibility criteria such as sponsor shareholding thresholds and fit-and-proper person standards. The regulations mandate minimum financial resources, requiring a paid-up capital and net worth of 35 million PKR and a net capital balance of 5 million PKR, with specific compliance deadlines for existing brokers. It further defines prohibited activities like blank sales, outlines application procedures through securities exchanges, and prescribes restrictions on trading facilities for entities failing to meet capital or reporting obligations.
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