Eight warning letters issued against KSE brokers

08 Jun, 2012

As a part of its mandate to regulate the capital markets and curb unfair market practices, the Securities Market Division of the SECP took enforcement actions against the market participants for non-compliance with the regulatory framework in the month of May.
Two orders were passed for insider trading and penalties were imposed. In order to curtail the operational malpractices, 8 warning letters were issued against brokers of the KSE and other market participants for regulatory non-compliance's. In an effort to protect the investors' interests, an order was passed against a brokerage house of the KSE and penalty was imposed. Show-cause notices were issued to two brokerage houses and an audit firm under various provisions of the securities laws.-PR

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