Regulatory Alerts2017-08-23
Added · Updated
SRO 838(I)/2017 Amendments to Public Offering Regulations, 2017
The Securities and Exchange Commission of Pakistan amends the Public Offering Regulations, 2017 to update definitions and references from the Companies Ordinance, 1984 to the Companies Act, 2017. The amendments introduce specific regulatory requirements for Sukuk and Shariah compliant securities, including mandatory engagement of Shariah Advisors, annual Shariah audits, and detailed prospectus disclosures regarding asset backing and investor risk. Issuers are required to ensure compliance with Islamic Financial Accounting Standards and disclose Shariah compliance fees, while exemptions are granted for Sovereign and Government Guaranteed Sukuk regarding certain underwriting and security provisions.
Topics
Share