New rules unveiled by SECP: listed companies must keep a check on persons having access to inside information

To check insider trading at stock exchanges, the Securities and Exchange Commission of Pakistan (SECP) has made it mandatory for all listed companies to maintain and regularly update a register to enlist persons employed under contract or otherwise, who have access to inside information.
Through S.R.O.457(1)/2016 issued here on Monday, the SECP has issued Access to Inside Information Regulations, 2016. According to the SECP, all listed companies shall maintain and regularly update a register to enlist persons employed under contract or otherwise, who have access to Inside information, in a manner as provided.
A listed company shall designate a senior management officer who shall be responsible for entering or removing names of persons in the said register in a timely manner. The said designated officer shall be obliged to keep proper record including basis for Inclusion or exclusion of names of persons in the said list and make the same available as and when required by the Commission, the SECP added.
Format of register to enlist of persons who have access to inside information: It is hereby stated that below list contains names of all the persons that have access to insider information and that the persons listed have acknowledged the requirements of Part X of the Securities Act, 2015 relating to the prohibition to conclude transactions with the use of insider information and to advise the persons to whom they provide inside information.

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S. No __________________       Page No_________________

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Name  _________________               _________________

CNIC No: ______________               _________________

Designation in the company/           _________________

relationship with the company         _________________

Complete residential address          _________________

Contact number (s)                    _________________

Email                                 _________________

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S    Date of     Type of      Date on      Source of      Whether or  The date of   Signature

No    entry      insider     which the   information       not the    publication          of

               Information  information  for example    information   of insider   Authorized

                                Was          name/        was made    information     Officer

                              Received    designation/     public

                                          relationship

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