Islamabad
The Securities and Exchange Commission of Pakistan (SECP), to safeguard the interest of investors and prevent miss-selling, has proposed amendments to the Non-Banking Finance Companies and Notified Entities Regulations, 2008.
The amendments have been made available on the SECP website https://www.secp.gov.pk/document/sro-107-i-2021-2nd-draft-amendments-in-the-non-banking-finance-companies-and-notified-entities-regulations-2008/?w for public consultation, said a press release issued here.
The proposed amendments focus on training, disciplining and monitoring of sales force of Non-Banking Finance companies (NBFCs). Additionally, the criteria specified for fitness and propriety of directors and chief executives of NBFCs has been further augmented.
AMCs to formulate and implement a policy approved by their Board of Directors for continued training.—AFP
