SECP make draft amendments to regulations pertaining to Broker Regime

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The Securities and Exchange Commission of Pakistan (SECP) has proposed to make amendments to the following regulations pertaining to the broker regime for eliciting public comments:

  1. Securities Brokers (Licensing and Operations) Regulations
  2. Public Offering (Regulated Securities Activities Licensing) Regulations
  3. Securities and Futures Advisers (Licensing and Operations) Regulations

The draft amendment to the Securities Brokers (Licensing and Operations) Regulations shall categorize the securities brokers into three categories:

  • Trading Only
  • Trading and Self Clearing
  • Trading and Clearing

Securities brokers already licensed shall required to convert to any of the categories depending on the criteria:

The SECP has encouraged and advised all security brokers to submit their comments latest by January 24, 2020 to the SECP under intimation to PSX.