SECP rationalises fee structure

KARACHI: The Securities and Exchange Commission of Pakistan (SECP) has rationalised the fee structure payable to the registrar and the commission under the Sixth Schedule of the Companies Ordinance, 1984, a statement said on Wednesday.

Through this notification, the SECP has reduced the registration fee for physical submission of documents for incorporating a company, with nominal capital up to Rs10 million. The reduction in fee for incorporation of the companies with less capital would encourage the small and medium enterprises to enter the documented corporate sector, it said.

SECP advocates new regulations for managing conflicts of interest

KARACHI: The Securities and Exchange Commission of Pakistan (SECP) has noted that new regulations for the management of conflicts of interest are required to prevent any further loss of investors’ confidence in the financial system.

The SECP in its report “Efficient regulation of conflicts of interest facing market intermediaries”, published by International Organisation of Securities Commission (IOSCO) in October said that the market discipline in the form of penalties and litigation, which is focused towards limiting conflicts, is important.
Market intermediaries include the securities firms carrying out financial investment services such as brokerage, dealing, asset management service, etc., regardless of the type of financial products.

The market intermediary could also provide corporate finance services such as initial public offering (IPO) underwriting and merger and acquisition consulting.