KARACHI: Pakistan Stock Exchange Limited (PSX) and SECP are jointly doing their best to protect the investors' interests by creating awareness among them about their rights and obligations of securities brokers towards them.
PSX is a front-line regulator and Securities and Exchange Commission of Pakistan (SECP) has been assigned the task of apex regulator of capital market, says PSX statement here on Thursday.
PSX did make all out efforts to recover assets from trading right entitlement certificate (TREC) holders in coordination with and under the guidance of SECP for providing maximum relief to the clients of various suspended/forfeited TRE certificate holders.
It elaborated that one such TREC Holder is M/s. M.A.M. Securities Private Limited (MSPL) which as a result of continuous follow ups through their directors provided its free and absolute consent to satisfy all dues/liabilities towards their clients as may be determined by PSX from time to time.
In this regard, the majority shareholders of MSPL requested the PSX for granting time to liquidate their assets to enable them to resolve investors' complaints.
The PSX in consideration of investors' interest advised MSPL to furnish guarantee upon which directors of MSPL had surrendered original passports and submitted cheques equivalent to amount of outstanding investors' claims as security till the time they liquidate their assets (including personal assets) and satisfy all liabilities towards their clients.
The statement said that PSX was cognizant of its role as front-line regulator and making every effort for protection of investors' interests and to rebuild their confidence.
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