SECP revives consultative group on capital markets

The Securities and Exchange Commission of Pakistan (SECP) has revived the Consultative Group on Capital Markets to suggest measures for growth and development of capital markets. The group, under the chairmanship of Aftab Ahmed Diwan, Chief Operating Officer, Central Depository Company of Pakistan Limited, has representatives from Karachi Stock Exchange (KSE), National Clearing Company of Pakistan Limited (NCCPL), banks, mutual funds, SECP and other capital market experts.
The group will act as an independent think tank for important policy decisions in relation to the development of capital markets in Pakistan. The group shall be reviewing international best practices and suggest measures for the overall growth and development of capital markets particularly in the areas of new product development including alternative leverage products, debt capital market, new listings, risk management and market monitoring and surveillance, etc.
While adopting a consultative approach, the SECP will be sharing/discussing the recommendations of the group with the relevant stakeholders prior to implementation. The SECP has also announced activation of the co-ordination committee of the three stock exchanges and SECP. This committee will be meeting regularly to discuss issues of mutual importance and pave way for improved co-ordination amongst the apex and the frontline regulators.