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ISLAMABAD, Oct 21 (APP):The Securities and Exchange Commission of Pakistan (SECP) has approved amendments to the Pakistan Stock Exchange (PSX) regulations in order to further improve audited financial account.
The amendment making it mandatory for listed companies to hold Corporate Briefing Sessions (CBS) on their annual audited financial accounts, said a press release issued by SEC on Tuesday.
The reforms are designed to enhance the overall conduct of these sessions by improving investor engagement, reducing information asymmetry, and ensuring the timely dissemination of information.
Under the new framework, listed companies must hold a CBS for their annual audited financial statements within 30 days of their Annual General Meeting.
Both the Chief Executive Officer and the Chief Financial Officer, who are well-versed in company affairs, are required to be present at these sessions.
To support this initiative, PSX will maintain a dedicated CBS calendar on its website, featuring notices and presentations for upcoming sessions.
Additionally, PSX will launch a video channel to host recordings of CBS sessions conducted by listed companies, providing investors with a centralized facility to access comprehensive information.
Investors and analysts will benefit from the timely availability of information, as session presentations will be published in advance of each CBS. Video recordings will be uploaded to the PSX channel shortly after each session concludes.
To further encourage engagement, a mechanism will be introduced allowing participants to submit questions in advance, with adequate time reserved during the sessions to address these queries.
Collectively, these reforms contribute to a more transparent and inclusive capital market environment, helping to build investor confidence and strengthen the relationship between listed companies and their stakeholders.