The Securities and Exchange Commission of Pakistan (SECP) has formed a high-level committee to undertake a complete review of the current account-opening process with intermediaries in the capital markets. The goal is to identify friction points and propose reforms to make the procedure faster, more transparent, and user-friendly.
According to an SECP press release released today, the committee’s mandate includes:
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Mapping the full end-to-end account opening journey with brokerages, the Pakistan Stock Exchange (PSX), Central Depository Company (CDC), National Clearing Company of Pakistan (NCCPL), and eClear Services.
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Identifying operational and regulatory bottlenecks that lengthen turnaround time or complicate compliance.
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Proposing policy and system-level enhancements for both intermediaries and regulators.
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Recommending measures to expand digital onboarding capabilities—such as e-KYC, electronic signatures, and automated document verification—to reduce manual steps and paperwork.
The committee is inclusive, featuring representatives from key stakeholders: SECP, PSX, NCCPL, CDC, Pakistan Stock Brokers Association, and eClear Services Limited.
The final report and recommendations are expected to be submitted to the SECP by August 18, 2025, laying the groundwork for a more efficient and modern client onboarding experience in Pakistan’s capital markets.
