Non- compliant members of stock exchange: SMD issues two letters

As a part of surveillance and monitoring activities, in January the Securities Market Division (SMD) of the Securities and Exchange Commission of Pakistan issued two warning letters to non-compliant members of the stock exchange for execution of blank sales and wash trades. Owing to the regulatory non-compliance, nine warning letters were issued to the beneficial owners of 3 listed companies for late filing of returns of beneficial ownership.
Furthermore, as part of continuous process of the securities market progression in line with the international practices, 12 amendments were approved to the regulations of the stock exchanges. In addition, ten investors' complaints were resolved during the month.-PR