To check insider trading at stock exchanges, the Securities and Exchange Commission of Pakistan (SECP) has made it mandatory for all listed companies to maintain and regularly update a register to enlist persons employed under contract or otherwise, who have access to inside information.
Through S.R.O.457(1)/2016 issued here on Monday, the SECP has issued Access to Inside Information Regulations, 2016. According to the SECP, all listed companies shall maintain and regularly update a register to enlist persons employed under contract or otherwise, who have access to Inside information, in a manner as provided.
A listed company shall designate a senior management officer who shall be responsible for entering or removing names of persons in the said register in a timely manner. The said designated officer shall be obliged to keep proper record including basis for Inclusion or exclusion of names of persons in the said list and make the same available as and when required by the Commission, the SECP added.
Format of register to enlist of persons who have access to inside information: It is hereby stated that below list contains names of all the persons that have access to insider information and that the persons listed have acknowledged the requirements of Part X of the Securities Act, 2015 relating to the prohibition to conclude transactions with the use of insider information and to advise the persons to whom they provide inside information.
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S. No __________________ Page No_________________
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Name _________________ _________________
CNIC No: ______________ _________________
Designation in the company/ _________________
relationship with the company _________________
Complete residential address _________________
Contact number (s) _________________
Email _________________
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S Date of Type of Date on Source of Whether or The date of Signature
No entry insider which the information not the publication of
Information information for example information of insider Authorized
Was name/ was made information Officer
Received designation/ public
relationship
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