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Group g final
Group g final
Group g final
Group g final
Group g final
Group g final
Group g final
Group g final
Group g final
Group g final
Group g final
Group g final
Group g final
Group g final
Group g final
Group g final
Group g final
Group g final
Group g final
Group g final
Group g final
Group g final
Group g final
Group g final
Group g final
Group g final
Group g final
Group g final
Group g final
Group g final
Group g final
Group g final
Group g final
Group g final
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Group g final

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  • 1. Group Members: (G) Bilal Hussain K1F12MCOM0009 Hafiz Salman K1F12MCOM0015 Arshad K1F12MCOM0050 Kishwar K1F12MCOM0005 Adeel K1F12MCOM0048 Presented to: Sir Hassan Shahzad Corporate And Commercial Law M.com 2nd Semester
  • 2. 5
  • 3. Adeel Reg#0048
  • 4. What to Discuss…  History  About SECP  Organization  Commission  Legal Departments  Services Offered by SECP  SECP Act 1997  Organizational Structure  Responsibilities  Stakeholders of SECP
  • 5. History  The Securities and Exchange Commission of Pakistan was created to succeed the Corporate Law Authority  an attached Department of the Ministry of Finance  process of restructuring the Authority was initiated in 1997 under the Capital Market Development Plan of the (ADB).  SECP was passed by the Parliament and promulgated in December 1997  Act gave the administrative authority and financial independence to carry out the reform program of Pakistan’s capital market with the assistance of (ADB)
  • 6. Introduction  The Securities and Exchange Commission of Pakistan (SECP) is an organization whose purpose is to develop a modern and efficient  corporate sector and a capital market based on sound regulatory principles, in order to foster  economic growth and prosperity in Pakistan.  SECP Act 1997  This Act institutionalized certain policy decisions relating to the constitution and structure, powers, and functions of the SECP  Operational in Jan 1999
  • 7. Continued….  It was concerned with the regulation of:  Corporate sector and capital market  Insurance Companies  Non-Banking finance companies  Vision Statement  Mission Statement  Strategy
  • 8. Organization The Policy Board  main objective of the Policy Board is to provide guidance to the Commission in all matters  relating to its functions and to formulate policies in consultation with the Commission  Policy Board is also responsible for advising the Government on matters falling within the purview of the Act and other corporate laws
  • 9. Policy Board …..  Policy Board consist of a maximum of nine members appointed by the Federal Government  five ex-officio members and four from the private sector  ex-officio members are  Secretary, Finance Division;  Secretary, Law and Justice Division;  Secretary, Commerce Division;  Chairman of the Commission; and  Deputy Governor of the State Bank of Pakistan (SBP)
  • 10. International Memberships  SECP has been playing an active role in the activities of International Organization of Securities Commissions (IOSCO)  to cooperate together to promote high standards of regulation  to exchange information on their respective experiences in order to promote the development of domestic markets  to unite their efforts to establish standards and an effective surveillance of international securities transactions
  • 11. Memorandum of Understanding between SBP and SECP  SBP is entrusted with the responsibility of promoting monetary and financial stability and fostering a sound and dynamic banking system, by regulating and supervising it, to safeguard the interest of stakeholders.  SECP has now given the responsibility of regulating the NBFIs, regulation of Corporate sector, capital markets and insurance sector.  To share information and work towards the holistic development of the financial sector in supervision of banks/DFIs and NBFCs operating in Pakistan.
  • 12. Hafiz Salman Reg#0015
  • 13. The Commission:  Commission is a collegiate body with collective responsibility  Operational and executive authority of the Commission is vested in the Chairman who is (CEO).  The Commission presently consists of three Commissioners including the Chairman:  Mr. Tahir Mehmood (Chairman)  Mr Imtiaz Haider (Companies Division)  M.Asif Arif (Insurance Division)  Mr Zafar Abdullah ( Securities Market Division)
  • 14. The Commission Secretariat:  To assist the Chairman of the SECP and external entities, in achieving the objectives of the SECP in an efficient and holistic manner  The Commission Secretariat is headed by Ms Bushra Aslam, Secretary  It coordinates the overall functioning of the SECP and liaises with external entities:  Including government agencies and international organizations  In addition, it supervises the internal monitoring function within the SECP and is responsible for the management
  • 15. SERVICES  Laws and Policies  Registration  Licensing  Facilitation  Monitoring & Compliance  Enforcement  Development  Protection  Corporate Laws
  • 16. Regulations:  Corporate sector  Capital market  Insurance  Non Banking sector  Professional services
  • 17. Bilal Hussain reg#0009
  • 18. SECP ACT 1997  The SECP act 1997 has been divided into 12 parts which are given below.  PART I PRELIMINARY  Short title and commencement  Definitions  PART II THE COMMISSION  Establishment of the Commission  Head Office The Commissioners  The Chairman
  • 19. Continued….  PART III THE BOARD  The Securities and Exchange Policy Board  Procedure of the Board  PART IV CONFLICT OF INTEREST  Disclosure of interest by Commissioners  PART V DISQUALIFICATION, REMOVAL, RESIGNATION AND VACANCIES  Disqualification of Members and removal
  • 20. Continued……  PART VI POWERS AND FUNCTIONS  Powers and functions of the Commission  Functions and powers of the Board  PART VII FINANCE  The Fund  Expenditure to be charged on the Fund Annual report
  • 21. Continued….  PART VIII ENFORCEMENT AND INVESTIGATION  Investigation and proceedings by the Commission  Powers of the investigating officers of the Commission  Appeal to the Court
  • 22. Continued…..  PART IX CONFIDENTIALITY OF INFORMATION  Obligation of confidentiality  PART X COGNIZANCE AND PROSECUTION OF OFFENCES  Cognizance of offences  Conduct of prosecution(suit)
  • 23. Continued…  PART XI RULES AND REGULATIONS  Power to make rules  Power to make regulations  PART XII GENERAL  Common seal  Dissolution of the Authority
  • 24. The Legal Department  Legal Department is headed by the Executive Director  It operates under the direct guidance of the Chairman  to manage the legal affairs of SECP and provide impartial legal advice to each operational Division and Department of the SECP.
  • 25. Arshad reg#0050
  • 26. Securities Market Division  It is responsible for the regulation of all aspects of the securities market including:  licensing and coordination  regulation of secondary market  public offerings  market intermediaries  market surveillance. (Monitoring Behavior Of mkt)  To provide for the protection of investors, regulation of markets and dealings in securities.
  • 27. Specialized Company Division  Regulates and monitors insurance companies, non- banking finance companies, Modarabas  Specialized Companies Division seeks to provide a conducive regulatory environment  To foster growth in the non-banking financial sector, safeguard the financial system  Protect the interests of shareholders, depositors and policyholders under the relevant laws
  • 28. Finance & Admin Division  Responsible for directing and controlling the areas of accounting, facilitating overall operations of the SECP and ensuring its smooth functioning.  division has been organized into the following departments:  Finance & Accounts Department  Administration Department
  • 29. Kishwar reg#0005
  • 30. Responsibilities of SECP  Regulating the issue of securities  Regulating the business in Stock Exchange  Supervising and monitoring the activities of any stock exchange clearing house  registering and regulating the working of stock brokers, sub brokers, share transfer agents, bankers to an issue, trustees of trust deeds, registrars to an issue, underwriters,
  • 31.  Promoting investors education and training of intermediaries of securities markets  Regulating substantial acquisition of shares and the merger and take-over of companies  Encouraging the organized development of the capital market and the corporate sector in Pakistan Continued…
  • 32. Stake Holders  Industry Association and Professional Bodies  NBFCS  Credit Rating Companies  Government Ministries & Departments  International Organizations

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