Next Capital Limited has become the first securities broker in Pakistan to receive a Securities Manager license, the company informed the Pakistan Stock Exchange (PSX) of the development through an official disclosure, citing compliance with Sections 96 and 131 of the Securities Act, 2015 and Clause 5.6.1 of the PSX Rule Book.
The license was granted by the Securities and Exchange Commission of Pakistan (SECP) under Sections 68 and 69 of the Securities Act, 2015.
“We hereby convey that the Securities and Exchange Commission of Pakistan has granted Next Capital Limited a license to act as a Securities Manager under Section 68 and 69 of the Securities Act, 2015,” read Next Capital’s notice sent to the PSX.
The approval positions Next Capital to launch portfolio management and investment advisory services, broadening its range of investment solutions for clients. According to the company, the move will allow it to offer value-added services while contributing to the growth and depth of Pakistan’s capital markets.
The company further said that this milestone strengthens its ability to serve clients with a wider spectrum of investment solutions while contributing to the growth and depth of Pakistan’s capital markets.
Rizwan Yousuf, company secretary of Next Capital, said in the letter that the firm aims to strengthen its offerings and support capital market development through the newly authorised services. The license will allow Next Capital to manage client portfolios and provide advisory solutions tailored to investment needs.
