ISLAMABAD — The Appellate Bench of the Securities and Exchange Commission of Pakistan (SECP) concluded 124 appeals during the fiscal year 2024–25, reaffirming its commitment to swift justice, regulatory oversight, and dispute resolution.
According to a statement issued by the Commission, the resolved appeals spanned multiple legal frameworks, including 22 under the Insurance Ordinance, 2000, and 15 under the Securities Act, 2015. Another 34 appeals related to the Companies Ordinance, 1984, and the Companies Act, 2017, while five addressed violations under the Non-Banking Finance Companies Regulations, 2008. The largest category comprised 48 appeals concerning contraventions of the SECP’s Anti-Money Laundering and Countering Financing of Terrorism (AML/CFT) Regulations of 2018 and 2020.
Out of the total 124 appeals filed against orders passed by SECP’s adjudication divisions, the Appellate Bench upheld 113 decisions and set aside 11, reflecting a high affirmation rate of over 91%. The Commission highlighted this performance as evidence of the Bench’s impartiality and effectiveness in maintaining regulatory accountability.
The SECP also noted that 73 new appeals were registered during the year, indicating growing reliance by stakeholders on the Bench as a forum for redressal and legal clarity. To improve accessibility, the Appellate Bench has been conducting hearings at SECP’s regional offices in major cities on request, enabling participation from appellants based outside Islamabad.
All decisions of the Appellate Bench are publicly available on the SECP’s website, in line with the regulator’s ongoing efforts to promote transparency and good governance.
