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Tag Archives: SECP

SECP initiates process to cancel registration of 23 INGOs

Advertisements ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has initiated legal proceeding against 23 international NGOs to expel them off the register of companies because of not complying with the rules and regulations of Companies Ordinance, 1984, reported by Radio Pakistan. Advertisements The process has been start after …

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SECP registered 5,001 new companies in FY15

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has registered 5,001 new companies in 2014-15, witnessing a growth of 9% as compare to FY14, reported by Media and Corporate Communication Department of SECP. After the corporatistaion of 5,001 new companies in FY15, the total number of registered companies in …

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Finance Minister Ishaq Dar kicks off SECP’s web portal ‘Jama Punji’

ISLAMABAD: The Federal Minister for Finance, Senator Mohammad Ishaq Dar has kicked-off the investor education web portal -‘Jama Punji’- of Securities and Exchange Commission of Pakistan. The web portal has been developed to educate the investors, reported by Media and Corporate Communication Department of SECP. Finance Minster lauded at the …

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Axact Fake Degrees Scandal: SECP issues show-cause notice to Axact over violation of CO 1984

ISLAMABAD: The Securities and Exchange Commission (SECP) of Pakistan has issued a show cause notice to the Axact Pvt. Ltd. company for working against its Memorandum of Association and Articles that are ‘ultra vires’ of company as per Companies Ordinance 1984. The notice has been served for non-compliance with section 496 …

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SECP: National Assembly passes Securities Bill 2015

ISLAMABAD: The National Assembly has passed the Securities Bill, 2015 reported by Media and Corporate Communications Department of SECP. According to press release of the SECP, it was a long time requirement to replace the present Securities and Exchange Ordinance 1969 (SEO 1969) with a new and comprehensive legislation to …

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Bima Mobile: SECP grants certificate of registration to Milvik Mobile

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has granted the certificate of registration to a foreign broker Milvik Mobile – which is the wholly owned subsidiary of the Milvik AB , Sweden – as Pakistan’s first mobile technology based insurance distributor. The company is working by the name …

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Consultative Group of SECP agrees to introduce various structural reforms

ISLAMABAD: The Consultative Group, formed by Securities and Exchange Commission of Pakistan (SECP) has agreed on the need for introducing structural reforms for market infrastructure institutions, including attainment of central counterparty status by the clearing house and establishment of a settlement guarantee fund to ensure a robust and efficient risk …

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SECP’s fee payment facility by credit cards gaining popularity abroad

ISLAMABAD: The facility of paying fee by credit cards launched by the Securities and Exchange Commission of Pakistan (SECP) on March 10, 2015 is achieving objectives and now SECP has been receiving fee through credit cards from various countries includes: Belize, Hong Kong, Netherlands, Saudi Arabia, Singapore, UAE, UK, and …

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SECP permits flotation of Awwal Modaraba

ISLAMABAD: The Securities and Exchange Commission (SECP) has permitted the flotation of a new Modaraba named by “Awwal Modaraba”, having paid up fund of Rs. 1 billion, reported by Media and Corporate Communications Department of SECP Awwal Modaraba Management Limited, subsidiary of Pak Brunei Investment Company Limited, will managed the Modaraba fund. The …

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SECP revised rules for Underwriters, Balloters and Transfer Agents

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP), has set new rules named ‘Underwriters Rules, 2015’ and ‘Balloters and Transfer Agents Rules, 2015’, statement released by Media and Corporate Communications Department of SECP. The purpose of these two new rules is to enhance the development of a vibrant capital …

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Revised paid-up capital requirement for life insurance and non-life insurance companies

KARACHI: The Securities and Exchange Commission of Pakistan (SECP) has raised the minimum paid-up capital requirement  for life insurance and non-life insurance companies to Rs. 700 million and Rs. 500 million respectively by 2017 to strengthening the insurance industry and non-insurance industry. According to S.R.O 225 (I)/2015 of SECP, SECP …

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SECP launches fee payment facility by credit cards

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has taken another step to facilitate the stakeholders. SECP has introduced the facility of paying fee via Credit Cards in its eServices regime. This is another step towards plastic money environment. According to press release by the Media and Corporate Communications …

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SECP amends regulatory framework for NBFCs: public comments sought

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP), under the leadership of Mr. Zafar Hijazi, Chairman of the SECP, has approved substantial amendments to the regulatory framework for the Non-Banking Financial Companies (NBFCs) inviting public’s comments, as released by Media and Corporate Communications Department of the SECP dated February …

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SECP established Islamic Finance Department

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has established an Islamic Finance Department for the regulation and development of Islamic finance market. The Islamic Finance Department will work for product development, market awareness, Shariah securities market development, and Shariah regulation and compliance such as-improving Islamic law and Islamic …

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