Consultation · SECP · 22 Sep 2020
Draft amendments to the Futures Exchange (Licensing and Operations) Regulations 2017 would replace the proviso in regulation 6(2) that gave an existing futures exchange three years to comply with the financial resource requirement. Under the proposed text, an existing futures exchange must comply within the timeline specified by the Commission. Objections or suggestions may be sent to the Commission within fourteen days of the draft amendments' placement on its website.
Government of Pakistan
Securities and Exchange Commission of Pakistan -.-.-.-
Islamabad, 22nd September, 2020
S. R. O. 903 (I)/2020.- The following draft amendments to the Futures Exchange (Licensing and Operations) Regulations 2017, proposed to be made by the Securities and Exchange Commission of Pakistan, in exercise of powers conferred by section 114 of the Futures Market Act, 2016 (XIV of 2016) are hereby published for information of all persons likely to be affected thereby and notice is hereby given that objections or suggestions thereon, if any, may be sent to the Commission within fourteen days of placement of the said draft amendments on the website of the Commission, namely:-
In the aforesaid Regulations, -
In regulation 6, sub-regulation (2), the words “Provided that an existing futures exchange shall have three years to comply with this requirement” shall be substituted by the following, namely,
“Provided that an existing futures exchange shall comply with this requirement within the timeline specified by the Commission.”
[No. SMD/FER/2020/1]
( Bilal Rasul )
Secretary to the Commission
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“in exercise of powers conferred by section 114 of the Futures Market Act, 2016 (XIV of 2016)”
“previously published in the official Gazette vide S.R.O. 903 (I)/2020 dated September 22, 2020”
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