Collective investment schemes: SECP will charge 0.02 percent annual fee

The Securities and Exchange Commission of Pakistan (SECP) will charge 0.02 percent annual fee for collective investment schemes in line with the directives of the Securities and Exchange Policy Board. The SECP has issued SRO 714 (I)/2019 here on Friday to issue draft amendments in the Non-Banking Finance Companies and Notified Entities Regulations, 2008. According to the SECP, the rates have been revised in accordance with the Securities and Exchange Policy Board's directives vide SRO 685(I)/2019, dated 28th June, 2019.
Under the regulations, the annual monitoring fee to be paid by deposit taking NBFCs would remain Rs 250,000. However, the annual fee for collective investment schemes has been fixed at 0.02 percent.