The Securities and Exchange Commission of Pakistan (SECP) will implement the new brokers’ regime for categorising brokers according to their financial resources and governance requirements.
According to the SECP’s annual report (2020-21) released on Saturday, a Professional Clearing Member has already been launched.
Brokers meeting higher benchmarks would be permitted to retain custody of investors’ assets while brokers unable to comply with such requirements shall be required to transfer custody of investors’ assets to a third-party professional clearing members or another securities broker.
The SECP said that the capital market reform measures have improved investor participation by allowing ease of entry into the market. In this regard, not only domestic but foreign investors and NRPs have also shown more interest in investing in our capital market.—Agencies
