KARACHI: Securities and Exchange Commission of Pakistan (SECP) Chairman Zafar Hijazi, during his visit to Pakistan Stock Exchange Limited (PSX), has vowed to facilitate the Pakistani capital market.
He held meetings with the PSX brokers and emphasised SECP’s consensus-based decision-making approach and assured the participants of the meeting that SECP will maintain close interaction with market participants on all important matters in future as well.
He quoted the recent integration of stock exchanges, formation of Consultative Group and committees formed on proposed broker regime, derivatives market development and MSCI related matters as examples of this consultative approach.
Zafar further stressed that SECP will continue its best efforts to ensure that the image of the Exchange and rights of market participants are safeguarded and they are not subjected to undue pressure by any external agency.
The SECP Chairman also expressed the commission’s resolve in empowering SROs and strengthening their market oversight for better discharge of their duties as frontline regulators.
Addressing the PSX brokers on the occasion, SECP chairman briefed that a revised regime for securities brokers is in the pipeline, which is being drafted with a view to ensure business continuity of existing brokers with least disruption, and will be introduced in a phased manner over an extended period.
He assured the brokers that the regime was focused on bringing our markets on par with international jurisdictions, rather than creating business obstacles.
