ISLAMABAD
The Securities and Exchange Commission of Pakistan (SECP) has deferred notification of Whistle blowing Regulations 2017.
The SECP had previously placed the said regulations, in draft form, on its website for seeking public comments.
A spokesman for SECP said the deferment decision was taken in view of the Public Interest Disclosure Bill 2017, passed by the National Assembly on August 17, 2017.
The said bill is aimed at protecting individuals, whistleblowers, who make certain disclosures of information in the public interest. The bill covers offences by companies and their directors.
The essence of the bill is similar to that of the whistle blowing regulations proposed by SECP.
However, the bill is yet to be placed before the Senate for approval and its modus operandi is to be determined. The commission is, therefore, of the view that notification of the regulations may be deferred until the finalisation of the bill.
