NCCPL issues reminder for securities brokers’ LC statements

September 11, 2024 (MLN): The National Clearing Company of Pakistan Limited (NCCPL) has issued a reminder about the deadline for Securities Brokers and Professional Clearing Members to submit their audited or reviewed (as applicable) liquid capital statement as of June 30, 2024.

In light of the above, SBs and PCM whose financial year end is June 30 shall submit their annual audited financial statements including LC statements to NCCPL latest by October 31, 2024.

BCMs and PCM whose financial year end is December 31 shall submit their external auditor’s reviewed LC statements to NCCPL latest by September 16, 2024.

Further, SBs wishing to allocate a portion of their LC for Debt Market trading are requested to intimate allocated values to NCCPL accordingly in line with the NCCPL regulations 2015.

To note, he exposure will be allowed based on the Lower of Audited and Unaudited Liquid Capital Certificate submitted to NCCPL as per NCCPL Regulations 2015.

In addition to the above reviewed/ audited statements, CMs shall continue to submit monthly unaudited liquid capital statements to the securities exchange and clearing house.

In case of non-submission of statements of net capital balance and liquid capital within a time period or any shortfall in the net capital balance and/or liquid capital, the regulatory bodies shall immediately restrict the trading facility of such securities broker and shall only allow it to close out the open position.

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