2. SECP Introduction
SECP stands for Security and Exchange Commission
of Pakistan
Financial Regulatory Agency in Pakistan
Setup under the Act 1997
This Act may be called as the Securities and Exchange
Commission of Pakistan Act, 1997.
It extends to the whole of Pakistan.
Save for section 43, the Act shall come into force at
once and section 43 shall come into force on such
date as the Federal Government may, by notification
in the official Gazette, appoint.
3. Establishment of commission
The SECP was set up in pursuance of the SECP Act
1997
And become operational in January 1999
It was initially concerned with the regulation of
corporate sector and capital market.
Over time, its mandate has expanded to include
supervision and regulation of insurance companies,
non-banking finance companies and private
pensions.
4. Definition
The
SECP is the financial regulatory
agency in Pakistan whose objective is
to develop a modern and efficient
corporate sector
In
order to encourage investment and
foster economic growth and
prosperity in Pakistan.
5. Vision, Mission and strategy
Its VISION is the development of modern and
efficient corporate sector and capital market,
based on sound regulatory principles.
MISSION is to develop a fair, efficient and
transparent regulatory framework, based on
international legal standards and best practices
STRATEGY is to develop an efficient and dynamic
regulatory body , ensures proper risk management
procedures in the capital market, and protects
investors through responsive policy measures and
effective enforcement practices.
6. Functions
These are the some following functions:
Regulating the issue of securities
Regulating the business in Stock Exchanges and any
other securities markets
Prohibiting fraudulent and unfair trade practices
relating to securities markets
Supervising and monitoring the activities of any
central depository and Stock Exchange clearing
house
Encouraging the organized development of the
capital market and the corporate sector in Pakistan
7. Certificates issued by SECP
SECP issues these type of Certificates
regarding the corporation
8. Objectives
It was initially concerned with the regulation of
corporate sector and capital market.
Now it also concern with the supervision and
regulation of insurance companies, non-banking
finance companies and private pensions.
The SECP has also been entrusted with oversight of
various external service providers to the corporate
and financial sector.
10. Law Division
Objective:
Growth of enterprise, protection of investors and
creditors, promotion of investment and
development of economy
Law division divided into three departments:
Registration
Enforcement
Management
Department
Department
Team
11. Securities Market Division
Objective:
Protection of investors, regulation of markets
dealings in securities
It has two department:
Market
Supervision and
Capital Issues
Department.
Policy,
Regulation and
Development
Department.
12. 3.Specialized Companies Division
Objective:
To provide a regulatory environment
for the development and promotion of a Non-Bank
Financial (NBF) sector.
.
Protect the interests of shareholders, depositors and
policyholders under the relevant laws.
13. 4. Insurance Division.
The main objectives includes:
Regulates and monitors the
Insurance Sector through
Insurance Ordinance, 2000 and the Companies
Ordinance, 1984
