KARACHI: It has come to the knowledge of SECP through a news clipping titled "SNBL, ECMCL enter into alliance" published in section of press on April 16, 2021 wherein the company has asserted itself as the first Collateral Management Company (CMC) registered with SECP under the Collateral Management Companies Regulations, 2019 in the name Elahi CMC Limited.
SECP hereby clarifies that under Regulation 4 of the CMC Regulations, 2019, no company can undertake activities of a CMC unless it is registered with SECP as a CMC. It is also clarified that Elahi CMC Limited (ECMCL) is not registered with SECP as a CMC and therefore cannot undertake the activities of a collateral management company. Therefore, the subject reference of ECMCL as first SECP registered CMC is factually incorrect and misleading.
Moreover, it is further clarified that Naymat CMC Limited is the first and only CMC registered by SECP under Regulation 4 of the CMC Regulations, 2019.-PR
Copyright Business Recorder, 2021
Comments
Comments are closed.