SECP reduces fees for various regulated activities

To reduce cost of doing business of corporate sector, the Securities and Exchange Commission of Pakistan (SECP) on Thursday reduced fees for various regulated activities including renewal of licenses of Private Fund Management Company, Real Estate Investment Trust-Management Companies (RMCs), Non-Banking Finance Companies, and Non-Bank Micro Finance Companies.
In this regard, the SECP has issued three notifications here on Thursday.
According to SRO 270 (I)/2020, on the direction of the Securities and Exchange Policy Board, the SECP has made amendments in the Non-Banking Finance Companies and Notified Entities Regulations, 2008.
The fee for application for permission to form an NBFC has been fixed at Rs250,000; fee application for license to undertake or carry out an activity or function has been reduced to Rs500,000 and nil fee for application for renewal of license to carry out an activity or function provided that Non-Bank Micro Finance Companies shall pay the following fee amounts: The fee for application for permission to form an NBFC has been reduced to Rs125,000; fee application for license to undertake or carry out an activity or function has been reduced to Rs250,000 and nil fee for application for renewal of license to carry out an activity or function.
The fee for application for registration of an Open-End Scheme or Closed-End Scheme has been fixed at Rs500,000 and fee for application for certificate of registration to act as a trustee has been fixed at Rs500,000.
Under SRO 271 (I)/2020, on direction of the Securities and Exchange Policy Board, the SECP has amended Real Estate Investment Trust Regulations, 2015.