The Commission established under the Securities and Exchange Commission of Pakistan Act, , is administratively, financially, and functionally independent and the Federal Government uses its best efforts to promote, enhance and maintain independence of the Commission.
Under this Act, Financial Services means all services provided by regulated persons under the Securities and Exchange Commission of Pakistan Act, or any administered legislation but does not include any service exclusively regulated by the State Bank of Pakistan SBP. Waheed holds practicing license of Punjab Bar Association.
The area of expertise is corporate, banking, commercial and transactional practice. Aleena is advising and providing legal services to the clients of her law firm and represents her law firm in all sorts of commercial, corporate and banking matters.
Waheed has an ability and extensive experience of drafting more complex documents like persuasive briefs and motions that require comprehension of complicated fact patterns, analysis of numerous legal issues or questions of law and review of voluminous transcripts and records. Functions of the Chairman 1 Day to day administration of the affairs of the commission. Terms of Office Commissionner Term A commissioners These are the commissioners who are selected at random ballot out of the commissioners excluding.
The minimum number of. The term of such commissioners shall be two years. Term A commissioners may be reappointed for a further period of three years. Free Powerpoint Templates Page Terms of Office Commissionner Term B commissioners These are the commissioner who is not selected as term A commissioners. The term of such commissioners shall be three years. Term B commissioners may be reappointed for a further period of three. Terms of Office Commissionner Commissioners Any commissioners appointed after the expiry of the.
Term B commissioners, such commissioner if eligible may be re-appointed. Note: The categories of term A or term B commissioners do not exist since the year Page Vacation of Office by Members or Commissioners The office of any commissioner of the commissioner the member of the policy board vacated upon the: Removal by the federal government; Resignation; or Death of the member or commissioner.
The federal govt. Power and Functions of SECP Powers and Functions under the SECP Act; 1 Identify and recommend the matters requiring the policy discussion by board 2 Regulate the issue of securities 3 Regulate the business in stock exchange commodity exchange and any other securities market; 4 Supervise and monitor the activities of any central depository and stock exchange clearing house.
Power and Functions of SECP 6 Propose regulations for the registration and regulating the working of collective investment schemes, including unit trust schemes 7 Promote and regulate self-regulatory organizations 8 Prohibit fraudulent and unfair trade practices relating to securities markets 9 Promote investors education and training of intermediaries of securities markets 10 Hear and decide investor complaints against persons involved in brokerage business for any violation of rules etc 11 Conduct investigations in respect of matters related to the SECP act or the companies ordinance 12 Regulate substantial acquisition of shares and the merger and take-over of companies 13 Regulate professionals who provide services within the financial services markets 14 Maintain and issue panel of auditors for different companies 15 Call information from the stock exchanges and undertake Powerpoint inspections conduct Free inquiries andTemplates audits thereof; Page Power and Functions of SECP 16 Consider and suggest reforms of the law relating to companies bodies corporate or securities markets 17 Encourage the organized development of the capital market and the corporate sector in Pakistan; 18 Conduct research relating to the capital market and the corporate sector; 19 Perform the functions and exercise the powers of the corporate law authority under the companies ordinance , the securities and exchange ordinance the modaraba companies and modaraba floating and control ordinance and any other law ot the time being in force.
However the power of the corporate law authority to make rules or regulations cannot be exercised by the commission 20 Perform the functions and exercise the powers of the federal government under the federal government to make rules or regulations cannot be exercised by the commission 21 Propose regulations in respect of all or any of the aforesaid matters for the consideration and Templates approval of the board Free Powerpoint Page Power and Functions of SECP 22 Exercise powers discharge duties and perform functions assigned to it under the law of insurance 23 Ensure and monitor the compliance of law by the insurers , insurance surveyors and insurance intermediaries 24 Regulate the organized connected with insurance business; 25 Encourage the organized development of the insurance market.
It supervises the functions of the commission and determines the policy matters concerning the smooth functioning of the commission, the corporate entities and the selfregulatory organizations. The federal government shall appoint the chairman of the policy board out of the members of the board.
Powers and functions of policy board The policy board has the following powers and has to Free Powerpoint Templates perform the following functions under the SECP act: Page Security and Exchange Policy Board 1 If required advise the federal government after consultation with the commission on the matters relating to the Securities industry and insurance industry; Regulation of companies and corporate sector; Protection of the interests of the investors 2 Consider and approve any regulations with respect to implementation of policy decisions, proposed by the commission.
Security and Exchange Policy Board Members of the Board The total number of the members of the policy board is fixed as nine 9. Five 5 of the members of the board shall be appointed out of the government employees and the remaining four 4 from the private sector. The following officers of the government shall be the members of the board: 1 Secretary to the government of Pakistan, finance division; 2 Secretary to the government of Pakistan, law division; 3 Secretary to the government commerce division; 4 The chairman of the SECP; and 5 A deputy governor of the state bank of Pakistan nominated by the governor of the state bank of Free Powerpoint Templates Page 25 Pakistan.
Security and Exchange Policy Board Term of Office of the Members An ex-officio member of the board shall hold office till such time as her holds the office by virtue of which he is a member. He will cease to be a member upon transfer, retirement resignation or termination or in any other way ceasing to hold the concerned office. The private sector member shall hold office for a term of four 4 years.
Such members, if eligible may be reappointed for a further period of four years. After the expiry of their second term of four 4 years. After the expiry of their second term such members cannot be re-appointed. Further upon attaining the age of sixty-five 65 years a member shall cease to Free Powerpoint Templates Page 26 hold the office. Security and Exchange Policy Board The Meeting of the Board The policy board shall have at least four 4 meetings curing a calendar year. The quorum for these meetings shall be four 4 With the approval of the board an ex-officio member may authorize an officer of his division shall not be below the rank of additional secretary.
The rule of majority shall prevail in all decisions of the board. In the event of a tie, the chairman of the board shall have a casting vote. The board is empowered to invite any person who is not a member to attend any of its meetings. The person so attending the meetings cannot participate in any decision or Free Powerpoint Templates vote at the meeting. Open navigation menu.
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Jump to Page. Search inside document. The Commission: Commission is a collegiate body with collective responsibility Operational and executive authority of the Commission is vested in the Chairman who is CEO. Securities Market Division It is responsible for the regulation of all aspects of the securities market including: licensing and coordination regulation of secondary market public offerings market intermediaries market surveillance. To provide for the protection of investors, regulation of markets and dealings in securities.
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