CRO to preside over Arbitration Committee proceedings: LSE Board's decision

The Board of the Lahore Stock Exchange has resolved that the Chief Regulatory Officer of the Exchange would preside over the Arbitration Committee proceedings in future. This was decided to ensure transparency in the process of dealing with the investors' complaints.
It was further decided that majority of the members of the Arbitrary Committee would comprise of management personals rather than the brokers. These decisions are expected to greatly boost the confidence of the investors in the process of dispute resolution system mechanism of the exchange.
The LSE Board's decision would ensure that all complaints of the investors are handled with a sense of impartiality and investors' rights/interest is protected while dealing with the matters relating to the complaints against the conduct of brokers. The Exchange has forwarded these recommendations to the Securities and Exchange Commission of Pakistan for its approval as required under the law.
The Exchange's Chairman Arif Saeed said the LSE has already appointed an independent Chief Regulatory Officer to look after all regulatory matters including the investors' complaints. With the proposed change, the LSE would further position itself as investors' friendly marketplace as compared to other stock markets in Pakistan.
The LSE Managing Director Aftab Ahmad Chaudhry said that the current Chief Regulatory Officer-Ahmed Hassan Khan is a lawyer by profession. With diversified experience in the securities industry and by virtue of his previous experience as the Company's Secretary of the Exchange, he is very well qualified to serve as the true advocate for protecting the investors' interest.-PR