Securities Managers (Licensing and Operations) Regulations, 2024

The Securities and Exchange Commission of Pakistan establishes licensing conditions for securities managers, requiring a minimum net worth of thirty million rupees and a valid securities broker license. Applicants must maintain a Broker Fiduciary Rating of BFR 2, employ qualified senior management, and adhere to strict operational standards including prohibitions on proprietary trading conflicts and mandatory risk profiling of clients. The regulations mandate specific disclosure documents, written agreements defining mutual liabilities, and the submission of advertisements to the Commission within thirty-six hours of publication.

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GOVERNMENT OF PAKISTAN
SECURITIES AND EXCHANGE COMMISSION OF PAKISTAN Islamabad, 6th November, 2024 NOTIFICATION S.R.O. 1805/(I)/2024. - In exercise of powers conferred by section 169 read with sections 68, 69, 75, 78, 79, 80, 82, 84 and 151 of the Securities Act, 2015 (III of 2015), the Securities and Exchange Commission of Pakistan hereby makes the following regulations, the same being previously published in the official Gazette vide S.R.O. 728(I)/2024 dated 17th May, 2024 and also placed on its website as required under sub-section (4) of section 169 of the said Act, namely:
CHAPTER I
PRELIMINARY

Short title and commencement. - (1) These Regulations shall be called the
Securities Managers (Licensing and Operations) Regulations, 2024.
(2) They shall come into force at once.
Definitions. - (1) In these regulations, unless there is anything repugnant in the
subject or context, –
(a) “Act” means the Securities Act, 2015 (III of 2015); (b) “advertisement” means dissemination or conveyance of information, or an invitation or solicitation, in respect of the services that the securities manager is licensed to carry on, by any means or in any form, including, —

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Lineage: In force

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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