Search Results for SECP
The Securities and Exchange Commission of Pakistan (SECP), Pakistan’s apex regulatory body, has launched web consultation forum aims to achieve border consultation of public at large and stakeholders over the SECP’s proposed regulations, policies and initiatives.
In its press release, SECP invited stakeholders, professionals, academia and general public to participate in ongoing, in-depth discussions on specific topics and issues related to capital market, non-banking financial sec
March 15, 2013
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The Institute of Capital Markets (ICM), leading finance industry organisation for licensing certification in Pakistan, has signed a memorandum of understanding (MoU) with CFA Institute, the global association of investment professionals, and its member society CFA Society Pakistan (CFAP) to jointly organise globally relevant, professional education and training, and promote ethical practices in the country.
The MoU identified six key areas of cooperation, promotion of the CFA Institute
January 2, 2013
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By Ali Ahmad
The Securities and Exchange Commission of Pakistan (SECP) has taken various regulatory and punitive actions against companies’ directors and auditors to safeguard the interests of the investors.
On the abuse of powers by directors of listed and un-listed companies, the Securities and Exchange Commission of Pakistan (SECP) issued show-cause notices to 23 companies in the month of November.
It was revealed during the inspection of annual reports and financial statements, th
December 16, 2012
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By Ali Ahmad
Pakistan's apex Corporate Regulator - Securities and Exchange Commission of Pakistan (SECP) has notified draft of accounting rules and regulations for the Life and non-Life Insurance companies.
The drafted revised accounting formats and regulations for published financial statements and regulatory returns by insurance entities have been notified in the official gazette of Pakistan to elicit public and stakeholders comments.
By issuing these accounting formats and regulation
December 5, 2012
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Zafar Abdullah has been appointed as the commissioner of Securities and Exchange Commission of Pakistan (SECP) by the federal government, on Friday. He holds a bachelor’s degree in commerce from Karachi University, and is a fellow member of the Institute of Chartered Accountants of Pakistan (ICAP).
He did his chartered accountancy from KPMG Pakistan and got extensive training in the areas of assurance and audit, financial advisory and corporate advisory.
He had earlier served the
August 19, 2012
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The Securities and Exchange Commission of Pakistan (SECP) has got the `Letter of Agreement to Ijarah’ approved from the Religious Board for Modarabas.
The SECP circular stipulates that the Modarabas extend Ijarah financing facility to their clients on the basis of Ijarah agreement duly approved by the Religious Board, said a statement issued by the Commission here Friday.
However, sometimes Ijarah assets are not readily available and the Modarabas have to make advance payment to suppli
June 4, 2012
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In order to safeguard the investors' interests, the Enforcement Department of the SECP took various regulatory and punitive actions during March and April.
According to the press release issued by SECP, it was informed that severe penalties were imposed on the statutory auditors of 13 unlisted companies for failing to act in conformity with the statutory requirements. The audit reports issued did not bring out material facts about the affairs of companies.
Although SECP did not disclose
May 25, 2012
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Just weeks ago, Pakistan's apex regulatory body Securities and Exchange Commission directed all insurance companies to consult Audit firms in Pakistan in order to enhance transparency in their audit products and policies resulting in a new stream of business.
PakistanACCA was the first to report it.
This month is another healthy addition for Audit firms' businesses. SECP has directed all non-listed companies categorized as economically significant companies to appoint their statutory
March 20, 2012
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As we reported earlier that SECP is giving a brand new opportunity and new line of business to Pakistani audit firms - making a mandatory requirement for Insurance Sector to audit its policies, a list of finalized audit firms is now finalized by the Securities and Exchange Commission of Pakistan, told us source close to the matter.
In a press statement, SECP said:
Recognizing the critical role played by firms of Chartered Accountants in the statutory auditing process of financial state
February 24, 2012
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In an interesting action by the Securities and Exchange commission's vigilance task force, two auditors, which were not named so far by any party, were penalized for not following ICAP's Quality Control Review and Code of Corporate Governance.
According to its press release, SECP has finalized the penal actions against the statutory auditors of two companies for their failure to act in conformity with the statutory requirements. The audit reports issued by them did not bring out materia
February 21, 2012
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