Regulatory Alerts2023-11-23
Added · Updated
The Securities Brokers (Licensing and Operations) Regulations, 2016
The Securities and Exchange Commission of Pakistan establishes licensing requirements and operational rules for securities brokers, including provisions allowing licensed brokers to undertake futures contracts based on securities and financial instruments. The regulations mandate prior permission from the Commission for incorporation, require sponsors to hold at least 51% of share capital, and impose fit and proper person criteria on directors and senior management. Applicants must demonstrate financial resources not less than twice the paid-up capital requirement, maintain mandatory personnel certifications, and ensure ultimate beneficial owners have no relevant criminal convictions.
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