As part of its mandate to provide for increased investor protection and nurture a more informed and vigilant investors' community, the Securities and Exchange Commission of Pakistan (SECP) has approved the waiver of monthly subscription fee for short messaging service (SMS) alert facility provided to investor account holders by the Central Depository Company (CDC).
This facility gives investors an added level of convenience by providing account information via cellphones through SMS alerts. Alerts about activities such as transfer of securities, credit of corporate entitlements, pledge transactions, listing/delisting of securities in the Central Depository System etc, are provided.
The SMS Alert Facility at CDC complements the Unique Identification Number (UIN) Information System being offered by the National Clearing Company which provides investors with a real-time access to monitor their trading activities executed through their UINs. These reform measures will assist in promoting investor confidence, integrity of the market and establishing systems for the protection of capital market investors.-PR
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