SECP responds to allegations of inadequate data protection

ISLAMABAD: Securities & Exchange Commission of Pakistan (SECP) has taken note of the baseless and unwarranted allegations that information displayed on its website is alterable. 

SECP has declared that, by no means, is its website a repository of institutional information. Rather, the website is merely a quick go-through for the stakeholders to be facilitated. It has highlighted that the website itself contains a disclaimer in this regard which clearly states that  “This information is being provided for quick reference and facilitation, however, it is not conclusive and is subject to further verification from the record of the company maintained at the relevant Company Registration Office (CRO)”.

The SECP’s official company record is fully secured and the only legal way to access the authentic information/data is to apply to its CROs, following a prescribed procedure, for Certified True Copies (CTC). 

SECP further claimed that it remains committed to providing public facilitation through easy access to information and in this respect, is proactively and continuously working to add new features and remove any technological glitches from its website. 

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SECP mentioned that it greatly respects and values its ongoing relationship with the media which almost invariably reports on SECP’s activities in a measured, responsible and helpful way. It bolstered its position by saying that SECP, being a responsible public-sector regulator,  operates in a transparent manner, always provides information/clarifications and responds to legitimate queries, in accordance with the procedures and policy of the commission. However, it avoids responding to random and slanted queries verbally put to it and prompted by mischievous elements or motives.

It finally concluded by mentioning that “as a responsible and progressive regulator, SECP rejects frivolous and smear campaigns of this nature and malicious attempts to hurt its reputation and deceive the citizens of Pakistan. SECP affirms that its data remains completely protected and secured.”

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  1. Damage control. this is a bunch of bs I can hear from SECP. they are mitigating the blame claiming that the data isn’t really much of institutional use. Also, This wasn’t frivolous allegation at all or even baseless what Noorani claimed was seriously concerning as the body erected to protect and regulate the system is indulging in corruption itself. and wait isn’t that coincidental that record seems to be not available during the time the allegations were being levelled. it was initial damage control which showed adverse reaction. Also, fact focus said in their statement that SECP chairmen avoided giving any statement on that matter plainly ignored them and referred to SECP media department. it’s a plagued ill regulatory body

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