Pakistan Stock Exchange reintroduces Rule Book under Securities Act

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MG News | July 22, 2020 at 11:00 AM GMT+05:00

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July 22, 2020: PSX re-introduced its Rule Book under the Securities Act, 2015 and the Futures Market Act, 2016, and aligned it with the relevant sections of the Companies Act, 2017 with the approval of the Securities and Exchange Commission of Pakistan (SECP).

In line with its vision and mission, Pakistan Stock Exchange regularly reviews and updates PSX Regulations in tandem with changing the regulatory landscape of Pakistan.

PSX also endeavors to align its Regulations with international best practices to ensure that the same are at par with the developed regional and global stock exchanges, as per the notification issued by PSX.

While carrying out the Rulebook harmonization exercise, it was ensured to eliminate redundancies and obsolete provisions, improve placement and add greater clarity for ease of understanding of rights and obligations of all concerned. The purpose is to regulate securities market functions in an enhanced and transparent manner while ensuring that the rights and interests of the investing public are duly protected. 

The Rulebook is available in the legal framework section of the PSX website at www.psx.com.pk.

On the occasion of the re-introduction of the Rule Book, the Chairman PSX, Mr. Sulaiman Mehdi, said, “It is a matter of pride that the Rulebook of PSX has been harmonized with and re-introduced under the Securities Act, 2015 and Futures Market  Act, 2016.  The harmonization was necessary to maintain consistency of laws across the securities market while ensuring that the redundancies are removed and any overlapping and inconsistencies are addressed”.

The MD PSX, Mr. Farrukh Khan, said, “It gives me immense pleasure to re-introduce the  Rulebook as framed under the Securities Act, 2015 and Futures Market Act, 2016. This will help everyone connected with the capital markets to access the regulations with ease in one place.  This exercise has also helped us to remove any redundant,  contradictory and overlapping regulations”.

PSX reiterates its commitment that in the future, it shall continue to keep its regulatory framework robust, transparent, and fully aligned with other applicable rules and regulations. Pakistan  Stock  Exchange continues to strive to maintain a functional and efficient Capital Market for all stakeholders, be it TREC holders, investors, issuers, or other market participants.

Press Release

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