The Pakistan Stock Exchange (PSX) on Wednesday suspended the trading terminals of M/s Stock Vision (Private) Limited (SVPL) based in Islamabad, as it was running below the minimum capital requirements as specified under Rule 3(b)(i) of the Securities and Exchange Rules, 1971.
On PSX’s website, the notice said, “In the event of refusal by the commission to renew the broker registration of a TRE Certificate Holder or failure by the TRE Certificate Holder to apply for a renewal till the date of expiry of the broker’s registration, or cancellation of registration by the commission, the CRO or an authorised officer of RAD shall suspend the complete trading terminals of such TRE Certificate Holder after obtaining a confirmation from the commission.”
In this regard, it is hereby informed that SVPL, having its registered office located in Islamabad, has not applied for the renewal of registration as a broker with the SECP and, therefore, the validity of its broker registration stands expired.
In view of the above and in compliance with regulatory requirements, the trading terminals of SVPL shall remain suspended until further notice. All the clients of SVPL are advised to exercise caution and have their assets, if any, transferred out and in the case of any difficulty/issue, immediately report to the exchange, the notice further added.
