SECP proposes workplace safety enhancements in corporate governance regulations

January 26, 2024 (MLN): In a bid to promote safety and respect in the workplace, the Securities and Exchange Commission of Pakistan (SECP) has issued draft amendments to the Listed Companies (Code of Corporate Governance) Regulations, 2019 for public consultation.

The proposed amendments require the board of directors of listed companies to implement robust anti-harassment policies that align with the Protection Against Harassment of Women at the Workplace Act, 2010, and relevant provincial laws.

These policies will uphold the rights and well-being of all employees, fostering a more inclusive and equitable work environment.

The amendments mandate several critical measures to ensure the effective implementation of anti-harassment policies as required under the Workplace Act, 2010, including the development of a Code of Conduct, formation of an Inquiry Committee, designation of Competent Authority, and display of a Code of Conduct for awareness of all employees ensuring clear communication and accessibility.

This initiative marks a significant step towards building a more equitable and ethical corporate landscape in Pakistan.

Integrating robust anti-harassment policies into the Code of Corporate Governance sets a strong precedent for responsible business practices and demonstrates the SECP's commitment to fostering safe and empowering workplaces for all.

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