SECP briefed on capital market reforms

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ISLAMABAD: The Capital Markets Committee (CMC), constituted earlier this month by the Securities and Exchange Commission of Pakistan (SECP), has submitted its first report to the regulator.

The committee comprised of representatives of the stockbrokers, mutual fund associations, professionals with banking experience and CEOs of the Pakistan Stock Exchange (PSX).

In a meeting headed by the SECP chairman, the CMC and its subcommittee chairs presented detailed recommendations in areas of risk management, leverage market products, ease of doing business, cost of doing business and broker business model.

The proposals were presented after extensive consultation with market professionals and small brokers of Lahore and Islamabad.

The SECP will be assessing all the recommendations holistically in the best interest of the capital market and its stakeholders.

On committee’s suggestion, a team has already been formed to activate the trading of government debt securities on the stock exchange, to rationalize associated costs and to suggest measures for redressal of practical difficulties.

The SECP stands committed to introducing reforms focused on ease of doing business, reducing cost of doing business, regulatory facilitation and market development that builds investors’ confidence.

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