Regulatory Alerts2026-06-03
Added · Updated
Withdrawal of Circular No. 14 of 2023 on Licensing Applications with Foreign Sponsors or Directors
The Securities and Exchange Commission of Pakistan withdraws Circular No. 14 of 2023 dated September 05, 2023, with immediate effect. This action removes the previous regulatory framework governing licensing and allied applications involving sponsors or directors who are foreign individuals or entities. The withdrawal applies to all insurance companies, Takaful operators, insurance intermediaries, and relevant professional associations listed in the distribution.
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