KSE March crisis: SECP to present probe report to National Assembly panel on November 13

The Securities and Exchange Commission of Pakistan (SECP) along with US Forensic Team would present the investigation report on "Karachi Stock Exchange March-2005 Crisis" before the National Assembly Standing Committee on Finance and Revenue on November 13.
This was pointed out by the SECP chairman Razi-ur-Rehman while talking to newsmen at the 10th General Meeting of Asia Pacific Central Securities Depository Group at a local hotel here on Thursday.
The SECP hired a US investigating team to probe involvement of a number of brokers in March Crisis in July 2006 and the probing team issued notices to 12 KSE brokers for their suspected involvement in the said crash on July 25. The brokers were directed to provide data of their transactions made prior to the KSE crash.
The forensic team was given three months time period to complete the investigation and present a comprehensive report. Responding to a question, Razi-ur-Rehman made it clear that in-house financing (badla) has been banned and simultaneously Rs 55 billion was available at Karachi Stock Exchange (KSE) under the enhanced cap of Continuous Funding System (CFS) with effect from November 6, 2006.