The Capital Markets Committee constituted by the Securities and Exchange Commission of Pakistan (SECP), submitted its report to the regulator. The Committee which was formed earlier this month comprised of representatives of the stockbrokers, mutual fund association, professionals with banking experience and CEOs of Pakistan Stock Exchange (PSX), National Clearing Company Private Limited (NCCPL) and Central Depository Company (CDC) being the frontline regulators.
In a meeting headed by the Chairman SECP and Commissioner Securities Market, the Committee and its subcommittee chairs presented detailed recommendations in areas of risk management, leverage market products, ease of doing business/cost of doing business and broker business model.
The proposals presented were after extensive consultation with other market professionals and small brokers from Lahore and Islamabad. -PR