Tag: secp

SECP pushes adoption of IFRS 17 by Insurance sector

ISLAMABAD, Apr 24 (APP): The Institute of Chartered Accountants of Pakistan (ICAP) held a seminar in collaboration with the Asian Oceanian Standard Setters Group, on IFRS 17 implementation in Karachi on April 23, 2024. Commissioner of Insurance, Aamir Khan while delivering the keynote address apprised the participants that the adoption of international reporting standards and… Continue reading SECP pushes adoption of IFRS 17 by Insurance sector

SECP grants registration to first digital insurer

ISLAMABAD, Apr 17 (APP):The Securities and Exchange Commission of Pakistan (SECP) has registered and issued license to  M/s Salaam Family Takaful Limited as the first ever digital family takaful operator. The registration regime for digital-only insurers and dedicated micro-insurers was introduced through an amendment to the Insurance Rules, 2017, notified vide S.R.O 1513(I)/2022, aiming to… Continue reading SECP grants registration to first digital insurer

SECP files complaint against two individuals on violation of trading

ISLAMABAD, April 17 (APP):The Security and Exchange Commission of Pakistan (SECP) has filed complaint against two individuals on violations of trading. Based on an investigation conducted under the Securities Act, 2015, the SECP has filed a criminal complaint against two individuals who were found involved in front-running equity trading by a large institutional investor during… Continue reading SECP files complaint against two individuals on violation of trading

PSX issues ESG Primer for listed companies

ISLAMABAD, Apr 17 (APP):The Pakistan Stock Exchange (PSX) has taken yet another major step in realising its vision of ESG readiness for listed companies by issuing the PSX Primer on Environmental, Social & Governance (ESG). The sector agnostic Primer on ESG is a detailed booklet and first of a series of publications meant for guiding… Continue reading PSX issues ESG Primer for listed companies

SECP publishes report on Pakistan’s potential for micro and inclusive insurance

ISLAMABAD, Apr 16 (APP):The Securities and Exchange Commission of Pakistan has issued a report titled “Unlocking the Potential of Micro and Inclusive Insurance in Pakistan,” which provides an overview of the current landscape and vast untapped potential market for inclusive insurance. The report’s draft version and synopsis were presented at the International Insure Impact Conference,… Continue reading SECP publishes report on Pakistan’s potential for micro and inclusive insurance

Jazz Cash, SECP sign MoU

ISLAMABAD, Mar 28 (APP):The Securities and Exchange Commission of Pakistan (SECP) has signed a Memorandum of Understanding (MoU) with JazzCash, the country’s largest fintech operator. This MoU fortifies JazzCash’s role as SECP’s knowledge partner said a news release. The partnership underscores a concerted effort to bolster digitalization and promote financial literacy. The MoU delineates a… Continue reading Jazz Cash, SECP sign MoU

SECP issues circular regarding intimation of share transfer

ISLAMABAD, Mar 25 (APP): The Securities and Exchange Commission of Pakistan (SECP) on Monday issued a circular clarifying provisions of section 465(4) read with 510 of the Companies Act 2017 regarding filing of return with the registrar for change in shareholding of the companies. A press release issued by the SECP said that under the… Continue reading SECP issues circular regarding intimation of share transfer

SECP holds industry meeting-cum-webinar on RBC regime for insurance sector

ISLAMABAD, Mar 21 (APP):The Securities and Exchange Commission of Pakistan (SECP) held a session on Thursday for the insurance industry participants to provide an overview of the Risk-Based Capital (RBC) regime and a walk-through of the recently disseminated RBC templates. The meeting was attended by Chief Executive Officers (CEOs), finance and risk professionals from the… Continue reading SECP holds industry meeting-cum-webinar on RBC regime for insurance sector

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SECP organizes financial literacy lecture at Margalla College, F-7/4

ISLAMABAD, Mar 20 (APP):The Securities and Exchange Commission of Pakistan (SECP) conducted a financial literacy lecture at Post-Graduate Margalla College (IMCG) F-7/4, Islamabad, on the subject of “Savings and Investment: Pathway to a Better Future.” A large contingent of students and faculty members attended the lecture, Said a press release issued here on Wednesday. The… Continue reading SECP organizes financial literacy lecture at Margalla College, F-7/4

SECP issues advertisements, call centre management guidelines for digital lenders

ISLAMABAD, Mar 18 (APP):The Securities and Exchange Commission of Pakistan (SECP) has issued guidelines to Non-banking Finance Companies (NBFCs) involved in digital lending to ensure best practices in advertisements and call centre management. The guidelines were designed to prioritize borrower protection and to prevent deceptive marketing and unethical call centre practices, said a news release… Continue reading SECP issues advertisements, call centre management guidelines for digital lenders

SECP issues concept paper on Shariah-compliant brokerage services

ISLAMABAD, Mar 8 (APP): The Securities and Exchange Commission of Pakistan (SECP) on Friday published a concept paper aimed at enabling Shariah-compliant brokerage services in the securities market through an optimal organizational and operational model. The concept paper presents several options available for the provision of Shariah-compliant brokerage services, including the opening of an Islamic… Continue reading SECP issues concept paper on Shariah-compliant brokerage services

SECP files criminal cases against individuals involved in stock market manipulation

ISLAMABAD, Mar 6 (APP): The Securities and Exchange Commission of Pakistan (SECP) has filed four criminal complaints against individuals involved in manipulating stock prices, including sponsors and brokerage house management. The Court has admitted all four complaints filed by SECP against the accused individuals, said a press release issued here on Wednesday. The accused gained… Continue reading SECP files criminal cases against individuals involved in stock market manipulation

SECP, ministry of education sign MoU to promote financial literacy

ISLAMABAD, Mar 5 (APP): The Securities and Exchange Commission of Pakistan (SECP), on Tuesday signed a Memorandum of Understanding (MoU) with the Ministry of Federal Education and Professional Training to promote financial literacy among students at federal educational institutions. The SECP Chairman Akif Saeed and the Special Secretary of Federal Education and Professional Training Mohyuddin… Continue reading SECP, ministry of education sign MoU to promote financial literacy

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SECP organizes workshop on new regulatory framework of VPS

ISLAMABAD, Mar 4 (APP): The Securities and Exchange Commission of Pakistan (SECP) here on Monday held a capacity-building workshop for journalists, focusing on the enhanced scope of the Voluntary Pension System (VPS) regulatory framework. The event aimed to raise public awareness and understanding of the Voluntary Pension System, said a news release. Executive Director, Specialized… Continue reading SECP organizes workshop on new regulatory framework of VPS

SECP seeks public consultation on conduct of meetings of shareholders

ISLAMABAD, Feb 29 (APP):The Securities and Exchange Commission of Pakistan (SECP)Thursday constituted a committee of experts for comprehensive review of the manner of conduct of shareholder meetings by listed companies and identify reforms. The committee has submitted its report to the Commission which contains recommendations to improve transparency and efficiency in the manner of conducting… Continue reading SECP seeks public consultation on conduct of meetings of shareholders

2,651 new companies incorporated in January: SECP

ISLAMABAD, Feb 19 (APP):The Securities and Exchange Commission of Pakistan (SECP) has registered 2,651 new companies in January 2024, showing an increase of 10 percent compared to the corresponding period last year. The total number of registered companies now stands at 212,108. Total capitalization (paid-up capital) with regard to newly incorporated companies is Rs5.2 billion,… Continue reading 2,651 new companies incorporated in January: SECP

SECP publishes Consultation Paper on adoption of AAOIFIs standards for Islamic finance

ISLAMABAD, Feb 6 (APP): The Securities and Exchange Commission of Pakistan (SECP) has published a consultation paper to seek comments and feedback of stakeholders on the implementation of a new strategy for the adoption of AAOIFI’s Shariah, accounting, auditing and governance standards. The proposed new strategy aims to enhance the adoption of Accounting and Auditing… Continue reading SECP publishes Consultation Paper on adoption of AAOIFIs standards for Islamic finance

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