secp law presentation
TRANSCRIPT
Securities and Exchange Commission of Pakistan
PRESENTED BY: ZARGHAM AWAN
SECP Introduction
SECP stands for Security and Exchange Commission of Pakistan
Financial Regulatory Agency in Pakistan Setup under the Act 1997 This Act may be called as the Securities and Exchange
Commission of Pakistan Act, 1997. It extends to the whole of Pakistan. Save for section 43, the Act shall come into force at
once and section 43 shall come into force on such date as the Federal Government may, by notification in the official Gazette, appoint.
Establishment of commission
The SECP was set up in pursuance of the SECP Act 1997
And become operational in January 1999 It was initially concerned with the regulation of
corporate sector and capital market. Over time, its mandate has expanded to include
supervision and regulation of insurance companies, non-banking finance companies and private pensions.
Definition
The SECP is the financial regulatory agency in Pakistan whose objective is to develop a modern and efficient corporate sector
In order to encourage investment and foster economic growth and prosperity in Pakistan.
Vision, Mission and strategy
Its VISION is the development of modern and efficient corporate sector and capital market, based on sound regulatory principles.
MISSION is to develop a fair, efficient and transparent regulatory framework, based on international legal standards and best practices
STRATEGY is to develop an efficient and dynamic regulatory body , ensures proper risk management procedures in the capital market, and protects investors through responsive policy measures and effective enforcement practices.
Functions
These are the some following functions: Regulating the issue of securities Regulating the business in Stock Exchanges and any
other securities markets Prohibiting fraudulent and unfair trade practices
relating to securities markets Supervising and monitoring the activities of any
central depository and Stock Exchange clearing house
Encouraging the organized development of the capital market and the corporate sector in Pakistan
Certificates issued by SECP SECP issues these type of Certificates regarding the corporation
Objectives
It was initially concerned with the regulation of corporate sector and capital market.
Now it also concern with the supervision and regulation of insurance companies, non-banking finance companies and private pensions.
The SECP has also been entrusted with oversight of various external service providers to the corporate and financial sector.
SECP Division
The SECP is divided into the following four divisions:
Securities Market DivisionCompany Law DivisionSpecialized Companies DivisionInsurance Division
Law Division
Objective:Growth of enterprise, protection of investors and
creditors, promotion of investment and development of economy
Law division divided into three departments:
RegistrationDepartment
Enforcement Department
Management Team
Securities Market Division
Objective:Protection of investors, regulation of markets
dealings in securities It has two department:
Market Supervision and Capital Issues Department.
Policy, Regulation and Development
Department.
3.Specialized Companies Division
Objective: To provide a regulatory environment
for the development and promotion of a Non-Bank Financial (NBF) sector.
Protect the interests of shareholders, depositors and policyholders under the relevant laws.
.
4. Insurance Division.
The main objectives includes: Regulates and monitors the
Insurance Sector through Insurance Ordinance, 2000 and the Companies
Ordinance, 1984
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