ISLAMABAD: The three new commissioners appointed by the federal government have assumed charge of their responsibilities at the Securities and Exchange Commission of Pakistan (SECP).

The federal government on December 13 appointed Akif Saeed, Abdul Rehman Warraich and Mujtaba Ahmad Lodhi as commissioners in SECP for a period of three years. Following the new appointments, the number of commissioners now stands at five, completing the commission.

Akif Saeed has earlier served in the SECP as head of various divisions and later he was appointed as Commissioner from December 2014 to December 2017. During his tenure at SECP, he has contributed significantly towards instituting various legal and regulatory reforms.

He was instrumental in introducing legal framework for REITS and private equity and private pension funds. Akif played a significant role in merger of three exchanges and divestment of PSX strategic shareholding to consortium led by three Chinese exchanges.

He also played a vital role in achieving compliance with the IOSCO benchmarks principles of the securities market. He led the team that drafted the new Securities Act 2015 and Futures Act 2016.

Abdul Rehman Warraich is a financial services professional with more than 27 years of experience. He has worked in both public and private sectors. His career includes civil services, asset management, risk management, public debt management and financial consulting. He has served in the Federal Board of Revenue as Deputy Commissioner Income Tax.

He has also served in NBP Fund Management Limited, Punjab Pension Fund and UBL Fund Managers Limited in various roles including Fund Manager, Head of Research, Head of Investment and Chief Investment Officer.

He has served as Debt Management Specialist for Government of the Punjab, and Director General Debt for Government of Pakistan. He is a CFA Charter holder, certified FRM and holds a bachelor’s degree in law.

Mujtaba Lodhi has extensive experience in Global Financial Capital Markets, Risk Management, Regulatory Frameworks, Competition Law, Enforcement and Compliance and Organizational Digital Transformation.

Before his appointment as Commissioner in SECP, he was serving as a Member of Competition Commission of Pakistan (CCP), where he supervised several core departments, including Mergers and Acquisitions, Exemptions, Office of International Affairs, Information System and Technology and Office of Fair Trade.

Lodhi developed extensive professional association with the financial services & corporate industry in the United Kingdom, while working with top global banks, including Barclays, HSBC, Citigroup and JP Morgan. He holds a Master of Science degree in Investment and Finance from Queen Mary University of London, and a Bachelor of Science (Honours) degree in Software Engineering from University of East London.

Copyright Business Recorder, 2022


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