ISLAMABAD: The Upper House of Parliament on Thursday passed the Securities and Exchange Commission of Pakistan (SECP) (Amendment) Bill, 2016 aimed at enhancing its functions and enabling the commission to act as integrated regulator.
Minister for Law and Justices Zahid Hamid on behalf of Minister for Finance Mohammad Ishaq Dar piloted the bill in the House as reported by the Standing Committee.
According to objectives of the Securities and Exchange Commission of Pakistan (Amendment) Bill, 2016, "to extensive changes in the jurisdiction and changing corporate structure of Securities and Exchange Commission of Pakistan (SECP). The SECP feels the there is a need to amend the Securities and Exchange Commission of Pakistan Act, 1997 (XLII of 1997) to further enhance its functions and to enable it to act as integrated regulator."
Accordingly, SECP has drafted the proposed bill to effectively regulate all the sectors regulated by it.
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