Regulated activities: SECP slashes fees for credit rating companies and others

In line with the directives of the Securities and Exchange Policy Board, the Securities and Exchange Commission of Pakistan (SECP) has reduced fees for different regulated activities carried out by creditt rating companies and others The SEP has issued SRO.716(I)/2019 here Wednesday.
According to the SECP, the revised fee to be paid at the time of obtaining permission to form a credit rating company for Credit Rating Companies would be ''nil''; fee to be paid at the time of applying for license as a credit rating company would be Rs 100,000 and fee to be paid at the time of applying for renewal of license as a credit rating company would be ''nil''.
The SECP would charge ''nil'' fee for license renewal of ''Banker to an issue''.
The ''Consultant to the issue'' would be subjected to ''nil'' fee for license renewal.
The ''Under writer'' would have to pay fee of Rs 250,000 for seeking fresh license and ''nil'' fee for license renewal. The renewal fee for Debt Securities Trustees License would be ''nil''. The SECP will charge ''nil'' fee for renewal of license by the Share Registrars and Ballotters.
For Public Offering of Securities, in case of public offering of equity securities of a company, the revised fee would be Rs 200,000. In case of issuance of debt security, the revised fee would be Rs 100,000 for Public Offering of Securities. This notification shall take effect immediately, the SECP added.