The Securities and Exchange Commission of Pakistan (SECP) issued orders, show cause
notices and warning letters to non-compliant market participants during March 2011.
According to SECP here Friday, orders were issued against beneficial owners of the five listed companies
under section 224 (2) of Companies Ordinance, 1984, because of regulatory non-compliance, and they were
directed to surrender gain to the tune of Rs 79 million.
As part of routine monitoring and surveillance, a warning letter and three show cause notices were issued to
members of the stock exchanges, beneficial owners of listed companies and other market participants.
Subsequent to the promulgation of the Securities (Leveraged Markets and Pledging) Rules, 2011,
amendments were approved to the regulatory framework of the National Clearing Company of Pakistan
Limited to cater for the operational aspects.
