SECP takes action against the officials involved in the data leaks controversy

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SECP takes action against the officials involved in the data leaks controversy

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) Saturday held a special Commission meeting on the issue of data leak report finalized by the fact finding committee of the SECP.

The SECP has decided not to make its data leak report public, but show cause notices are expected to be issued to the persons nominated by the fact finding committee. The fact finding committee included Registrar of Companies Mubashir Saduzai, Additional Director Law Syed Irfan Shah and a senior official of the IT department. The report was completed late Friday night and a special Commission meeting was held Saturday afternoon at the SECP Headquarters. The report was presented by head of the committee, Sadia Khan, Commissioner SECP and after serious discussions the Commission observed that few employees were suspected of committing this crime of data leak.

The Commission decided to maintain complete secrecy over the case, but strict action would be taken in accordance with the SECP HR (human resource) manual, sources added.

As the data theft is a criminal offence under the Securities Act 2015, the show causes are expected to be issued to the persons suspected of data theft/leak in the inquiry report.