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Chairman SECP voices support for the controversial stock brokers’ regulation

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February 6, 2020: The Chairman of Securities and Exchange Commission of Pakistan (SECP), Amir Khan on Thursday gave explanation on the stock brokers’ regulation at standing committee of national assembly on finance.

He stated that currently, the overall presence of investors in the market stood at 172,710, which is a whole lot lesser than five years ago wherein the total number stood at 226,009. Moreover, he informed that the volume of buying and selling of shares had reduced drastically in the last ten years.

He accorded this shrinkage in the stock marker participation to a number of issues, which he deemed needed to be addressed quickly. To improve overall performance of the stock market, he said that some revolutionary steps were required.

Lauding SECP for its continuous support and effort to revive the stock market, he stated that the regulator has been working on improving standards at financial institutions as well as regulatory compliance of financial institutions.

The Chairman voiced his support for the controversial brokers’ regime by stating that the brokerage house industry needed reworking on its governance system, as it had led to investors suffering losses of Rs. 8 billion in the last 20 years.

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Posted on: 2020-02-06T17:00:00+05:00