SECP amends securities brokers regulations

SECP amends securities brokers regulations

Securities and Exchange Commission of Pakistan has amended securities brokers regulations to reduce regulatory burden and promote ease of doing business.

Now a broker has to obtain a single license to undertake brokerage activity in the capital market.

The validity date for the existing brokerage licenses have been extended to 31st December of this year and the securities brokers may apply for renewal of licenses for the next calendar year by November this year.

SECP said that license renewal process has also been simplified and the annual renewal will be processed upon submission of Pakistan Stock Exchange 's recommendation along with an undertaking by the securities broker that he is compliant with all the regulatory requirements and deposit of regulatory fee.

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