Regulatory Alerts2016-06-24
Added · Updated
Securities Brokers (Licensing and Operations) Regulations 2016
The Securities and Exchange Commission of Pakistan establishes licensing requirements for securities brokers, prohibiting unlicensed operations and defining three categories: Trading Only, Trading and Self-Clearing, and Trading and Clearing. The regulations mandate minimum paid-up capital, net worth, and net capital balance thresholds ranging from PKR 15 million to PKR 100 million depending on the category, with specific compliance timelines for existing entities. It requires applicants to meet fit and proper person criteria, maintain specific sponsor shareholding percentages, and submit regular financial statements, while empowering the Commission to restrict trading or suspend licenses for non-compliance.
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