Thursday, December 9, 2010

SECP fines Fairtrade Capital Securities and Salman Majeed Securities

ISLAMABAD, December 9: As part of its enforcement and regulatory function, the Securities Market Division of the Securities and Exchange Commission of Pakistan (SECP) took enforcement actions against two brokerage firms.

Fairtrade Capital Securities (Pvt) Limited, member, Karachi Stock Exchange, has been fined Rs50,000 for non-compliance with the prescribed procedure for execution of inter-exchange trades. Salman Majeed Securities (Pvt) Limited, member, Lahore Stock Exchange, has been fined Rs25,000 for non-provision of information to the SECP. The orders are available on the SECP website.

In addition, 4 rules were amended for the facilitation of various stakeholders in the month of November. The Securities Market Division also resolved 7 complaints lodged by investors.

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