In a major reversal, the Securities and Exchange Commission of Pakistan (SECP) has reinstated the broker licenses of four TRE Certificate Holders, including First National Equities Limited.
The SECP had previously cancelled the securities broker licenses of First National Equities Limited, First Choice Securities Limited, Surmawala Securities (Private) Limited, and Falki Capital (Private) Limited on January 1, 2025, citing regulatory breaches and failure to apply for license renewal.
For some firms, the inability to voluntarily surrender their TRE Certificates also contributed to the initial cancellation decision.
While details on the reinstatement are yet to emerge, the move is expected to provide relief to the affected entities and restore confidence among market participants. The SECP’s initial action had raised concerns regarding regulatory compliance within the brokerage sector.
