SECP approves the amendments in brokers’ regime despite resentments from PSA

News Image

By MG News | February 04, 2020 at 10:56 AM GMT+05:00

0:00

February 4, 2020 (MLN): Despite several requests from stockbrokers to revise the contents of the New Brokers Regime, the Securities and Exchange Commission of Pakistan (SECP) has gone ahead and approved the original amendments.

According to the notice issued by SECP on Tuesday, the amendments will be made in three regulations, i.e. Securities Brokers Regulations, Public Offering Regulations and securities and Futures Advisers Regulations.

This obviously has not come down well with the Stockbrokers’ Association, which yet in another letter to the regulator, has expressed bewilderment over the approval.

“PSA is astonished to see that despite the fact that the matter of New Broker Regime (NBR) was fixed for consideration and call notices had been issued to all the stakeholders for February 6, 2020, before the National Assembly’s Standing Committee on Finance, Revenue & Economic Affairs, the draft for proposed Broker Business Model has not only been approved but also sent for Gazette Notification” the letter said.

“Secretary NA Standing Committee when contacted and informed of the development, remarked that it had never happened in the past. He further informed that despite what has happened meeting fixed for February 6, 2020, is on and all parties summoned must attend the same” it added.

Copyright Mettis Link News

Related News

Name Price/Vol %Chg/NChg
KSE100 131,949.07
198.95M
0.97%
1262.41
ALLSHR 82,069.26
730.83M
0.94%
764.01
KSE30 40,387.76
80.88M
1.11%
442.31
KMI30 191,376.82
77.76M
0.36%
678.77
KMIALLSHR 55,193.97
350.11M
0.22%
119.82
BKTi 35,828.25
28.42M
3.64%
1259.85
OGTi 28,446.34
6.84M
-1.02%
-293.01
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 108,125.00 110,525.00
107,865.00
-2290.00
-2.07%
BRENT CRUDE 68.51 68.89
67.75
-0.29
-0.42%
RICHARDS BAY COAL MONTHLY 97.50 0.00
0.00
0.75
0.78%
ROTTERDAM COAL MONTHLY 106.00 106.00
105.85
-2.20
-2.03%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 66.50 67.18
66.04
-0.50
-0.75%
SUGAR #11 WORLD 16.37 16.40
15.44
0.79
5.07%

Chart of the Day


Latest News
July 05, 2025 at 02:57 PM GMT+05:00

National Savings Schemes see over Rs27bn inflow in May


July 04, 2025 at 10:16 PM GMT+05:00

CAT upholds CCP’s ruling against PREMA Milk


July 04, 2025 at 10:07 PM GMT+05:00

Gold price in Pakistan falls Rs1,500 per tola


July 04, 2025 at 08:01 PM GMT+05:00

TRG in Supreme Court


July 04, 2025 at 06:41 PM GMT+05:00

Govt domestic debt, liabilities nears Rs54tr in May



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg