SECP seeks input to elevate standards for CBS

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By MG News | January 01, 2025 at 09:30 AM GMT+05:00

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January 01, 2025 (MLN): The Securities and Exchange Commission of Pakistan (SECP) has unveiled a consultation paper outlining several key areas for improving the conduct of Corporate Briefing Sessions (CBS) by listed companies.

The proposed enhancements focus on increasing transparency, accessibility, and stakeholder engagement.

Broad areas for improvement include mandatory audio-video recordings, mandatory optionality for online participation, establishment of a centralized repository for recordings, availability of written transcripts, mechanisms for sending questions in advance, feedback surveys, and mandatory presence of the CEO and CFO.

These potential areas of improvement have been identified based on a holistic review of prevalent practices in the capital market, feedback received from relevant stakeholders, and international research.

This exercise aims to ensure that listed companies hold these sessions in true letter and spirit.

It seeks to provide investors and research analysts with an opportunity for the timely and accurate dissemination of information related to financial and operational matters.

As the apex regulator of the capital markets, SECP firmly believes in greater transparency in the stock market.

CBS provides a unique opportunity to listed companies for sharing deeper insights into their operations and address any potential concerns of relevant stakeholders.

It is envisaged that through improvements in the conduct of CBS, the enhanced transparency will boost investor confidence in the stock market, which in turn will aid in efficient price discovery.

Copyright Mettis Link News

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