Regulatory Alerts2026-06-03
Added · Updated
Withdrawal of Circular No. 13 of 2023 on Licensing with Foreign Sponsors or Directors
Circular No. 13 of 2023 regarding licensing and allied applications involving foreign individuals or entities as sponsors or directors is withdrawn with immediate effect. This action is taken under the powers conferred by Section 40B and Section 20 of the Securities and Exchange Commission of Pakistan Act, 1997. The withdrawal applies to all entities previously subject to the requirements outlined in the superseded circular.
Securities and Exchange Commission of Pakistan
Licensing & Registration Division
Licensing Department
No. LRD/LD/Circular/ /2026
Circular No. 09 of 2026
Islamabad, June 02, 2026
SUBJECT: WITHDRAWAL OF CIRCULAR NO. 13 OF 2023 DATED AUGUST 31, 2023 - LICENSING AND ALLIED APPLICATIONS WITH SPONSORS/ DIRECTORS AS FOREIGN INDIVIDUALS/ENTITIES
In exercise of powers conferred by Section 40B, read with clause (d) of sub-section (4) of Section 20 of the Securities and Exchange Commission of Pakistan Act, 1997 (XLII of 1997), the Securities and Exchange Commission of Pakistan hereby withdraws Circular No. 13 of 2023 dated August 31, 2023 titled “LICENSING AND ALLIED APPLICATIONS WITH SPONSORS/ DIRECTORS AS FOREIGN INDIVIDUALS/ ENTITIES” with immediate effect.
Muzzafar Ahmed Mirza
Commissioner
(Licensing & Registration Division)
Distribution to:
(i). Chief Executive Officer, PSX, Karachi;
(ii). Chief Executive Officer, PMEX, Karachi;
(iii). Chief Executive Officer, CDCPL, Karachi;
(iv). Chief Executive Officer, NCCPL, Karachi.
NIC Building, 63-Jinnah Avenue, Islamabad
Website: www.secp.gov.pk