SECP, PSX and NCCPL for robust enforcement regime

A meeting of senior management of the SECP with the consultative group comprising of senior market participants and representatives of Pakistan Stock Exchange (PSX) and National Clearing Company of Pakistan Limited (NCCPL) was held at the SECP's Karachi office on Wednesday. It was agreed that a robust and effective enforcement regime is critical to ensuring discipline and continued development of market.
During the meeting it was noted that various reform measures aimed at the development of market have been implemented particularly the successful divestment of the PSX shares, paving the way for further improvement in its governance and management, technological innovation and product development. Progress has also been made in respect of other measures such as the concept of E-IPO, improving the quality of listing etc.
The SECP expressed its firm resolve that while untiring efforts have been made for the development of market, a zero tolerance policy will be adopted towards enforcement of laws and regulations and to ensure that market participants comply with the regulatory framework, including timely collection of margins by brokers from their clients in the leverage markets and strict action will be taken in case of any violation of law and to protect interests of the public.-PR