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Chairman SECP directs Stock Markets to remain alert

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KARACHI: The Chairman Securities and Exchange Commission of Pakistan (SECP) Mr. Zafar Hijazi directed the country’s stock markets management to remain alert and counter any kind of rumors pertaining to the stock exchanges in a timely manner, direction released by Media and Corporate Communications Department of SECP.

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He asked the Stock Exchanges to promptly approach to the Commission in case of any unusual activity. Mr. Hijazi asked the Managing Directors of Karachi Stock Exchange, Lahore Stock Exchange and Islamabad Stock Exchange to monitor the activities of stock exchanges and exercise senior level of oversight to ensure that all risk management and internal controls measures are complied with.

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After the Nine Zero operation conducted by Rangers, Stock Exchanges especially Karachi Stock Exchange is witnessing volatile bearish trend. In this regard, Chairman advised the management to ensure the smooth and uninterrupted market operations.

Chairman further advised them to keep in touch with the SECP and submit reports on daily basis to confirm collection of margins including Market-to-Market (M2M) losses as per the regulations. Moreover, SECP will be always there for the facilitations of investors to ensure the integrity of the market and to boost investors’ confidence.

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