Securities brokers called to renew licenses for 2025

September 18, 2024 (MLN): To renew the license issued by the Securities and Exchange Commission of Pakistan (SECP) for the next calendar year, from January 1, 2025, to December 31, 2025, securities brokers are required to submit the necessary documents.

According to a notice issued by the local bourse, the documents include;

1. Form of Application for Renewal of License as a Securities Broker. (Specimen attached)
2. An undertaking from Securities Broker that it is compliant with all the regulatory requirements; (Specimen attached)
3. Original receipt of the Bank for deposit of regulatory fee for renewal of license as a Securities Broker as provided under Schedule I of Securities Brokers (Licensing and Operations) Regulations, 2016
4. Latest copy of Forms A, 9 & 19 duly certified by Registrar of the Companies
5. Evidence of submission of latest audited financial statements to the respective CRO of Securities and Exchange Commission of Pakistan (SECP)
6. Evidence of valid Certification of IFMP i.e. PMR, FCM & SBC vide Circular No. 27 of 2021 dated October 5, 2021 as applicable
7. Filing evidence of latest periodic returns (inclusive of AML and BLASRS)

To meet the timeline and to scrutinize the application for renewal of licenses along with the documents submitted by the Securities Brokers, it is requested to submit the requisite documents by Monday, November 4, 2024 to PSX so that the renewal application for license is duly reviewed prior to its submission to the SECP within the specified timeline.

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