ISLAMABAD: The Policy Board of Securities and Exchange Commission of Pakistan (SECP) has met to discuss various policy matters and issues, including inquiry report of stock market crisis.
The board was briefed on evaluations and recommendations given to avoid such a crisis in the future. An inquiry report, led by Shamim Ahmad Khan’s Committee, constituted to study the 2008 stock market crisis, held SECP responsible for the crisis.
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The board was also briefed on capital market reforms to strengthen the regulatory regime and the status of demutualisation and integration of the stock exchange.
The board approved constitution of Small Dispute Resolution Committees under Section 117 of the Insurance Ordinance 2000 and increase in minimum paid-up capital requirements for insurers. An update on evaluation of International Organisation of Securities Commissions (IOSCO) of the SECP was also given.
